HEXO Corp. (HEXO) Q3 Revenue Rise 2% YoY

HEXO Corp. (NYSE: HEXO) reported Q3 revenue of Cdn$22.66 million, versus Cdn$22.13 million reported last year. In the January 2021 quarter, revenue was Cdn$32.88 million.

“At the advent of legalization, we articulated a plan to become a top three cannabis player in the Canadian adult-use market. With the acquisition of Zenabis and the announcements of intent to acquire 48North and Redecan, we are on the verge of surpassing that objective to become the no.1 licensed producer by recreational market share,” said HEXO CEO and co-founder Sebastien St-Louis. “While this was a challenging quarter, we maintained our number one position in the beverage category and increased our net sales outside of Quebec by 169% over last year, including 14% sequential quarterly growth in Ontario, while continuing to maintain our number one position as the preferred supplier to Quebec. Moving forward, we are committed to rebuilding our strain strategy and brand mix in the province of Quebec to ensure we meet consumer needs and maintain our dominant position in the province.”

For earnings history and earnings-related data on HEXO Corp. (HEXO) click here.

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