This statistic highlights HEXO’s Average Selling Price for Medical Wholesale and Adult-Use Cannabis starting from Q4 of 2018 to the latest quarter.
HEXO Corp is a Canada based company that creates and distributes cannabis products to serve customers in the Canadian cannabis market. The company serves medical clients through the Hydroprothecary brand and adult users under the HEXO brand. It is one of the largest licensed cannabis companies in Canada. HEXO Corp. operates with 1.8 million sq. ft of facilities in Ontario and Quebec and a foothold in Greece to establish a Eurozone production and distribution center. The company’s products under the Hydropothecary brand include dried marijuana buds for different times of the day, marijuana powder, cannabis oil, and sprays. They currently hold more than 2.5 million square feet of cultivation land. Hydropothecary currently operates a 143-acre land in Quebec.
The average selling price for medical marijuana was $9.26 in the last quarter of 2018. The price went down to $9.12 in the first quarter, $9.15 in the second quarter, $9.11 in the third quarter and $8.34 in the last quarter. The price went down further to $8.12 in the first quarter of 2020 and $7.87 in the second quarter.
The average selling price for the adult-use marijuana products was at $5.45 in the first quarter of 2019 and then went up to $5.83 in the second quarter, $5.29 in the third quarter, and dropped to $4.74 in the last quarter. The price continues to drop in 2020 to $4.35 in the first quarter and $3.49 in the second quarter.
The average selling price for wholesale of marijuana was at $0.56 in the last quarter of 2019.
The company’s selling price has dropped in recent years but it’s sales especially from selling adult-use marijuana has been increasing every year. The company’s revenue’s also hit an all-time high in 2019 when they started selling marijuana for adult use. The company’s net revenue for 2019 was approximately $46.33 million which was a huge increase from the previous year’s net revenue of %7.82 million.
HEXO is still an early-stage company and the cannabis industry and firms still have a long way to go. The marijuana industry is considered an emerging industry not just in the American region but across the world. Medical marijuana is increasingly being used in therapy. Cannabis oil has also seen an increase in demand. As time passes by the company is continuously looking to innovate and come out with new products to attract customers in the cannabis market.
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* Billed annually, local taxes extra.
* Local taxes extra.