- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
HEXO issued its financial results for the first quarter of its 2019 fiscal year.
HEXO (TSX:HEXO) issued its financial results for the first quarter of its 2019 fiscal year.
As quoted in the press release:
“HEXO hit tremendous milestones in the weeks following the legalization of adult-use cannabis,” said HEXO’s CEO and co-founder Sebastien St-Louis. “The Company continues to honour its commitment to executing on its plans, which has led to a significant portion of our first quarter’s [C]$6.7 million in revenue generated in just two weeks and represents more than a 500 [percent] increase over last quarter.”
ADULT-USE SALES
The Company realized its first adult-use revenues during the first quarter of fiscal 2019. Adult-use sales totaled [C]$5,194 in this period which is a 371 [PERCENT] increase over the [C]$1,102 of medical sales in the first quarter of 2018, and a 5 [percent] increase over the [C]$4,934 of total medical sales in all of fiscal 2018. This is a direct result of the Company’s introductory brand awareness campaign.
Sales volume in the first quarter of 2019 was 952,223 gram equivalents sold. Dried flower represented 81 [percent] of gram equivalents sold during the period.
Adult-use revenue per gram equivalent was [C]$5.45. This is reflective of 81 [percent] of these sales pertaining to dried flower which command a competitive market sales price. The remaining balance primarily represents oil sales which command a higher revenue per gram equivalent.
During the period, 90 [percent] of all adult-use sales were realized in Quebec through the SQDC with the remaining 10 [percent] derived in Ontario and British Columbia via the OCS and BCLDB respectively.
Click here to read the full press release.
Source: globenewswire.com
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.