June 11, 2020 / 11:42 AM / 25 days ago

BRIEF-Hexo Says Net Revenue Up 30% To $22.1 Million

June 11 (Reuters) - Hexo Corp:

* . REPORTS THIRD QUARTER FISCAL 2020 FINANCIAL RESULTS; NET REVENUE UP 30% TO $22.1 MILLION, IMPROVED OPERATIONAL PERFORMANCE

* NET REVENUE INCREASED 30% TO $22.1 MILLION FROM $17.0 MILLION IN Q2

* HEXO - QTRLY NEGATIVE ADJUSTED EBITDA $4.3 MILLION VERSUS NEGATIVE $8.5 MILLION

* Q4 REVENUE VIEW C$22.5 MILLION — REFINITIV IBES DATA

* HEXO - PLANS TO ACHIEVE ADJUSTED. EBITDA POSITIVE IN H1 2021 WILL DEPEND ON GROWTH OF RETAIL STORES IN TWO LARGEST MARKETS, ONTARIO & QUEBEC

* DIFFICULT TO DETERMINE TIMING OF NEW LICENSES FOR NEW RETAILS STORES IN ONTARIO, BUILD OUT OF ADDITIONAL STORES IN QUEBEC Source text for Eikon: Further company coverage:

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