Canopy Growth’s CEO & Former Chairman Klein vs Simon CGC has managed to burn through $3 billion of cash while diluting shareholders by 20%. CGC has seen weak gross margins: past quarter saw gross margins of 6%. Selling, general, & administrative expenses totaled $135.4 million: $16 million higher than total revenues. CGC has decided to go the direction of less-clarity, as in this most recent quarter it has decided to stop disclosing kilograms sold and average selling prices.
Aphria's 2020 fiscal year highlights:
Adjusted EBITDA grew from $209,000 to CA$8.6 million, with 52.9% gross margin in selling cannabis. Revenue grew by 129% to CA$543.3 million, compared with CA$237.1 million in 2019. Aphria's cash cost decreased, sales were up 18.4% from the prior-year period. Aphria is ranked No. 1 in the adult-use recreational market in Canada and the market leader for Vapes. Aphria expanding into Germany with in country production facility and exports Europe from Aphria One.