That being said, it needs to be noted that marijuana was legalized in Canada towards the end of last year and hence, companies like Canopy should have recorded far bigger sales figures.
Curaleaf Q2 indicates robust growth despite widened loss
While Canopy’s performance proved to be a disappointment, on one hand, Curaleaf (CURLF) performed admirably in the quarter and managed to record impressive growth. Although it is true that everything about the company’s performance was rosy, it needs to be pointed out that the company is moving in the right direction. The net revenues rose as much as three times from the year-ago period and that was definitely the main headline. At the same time, Curaleaf’s deepened and rose as much as five times. The net losses figure was worse than what had been predicted by analysts and remain the primary concern for the company at this point, despite its revenue growth.
Aphria Q4 -- surprising success
One of the biggest surprises of the earnings season was the performance from Aphria (APHA) in its fourth quarter. The company not only managed to grow its revenues significantly but also recorded a profit. The fact that it managed to turn a profit is definitely the biggest development. The company’s net profit for the quarter stood at CA $16 million, which works out to CA$ 0.05 per share and that is a marked improvement from the year-ago period when Aphria had made a CA $ 5 million loss. The biggest reason behind the impressive performance was that Aphria managed to increase its cannabis sales by four times and hit 5574 kilos in total.
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