Aphria Shares Soar On 969% YoY Q4 Revenue Growth

Aphria Inc (NYSE:APHA) shares soared Thursday afternoon after reporting a huge increase in quarterly net revenue.

Fourth-quarter net revenue came in at CA$128.6 million. This is up from CA$12.03 million in the same period last year, an increase of 969%.

"It's a new day at Aphria. Our team's solid execution across key areas of our business resulted in strong adult-use revenue growth and a profitable fourth quarter," said Irwin Simon. "Over the last six months, our organization identified immediate priorities to help generate substantial progress near-term and long-term. We built upon existing business fundamentals and capabilities, streamlined processes, strengthened governance, and focused on building brand awareness.

"Together, we have nurtured an entrepreneurial culture of accountability through data-driven decision-making for value creation in the global medical and adult-use cannabis industry."

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Highlights

• Net revenue increased 75% sequentially
• Revenue for adult-use cannabis of CA$18.5 million, up 158% sequentially
• Ended quarter with CA$571 million of cash

Aphria shares traded higher by 22% at $6.34 in Thursday's after-hours session. The stock closed at $5.20.

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