HEXO Corp Q3 Revenue Declines 3% from Q2 to $13 Million

HEXO Corp reports third quarter 2019 financial results

Key highlights of third quarter of 2019 fiscal year

  • HEXO remains on-track ramping up to $400 million net revenue in fiscal 2020 and to double net revenue in Q4 fiscal 2019
  • Entered a syndicated credit facility with CIBC and BMO for up to $65 million available credit to fund continuing expansion and innovation initiatives.
  • 9,804 kg of dried cannabis produced, an increase of 98% over the previous quarter
  • 2,904 kg of gram and gram equivalents sold, an increase of 8% quarter over quarter
  • Headcount more than doubled from 364 to 822
  • Completed first harvests in new 1,000,000 sq. ft. expansion as HEXO continues ramping up to annual production capacity of 150,000 kg of dried cannabis
  • Secured 60,000 kg of hemp to be supplied for CBD extraction purposes in preparation

    ... read more at: https://www.newcannabisventures.com/hexo-corp-q3-revenue-declines-3-from-q2-to-13-million/