Canadian cannabis producer Aphria said it earned 16.4 million Canadian dollars ($12.1 million) in net income in its latest quarter, a 28% decrease from a CA$21.2 million net income the Ontario company recorded in the same quarter last year.
It was Aphria’s second consecutive profitable quarter, and the results sent the company’s stock up sharply.
Net revenue for the quarter ending Aug. 31 was CA$126.1 million, up from CA$13.3 million year-over-year.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter were CA$1 million, compared with a loss of CA$4 million in the same period last year.
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Our analysts break down Aphria’s latest results on Investor Intelligence.