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HQ: Leamington, Ontario, Canada
Facilities: Ontario and now British Columbia (from purchase of Broken Coast and Cannan Growers)
Facilities include: Aphria One, Aphria Diamond, Broken Coast. Also has international operations.
CEO: Vic Neufeld

Primary: Low-cost greenhouse production of high-quality medical cannabis in Canada. Ramping up for adult use market when legalized in Canada (October 2018), and planning significant exporting to global medical cannabis markets.
Secondary: support services including medical consultations, group therapies, and rehabilitation to veteran and first responders

Market Cap: $2.05 billion
Enterprise Value: $1.95 billion
Size within cannabis industry: 5th of 200+
Size within cultivators: 3rd of roughly 40
# of employees: 150

Markets: Strong
Primary: Canada, US and Australia
Secondary: In 2018, increased international operations to include Germany, Italy, Malta, Lesotho, Colombia, Argentina, United Kingdom and Uruguay. Jamaica and Brazil coming in the fall. Possibly Israel.

Cultivation: Strong
Current production: 30,000 kgs/year at Aphria One and 5,000 at Broken Coast
Future capacity: 250,000 kg/yr, fully producing by Jan 2019
Distribution: Strong
Direct sales: yes, online through its online store or phones. Also wholesale shipping of MMJ plant cuttings and dried buds to other licensed producers.

Financials: Strong
Kilograms sold: Q4 1,312
Revenue rank in industry: 8th
Revenue growth (QoQ): +20%
Net income per share: $0.08/share
Cost to produce per gram:   $0.95
Total cost per gram: $1.60
Cost per gram rank in industry: N/A
Cash: $104 million

Management: Strong
CEO: Vic Neufeld
CFO: Carl Merton
CSO: Gary Leong (science officer)

Aphria’s current product packaging for medical cannabis is plain and simple, typical for the medical field. We do not yet see signs from Aphria of branding that would push it into the forefront of adult use brands.

Valuation: Neutral
Current share price: $ 8.72
EV / Revenue: 41
EV / Revenue rank in industry: N/A

Recommendation: Strong