When Canadian marijuana producer HEXO (NYSEMKT:HEXO) reported its fiscal 2019 first-quarter results in December, the company’s revenue included only two weeks of recreational marijuana sales. Investors didn’t get a full picture of how much growth HEXO would actually generate with the new market. But that picture is now pretty clear.
HEXO announced the results from its fiscal 2019 second quarter, which ended on Jan. 31, before the market opened on Thursday. Here are the highlights from the company’s update. (All figures are in Canadian dollars.)
HEXO results: The raw numbers
What happened with HEXO this quarter?
It’s not surprising what drove HEXO’s tremendous sales growth. Over 91% of the company’s second-quarter revenue, nearly CA$14.8 million, came from the Canadian adult-use recreational marijuana market.
It’s also not surprising where HEXO made most of its sales. The company has a major supply agreement with