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.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Hexo's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Hexo's position in the market.
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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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