Cannabis producer Hexo reports C$1.1 billion loss this year

Quebec, Canada-based cannabis producer Hexo Corp. reported a fourth-quarter net loss of C$102.4 million ($75 million), bringing the company's total loss for the year to C$1.1 billion. The recent annual loss brings Hexo's cumulative deficit to C$1.8 billion, and the company "has not yet generated positive cash flow or earnings," according to an SEC filing. The majority of Hexo's sales come from its home province of Quebec. Alberta accounted for 15% of Hexo's sales, and Ontario cannabis stores accounted for almost one-third of Hexo's sales, up from one-fifth the previous year. As of July 31, 2022, Hexo had $83.2 million in cash and cash equivalents.

Information source: new.qq.com/omn/author/8713560