Aphria (NASDAQOTH:APHQF) disappointed investors the last time it reported quarterly resultsin August because its revenue growth was underwhelming. Even worse, the Canadian marijuana grower predicted that its EBITDA could weaken in the future.
That future arrived on Friday, with Aphria providing its fiscal 2019 first-quarter update. Here are seven key things you need to know from what the company had to say…
1. Revenue soared on a year-over-year basis
Aphria reported fiscal Q1 revenue of 13.3 million in Canadian dollars. That represented an impressive 117% year-over-year increase.
But the comparison with the company’s previous quarter wasn’t as great. Revenue increased only 10.5% from the fourth quarter of fiscal year 2018. That’s well below the 17% quarter-over-quarter revenue growth that Aphria reported in August.
2. A great streak was broken
Prior to Q1, Aphria had a streak of 11 consecutive quarters of positive adjusted EBITDA. No other Canadian marijuana grower can boast that kind of track record. Unfortunately, though, Aphria’s streak won’t extend to 12 quarters in a row.
The company posted a negative adjusted EBITDA in fiscal Q1 of CA$3.96 million. Aphria had warned that this could happen because of…
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