Cannabis producer HEXO Corp. (NASDAQ: HEXO) has reported a wider net loss for the second quarter of 2022. However, the Canada-based company’s revenues increased 61% during the three-month period.
Net loss and comprehensive loss widened to C$690.3 million in the January quarter from C$20.8 million in the prior-year period.
At C$52.8 million, net revenues were up 61% year-over-year, reflecting double-digit growth in the adult-use and medical cannabis segments. International cannabis revenues more than doubled.
The value of Hexo shares more than halved in the past six months at the Nasdaq stock exchange and slipped below one dollar. The stock traded lower in early trading on Tuesday.
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