HEXO Beats on Revenue, Narrows Net Loss in Fiscal 2021 Q1

On Monday, HEXO (NYSE: HEXO) reported results from the first quarter of its fiscal 2021, and the numbers weren't half-bad as far as marijuana companies go.

For the period, which ended Oct. 31, the cannabis company's gross revenue was just over 41.3 million Canadian dollars ($32.3 million) -- the highest in its history. It was also up 14% on a quarter-over-quarter basis, and topped the year-ago figure by 114%.

While HEXO again booked a net loss -- of nearly CA$4.2 million ($3.3 million) -- that was much narrower than in previous periods. The quarter-ago shortfall was nearly CA$170 million ($133 million), while the company lost CA$66 million ($52 million) in the same period of fiscal 2020.

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Source Fool.com