Supreme Cannabis Company Inc. (The) T.FIRE

The Supreme Cannabis Co Inc is a Canada-based company engaged in the production and sale of medical and recreational cannabis. Its portfolio includes products that address recreational, medical, and wellness consumers. Its brands include BlissCo, Truverra, 7ACRES, Sugarleaf, and Hiway.

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Supreme Cannabis Company Inc. (The) > Aphria smashes revenue

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Post by johnaleon Apr 14, 2020 9:22pm

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Post# 30909900

Aphria smashes revenue

https://www.newswire.ca/news-releases/aphria-inc-announces-net-cannabis-revenue-increases-65-from-prior-quarter-and-fourth-consecutive-quarter-of-positive-adjusted-ebitda-884920459.

Gross revenue for adult-use cannabis of $44.7 million in the third quarter, an increase of 54% from prior quarter and the 5th consecutive quarter of growth.
Net cannabis revenue of $55.6 million in the third quarter, an increase of 65% from prior quarter.
Net revenue of $144.4 million in the third quarter, an increase of 96% from prior year quarter and increase of 20% from prior quarter.
Operating income of $8.7 million in the third quarter, compared to a loss of $9.6 million in the prior quarter.

As previously disclosed, customer demand exceeded the Company's supply capabilities in the third quarter as a result of the timing of Aphria Diamond's license receipt and, as a short-term measure, the Company purchased wholesale product from other Licensed Producers to supplement its near-term supply capabilities. Wholesale product purchases resulted in a higher cost and less margin opportunity for those sales. During the quarter, sales of purchased cannabis accounted for $20.2 million, with gross profit of $5.1 million and a gross margin of 25.2%.
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