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":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"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":"","jetpack_post_was_ever_published":false},"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":[],"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID95793-3548.jpg","post_modified":"2022-12-17T22:00:00","post_modified_gmt":"2022-12-18T06:00:00","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/18","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/362"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=18"}],"version-history":[{"count":3,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/18\/revisions"}],"predecessor-version":[{"id":3489,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/18\/revisions\/3489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1034"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=18"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=18"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=18"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=18"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}