Aleafia Health's Q3 Cannabis Revenue Grows 123% YoY, Reports Higher Net Loss, Negative Adjusted EBITDA

Vertically-integrated cannabis company Aleafia Health Inc. (TSX: AH) (OTCQX: ALEAF) reported its third-quarter earnings Thursday with net cannabis revenue of $9.49 million, representing an improvement of 123% from $4.25 million in the same period of the prior year.

Q3 Financial Summary

  • Net loss amounted to $82.92 million, which compares to a net loss of $19.76 million in the third quarter of 2020;    Adjusted EBITDA came in negative at $7.6 million, versus an adjusted EBITDA loss of $5.21 million in the corresponding prior-year period.             
  • SG&A expenses declined 24% over the previous quarter;
  • Adult-use cannabis net revenue improved 2,044% year-over-year …

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