Origin House Generates C$22.8 Million In Revenue for Q3 2019

On Wednesday (November 27), Origin House (CSE:OH,OTCQX:ORHOF) announced its financial results for the three and nine-month periods ended September 30, 2019.

As quoted in the press release:

Financial Highlights for the third quarter ended September 30, 2019

The following are the major financial highlights of Origin House’s operating results for the three months ended September 30, 2019, compared to the three months ended September 30, 2018:

• revenues were $22.8 million as compared to $6.6 million, an increase of 244%;

• gross margin was $5.7 million as compared to $0.3 million, an increase of 1796%;

• operating expenses were $19.8 million as compared to $10.1 million, an increase of 97%;

• net loss of $25.6 million as compared to net loss of $7.5 million, a decrease of 242%;

• net loss per basic and diluted share of $0.34 as compared to net loss per share of $0.12, a decrease of 183%; and

• adjusted EBITDA loss of $12.1 million as compared to adjusted EBITDA loss of $2.1 million, a decrease of 470%.

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