Welcome to our dedicated page for HEXO news (Ticker: HEXO), a resource for investors and traders seeking the latest updates and insights on HEXO stock.
HEXO Corp., formerly known as Hydropothecary, is a leading licensed producer and distributor of medical marijuana under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). Dedicated to medical excellence, HEXO excels in advanced cultivation techniques, stringent process controls, quality assurance testing, ongoing research and development, and exceptional customer service.
With a focus on expanding its operations, HEXO is set to add a significant 250,000 square feet greenhouse in 2018 to meet growing demand. The company is constantly seeking talented, energetic, and specialized professionals to join its dynamic team and contribute to the rapidly evolving cannabis industry.
HEXO's product portfolio includes a wide range of medical cannabis products designed to meet the diverse needs of patients. The company is committed to innovation and quality, ensuring that all products meet the highest standards of safety and efficacy.
In recent news, HEXO Corp. has announced key partnerships and strategic initiatives aimed at bolstering its market position and expanding its product offerings. These include collaborations with leading organizations and the introduction of new, innovative products that cater to both the medical and recreational cannabis markets.
Financially, HEXO has shown remarkable growth, reflecting its strong market presence and operational efficiency. The company continues to invest in infrastructure and technology to support its long-term growth strategy and maintain its competitive edge in the industry.
For more information on HEXO Corp.'s latest developments, financial performance, and upcoming projects, visit our news section for the most updated data and insights.
HEXO Corp. has entered into a definitive arrangement agreement with Tilray Brands, Inc. to facilitate the acquisition of HEXO Shares. Under this arrangement, HEXO Shareholders will receive 0.4352 Tilray Shares for each HEXO Share, equating to a purchase price of
HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) reported Q2 FY23 results, achieving a positive net income of $0.7 million, marking its first-ever profit. Adjusted gross margins improved from 40% to 45%, with net revenues declining 32% to $24.2 million compared to Q1 FY23 and down 57% from Q2 FY22 due to increased competition and pricing pressure. Total operating expenses remained flat at $23.8 million, significantly lower than the previous year, primarily due to impairment charges in FY22. The company generated $5.3 million in cash from operations and paid off $40.7 million in debt. Management emphasizes a focus on profitability despite overall revenue challenges.
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