What is the cannabis income like in Canada?

by Team Inc.

2021-05-03-How are cannabis revenues in Canada?

As earnings season accelerates, analysts are closely following the numbers reported by some of the best-known cannabis companies. Expectations were high, but some major cannabis producers failed to meet these expectations. Below some reports.

Aphria, Inc. (APHA.TO) (APHA) was one of the first Canadian cannabis producers to introduce financial published quarterly results. During the conference call, the management team highlighted the risk of price compression in Canada and this comment put additional pressure on Canadian cannabis producers.

Organizational chart Holdings Inc. (OGI.TO) (OGI) was lower after reporting quarterly financial results that fell short of expectations. This comes after the Canadian cannabis producer received a $ 171 million investment from British American Tobacco (BTI).

Increase in cannabis income Auxly Cannabis Group

Earlier this week, Auxly Cannabis Group Inc. (XLY.V) (CBWTF) financial results for the fourth quarter and full year and the market responded to the numbers. During the quarter, the Canadian cannabis company reported generating $ 18,3 million in net cannabis revenue. Compared to the same period last year, turnover has increased significantly. We attribute the growth to Auxly's cannabis 2.0 business.

In 2020, Auxly generated more than $ 50 million in revenue ($ 46,6 million in net cannabis revenue). Compared to 2019, revenues have increased by more than 500%. The comparable quarters in 2019 have a low bar and we are not surprised by Auxly's success. Over the past year, Auxly has significantly strengthened its balance sheet and this is an important development. The company has achieved this through a series of capital increases.

Read more technical420.com (Source, EN)

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