Cannabis producer HEXO Corp. (NASDAQ: HEXO) has reported a narrower net loss for the second quarter of 2023, on an adjusted basis, amid a sharp fall in operating expenses. The Canada-based company’s revenues declined during the three-month period.
Comprehensive loss narrowed sharply to C$11.1 million in the January quarter from C$690.3 million in the corresponding period of fiscal 2022.
At C$24.2 million, net revenues were down 54% year-over-year, reflecting lower sales across all the main operating segments. Total operating expenses declined 96% year-over-year.
“SG&A spending is down 11 percent or $1.5 million compared to the previous quarter. We also made significant progress in our trade accounts receivable with a $21 million reduction compared to the first quarter and have paid off $40.7 million in debt,” said Hexo’s CFO Julius Ivancsits.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Earnings Preview: What to look for when Netflix (NFLX) reports Q4 2025 results
Netflix, Inc. (NASDAQ: NFLX) is expected to report Q4 results on January 20, amid expectations for strong revenue and earnings growth. The company is navigating a shifting streaming landscape where
What to look for when United Airlines (UAL) reports its Q4 2025 earnings results
Shares of United Airlines (NASDAQ: UAL) stayed red on Thursday. The stock has gained 15% over the past three months. The airline is scheduled to report its earnings results for
Infographic: How Constellation Brands (STZ) performed in Q3 2026
Constellation Brands, Inc. (NYSE: STZ) reported net sales of $2.22 billion for the third quarter of 2026, down 10% year-over-year. Organic net sales were down 2%. Net income attributable to
