Aphria cannabis sales have increased for four consecutive quarters. Source: Author based on company filings.
Summary
Aphria (APHA) is the second-largest Canadian LP by cannabis sales. The company boasts an enormous cultivation footprint and low costs of sales, often leading to good gross margins.
Over the past several months, shares have been beaten down as the company failed to meet and abandoned over-optimistic guidance, blaming COVID-19. Their recent results also included a questionable C$30 million wholesale cannabis purchase which hurt margins and profitability - an odd purchase when Aphria had C$150+ million in inventory. Presumably,