Hexo loss narrows as second-quarter revenue hits C$13.4 million
Quebec-based cannabis company Hexo Corp. HEXO, +6.63% HEXO, +5.81% said Thursday it had a net loss of C$4.33 million in its fiscal second quarter to Jan. 31, narrower than the C$8.95 million loss posted in the year-earlier period. But revenue rose to C$13.4 million from C$1.2 million in the first full quarter since Canada legalized cannabis for adult recreational use. The company sold 2,537 kg of adult-use cannabis, up from 952 kg in the previous quarter, at an average price of C$5.
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