Always question what you read$38.7 million ? It was $32.88 millions two quarters back. With the $6 millions from Zena, it is the same as two quarter back. The revenues stalled. Quarter to quarter is a comparison with the previous one. The previous one was so bad, no wonder the 43% increase. Think about how the news are presented. How about comparing it to the two quarters back one? As I often said, the competition is ferocious and the pie is too small for the 791 cannabis companies
"791 entries" in Canada. They don't competition all in the same branch, though many are, including the private ones we never heard of. It is just the first day of such a disatrous QR. I take another short position for Monday. No cover for my actual shorts.
https://www.canada.ca/en/health-canada/services/drugs-medication/cannabis/industry-licensees-applicants/licensed-cultivators-processors-sellers.html Hexo Corp (TSX: HEXO) this morning reported its fourth quarter financial results for 2021, posting net cannabis revenue of $38.7 million for the three month period. The company also posted a net loss for the period of $68.0 million.
The quarter was Hexo’s best to date, with revenues increasig 43% on a quarter over quarter basis, partially the result of Zenabis’ revenue now being added to the mix. The brand reportedly added $6.8 million in revenue for the two month period ended July 31 following the close of the transaction on June 1.