OGI - Aphria (APHA) shares drop 9% as FQ3 results trail consensus; top-line impacted by lockdowns across Canada

Aphria (APHA) shares plummet 9% premarket after fiscal Q3 2021 results misses consensus. (All figures are in C$).Net revenue of $153.6M, +6.4% and a decrease of 4.3% Q/Q, missed analyst expectations of $163.3M.Net cannabis revenue of $51.7M, 7.8% lower from FQ3 2020, and down 23.8% from prior quarter.Gross revenue for adult-use cannabis of $59.6M, +33.4% Y/Y, and a decline of 17.3% Q/Q.FQ3 revenues were impacted by lockdowns in the major Canadian provinces and in Germany.Adjusted cannabis gross margin of 39.2% vs. 45.9% in prior quarter.For FQ3 2021, APHA missed its non-GAAP/GAAP EPS forecast. The company reported non-GAAP loss/share of $0.15/share and GAAP loss/share of $1.14.Kilograms sold: 18,695, a decrease of 30.1% compared to sales of 26,730 in Q2 2021.Cash cost to produce dried cannabis per gram of $0.90, +13.9% Q/Q.Adjusted EBITDA rose slightly in FQ3 to $12.7M compared prior quarter; Adjusted EBITDA from cannabis business fell to $7.9M compared to $12.9M in

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Aphria (APHA) shares drop 9% as FQ3 results trail consensus; top-line impacted by lockdowns across Canada