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HEXO Stock Overview

HEXO Corp., together with its subsidiaries, produces, markets, and sells cannabis in Canada. More details

HEXO fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	0/6
Financial Health	2/6
Dividends	0/6

Rewards

Trading at 88.1% below our estimate of its fair value

Risk Analysis

Shareholders have been diluted in the past year

Does not have a meaningful market cap (CA$40M)

Currently unprofitable and not forecast to become profitable over the next 3 years

Volatile share price over the past 3 months

HEXO Corp. Competitors

Devonian Health Group

TSXV:GSD

CA$37.1m

Vext Science

CNSX:VEXT

CA$43.3m

Medexus Pharmaceuticals

TSX:MDP

CA$77.4m

FLUENT

CNSX:FNT.U

US$18.0m

Price History & Performance

Summary of share price highs, lows and changes for HEXO
Historical stock prices
Current Share Price	CA$0.91
52 Week High	CA$4.97
52 Week Low	CA$0.87
Beta	2.13
1 Month Change	-44.85%
3 Month Change	-48.59%
1 Year Change	-77.97%
3 Year Change	-98.27%
5 Year Change	-99.69%
Change since IPO	-98.95%

Recent updates

Bearish: Analysts Just Cut Their HEXO Corp. (TSE:HEXO) Revenue and EPS estimates

Mar 21

Shareholder Returns

	HEXO	CA Pharmaceuticals	CA Market
7D	-4.2%	-1.6%	-1.6%
1Y	-78.0%	-61.4%	9.4%

Return vs Industry: HEXO underperformed the Canadian Pharmaceuticals industry which returned -49.5% over the past year.

Return vs Market: HEXO underperformed the Canadian Market which returned 0% over the past year.

Price Volatility

Is HEXO's price volatile compared to industry and market?
HEXO volatility
HEXO Average Weekly Movement	15.8%
Pharmaceuticals Industry Average Movement	11.8%
Market Average Movement	8.6%
10% most volatile stocks in CA Market	17.4%
10% least volatile stocks in CA Market	3.4%

Stable Share Price: HEXO's share price has been volatile over the past 3 months.

Volatility Over Time: HEXO's weekly volatility (16%) has been stable over the past year, but is still higher than 75% of Canadian stocks.

Community vs My Fair Value

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About the Company

Founded	Employees	CEO	Website
2013	n/a	Charlie Bowman	www.hexocorp.com

HEXO Corp., together with its subsidiaries, produces, markets, and sells cannabis in Canada. The company offers its adult-use and medical products under the HEXO brand name. It also provides cannabis beverages under the Little Victory, House of Terpenes, Mollo, Veryvell, and XMG brands; and cannabis products under UP Cannabis, Original Stash, and Up brand names.

HEXO Corp. Fundamentals Summary

How do HEXO's earnings and revenue compare to its market cap?
HEXO fundamental statistics
Market cap	CA$40.04m
Earnings (TTM)	-CA$273.18m
Revenue (TTM)	CA$124.10m

0.3x

P/S Ratio

-0.1x

P/E Ratio

Is HEXO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
HEXO income statement (TTM)
Revenue	CA$124.10m
Cost of Revenue	CA$192.65m
Gross Profit	-CA$68.55m
Other Expenses	CA$204.64m
Earnings	-CA$273.18m

Last Reported Earnings

Apr 30, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	-6.21
Gross Margin	-55.23%
Net Profit Margin	-220.13%
Debt/Equity Ratio	124.7%

How did HEXO perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2023/06/23 09:08
End of Day Share Price	2023/06/22 00:00
Earnings	2023/04/30
Annual Earnings	2022/07/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

HEXO Corp. is covered by 23 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Aaron Grey	Alliance Global Partners
David Kideckel	ATB Capital Markets
Doug Cooper	Beacon Securities Limited

This company has been acquired

HEXO Stock Overview

Rewards

Risk Analysis

HEXO Corp. Competitors

TSXV:GSD

CA$37.1m

CNSX:VEXT

CA$43.3m

TSX:MDP

CA$77.4m

CNSX:FNT.U

US$18.0m

Price History & Performance

Recent News & Updates

HEXO Corp.(NasdaqCM:HEXO) dropped from NASDAQ Composite Index

HEXO Corp. announced that it has received $25 million in funding

Consensus EPS estimates upgraded to CA$0.81 loss, revenue downgraded

New minor risk - Financial position

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

HEXO Corp. to Report Q3, 2023 Results on Jun 14, 2023

Recent updates

HEXO Corp.(NasdaqCM:HEXO) dropped from NASDAQ Composite Index

HEXO Corp. announced that it has received $25 million in funding

Consensus EPS estimates upgraded to CA$0.81 loss, revenue downgraded

New minor risk - Financial position

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

HEXO Corp. to Report Q3, 2023 Results on Jun 14, 2023

Price target decreased by 22% to CA$1.64

Price target decreased by 9.1% to CA$1.95

Consensus revenue estimates decrease by 27%, EPS upgraded

Bearish: Analysts Just Cut Their HEXO Corp. (TSE:HEXO) Revenue and EPS estimates

Price target decreased by 11% to CA$2.28

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

HEXO Corp. Launches Enhanced Inhalation Technology

HEXO Corp Wins Complete Dismissal of Putative Québec Shareholder Class Action

HEXO Launches Five New Cannabis Strains Under Market-Leading Redecan and Original Stash Brands

Consensus revenue estimates fall by 17%

Price target decreased to CA$0.20

First quarter 2023 earnings: EPS and revenues miss analyst expectations

HEXO Corp., Annual General Meeting, Jan 31, 2023

Consensus EPS estimates fall by 12%

High number of new and inexperienced directors

Consensus EPS estimates fall by 12%

Consensus EPS estimates fall by 12%

Consensus forecasts updated

Full year 2022 earnings: EPS and revenues miss analyst expectations

Sundial Growers Inc. (NasdaqCM:SNDL) acquired Zenabis Global Inc. from HEXO Corp. (TSX:HEXO).

No longer forecast to breakeven

HEXO Granted Additional 180 Calendar Day Grace Period by Nasdaq to Regain Compliance with Minimum Bid Price Rule

Price target decreased to CA$0.29

High number of new and inexperienced directors

HEXO Corp. has completed a Follow-on Equity Offering in the amount of $40 million.

Sundial Growers Inc. (NasdaqCM:SNDL) entered into a purchase agreement to acquire Zenabis Global Inc. from HEXO Corp. (TSX:HEXO).

HEXO Corp. Announces CFO Changes, Effective May 16, 2022

HEXO Corp. Announces to Close Its Belleville Facility and Transition Its Operations

Forecast to breakeven in 2024

High number of new and inexperienced directors

Consensus EPS estimates fall by 718%

Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

High number of new and inexperienced directors

HEXO Corp. Announces Refreshed Board of Directors

HEXO Provides Nasdaq Listing Update

Olegna Holdings Inc acquired a 25% stake in Belleville Complex Inc from HEXO Corp. (TSX:HEXO) for $10.1 million.

High number of new directors

Consensus revenue estimates fall by 12%

First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

HEXO Corp. Reports Impairment Charges for the First Quarter Ended October 31, 2021

The Consensus EPS Estimates For HEXO Corp. (TSE:HEXO) Just Fell Dramatically

Price target decreased to CA$2.61

High number of new directors

Director & Co-Founder Sebastien St-Louis has left the company

Independent Chairman of the Board recently bought CA$260k worth of stock

Full year 2021 earnings released: CA$0.90 loss per share (vs CA$7.06 loss in FY 2020)

Full year 2021 earnings released: CA$0.90 loss per share (vs CA$7.06 loss in FY 2020)

Price target decreased to CA$4.95

Price target decreased to CA$6.12

HEXO Corp. (TSX:HEXO) completed the acquisition of 48North Cannabis Corp. (TSXV:NRTH) from Canopy Growth Corporation (TSX:WEED), Wallington Investment Holdings Limited and others.

HEXO Corp. (TSX:HEXO) completed the acquisition of 9037136 Canada Inc. (“Redecan”) from Will Montour, Pete Montour and family.

Price target decreased to CA$7.61