OTTAWA – Hexo Corp. reported a loss of $20.7 million in its latest quarter compared with a loss of $19.5 million in the same quarter last year.<\/p>\n<\/p>\n
The cannabis company says the loss amounted to 17 cents per diluted share for the quarter ended April 30 compared with a loss of 26 cents per diluted share a year earlier when it had fewer shares outstanding.<\/p>\n<\/p>\n
Net revenue totalled $22.7 million, up from $22.1 million in the same quarter last year.<\/p>\n<\/p>\n
Hexo has made a series of acquisitions this year in a bid to grow market share.<\/p>\n<\/p>\n
Last month, Hexo announced an agreement to buy cannabis producer Redecan for $925 million in cash and shares as well as another deal to buy 48North Cannabis Corp. for $50 million.<\/p>\n<\/p>\n
In February, it said it would spend $235 million to buy Zenabis Global Inc. and its Namaste, Re-Up, Blazery and Founders Reserve brands. <\/p>\n<\/p>\n
This report by The Canadian Press was first published June 14, 2021.<\/p>\n<\/p>\n
Companies in this story: (TSX:HEXO)<\/p>\n<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
OTTAWA – Hexo Corp. reported a loss of $20.7 million in its latest quarter compared with a loss of $19.5 million in the same quarter last year. The cannabis company says the loss amounted to 17 cents per diluted share for the quarter ended April 30 compared with a loss of 26 cents per diluted […]<\/p>\n","protected":false},"author":522,"featured_media":1579,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"","published":"2021-06-13T22:54:58","updated":"","_infotelid":"CP1210798364","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[383,2,381],"tags":[],"region":[309,310,311,312],"class_list":["post-1580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in420","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/1580\/cannabis-company-hexo-reports-20-7m-q3-loss-revenue-edges-higher\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cannabis company Hexo reports $20.7M Q3 loss, revenue edges higher","url":"http:\/\/infonews.ca\/in420\/news\/1580\/cannabis-company-hexo-reports-20-7m-q3-loss-revenue-edges-higher\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/1580\/cannabis-company-hexo-reports-20-7m-q3-loss-revenue-edges-higher\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/20210614080632-60c74c633caa20a2c64b0426jpeg.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/20210614080632-60c74c633caa20a2c64b0426jpeg.jpg"},"articleSection":"business","author":[{"@type":"Person","name":"The Canadian Press"}],"creator":["The Canadian Press"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2021-06-14T05:54:58Z","datePublished":"2021-06-14T05:54:58Z","dateModified":"2021-06-14T12:54:58Z"},"rendered":"