GATINEAU, Que. – Hexo Corp. says its most recent quarter delivered a $52.1 million net loss as the cannabis company purged unprofitable products and streamlined its business.<\/p>\n
The Gatineau, Que.-based firm's first quarter net loss compared with a net loss of more than $116.9 million a year earlier.<\/p>\n
The loss for the period ended Oct. 31 amounted to a net loss of nine cents per basic and diluted share compared with a net loss of 46 cents per basic and diluted share a year prior.<\/p>\n
Net revenue in the quarter totalled $35.8 million, down from $50.2 million in the same period last year.<\/p>\n
Hexo's financial results were released at the same time as it announced a share consolidation that will combine 14 common shares into one share.<\/p>\n
Hexo says the consolidation is expected to take place around Dec. 19 and will affect Hexo's listings on the Toronto Stock Exchange and Nasdaq.<\/p>\n
This report by The Canadian Press was first published Dec. 16, 2022.<\/p>\n
Companies in this story: (TSX:HEXO)<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
GATINEAU, Que. – Hexo Corp. says its most recent quarter delivered a $52.1 million net loss as the cannabis company purged unprofitable products and streamlined its business. The Gatineau, Que.-based firm's first quarter net loss compared with a net loss of more than $116.9 million a year earlier. The loss for the period ended Oct. […]<\/p>\n","protected":false},"author":362,"featured_media":1034,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"The Canadian Press","published":"2022-12-16T06:54:38","updated":"2022-12-17T22:00:00","_infotelid":"IT95793","_prepressid":"95793","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[379,2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-18","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured3","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/18\/hexo-reports-52-1m-net-loss-in-q2-announces-share-consolidation\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Hexo reports $52.1M net loss in Q2, announces share consolidation","url":"http:\/\/infonews.ca\/in420\/news\/18\/hexo-reports-52-1m-net-loss-in-q2-announces-share-consolidation\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/18\/hexo-reports-52-1m-net-loss-in-q2-announces-share-consolidation\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID95793-3548.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID95793-3548.jpg"},"articleSection":"featured3","author":[{"@type":"Person","name":"Howard Alexander"}],"creator":["Howard Alexander"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2022-12-16T14:54:38Z","datePublished":"2022-12-16T14:54:38Z","dateModified":"2022-12-18T06:00:00Z"},"rendered":"