Categories AlphaGraphs, Cannabis, Earnings
Aphria (APHA) swings to a loss in Q4 despite 18% growth in revenue
Aphria (NASDAQ: APHA) stock plunged more than 10% in the pre-market trading session as it reported a loss of C$98 million or C$0.39 per share in the fourth quarter of 2020. However, revenue in the final quarter of 2020 rose 18% year-over to C$152 million.
Q4 results included a non-cash impairment charges of C$64 million, which is largely attributable to measures taken with respect to certain of the company’s international businesses in response to the COVID-19 pandemic.
The Ontario-based cannabis producer transferred its listing from NYSE to NASDAQ with effect from June 8, 2020.
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