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Aphria reported strong financial results for Q4 and FY2020, with net revenue reaching $152.2 million, a 5% increase from Q3 and an 18% increase year-over-year. Adult-use cannabis revenue rose 27% from the previous quarter, marking the fifth consecutive quarter of growth. The company achieved an adjusted EBITDA of $8.6 million, up 49% from Q3. Cash costs per gram decreased to $0.88, down 5%. Despite a net loss of $98.8 million due to a non-cash impairment, Aphria ended the quarter with a strong cash position of $497.2 million.
Aphria Inc. (TSX: APHA, Nasdaq: APHA) will release its financial results for the fourth quarter and full fiscal year ending May 31, 2020, on July 29, 2020. A conference call is scheduled for 9:00 AM ET to discuss these results, with dial-in options for Canada, the U.S., and international participants. The live webcast will also be available on Aphria's investor website, archived for 30 days. Aphria is committed to innovation and sustainability in the cannabis industry, leveraging technology to drive value and strategic partnerships globally.
Aphria announced the issuance of 1,658,375 common shares to Emblem Cannabis Corporation as part of a settlement agreement. This is in connection with a previous announcement made on June 25, 2020. The Settlement Shares were issued in Canada and rely on Regulation S under the U.S. Securities Act. This action is not an offer to sell or solicit purchases of the shares and is subject to specific securities regulations.
Aphria Inc. (APHA), along with Emblem Cannabis Corporation and Aleafia Health, announced a settlement agreement on June 25, 2020, resolving a dispute regarding the termination of their wholesale cannabis supply agreement. Emblem will receive C$29.1 million, which includes C$15.5 million in cash and shares worth C$10 million. The settlement entails a mutual release of claims and dismissal of ongoing arbitration. CEO Irwin D. Simon expressed satisfaction with the resolution, emphasizing the importance of focusing on future endeavors rather than litigation.
