Origin House cannabis revenues rise, but losses mount

Marijuana company Origin House posted revenue of 21.4 million Canadian dollars ($16 million) in the second quarter, a sixfold increase over the CA$3.5 million ($2.6 million) it reported for the same period a year ago.

But the Ottawa-based company’s losses totaled CA$34.9 million ($26.2 million) for the quarter ending June 30, compared with a profit of CA$9.3 million ($7 million) in the same three-month period of 2018.

Origin House, which changed its name from CannaRoyalty Corp. last year, is in the process of being acquired by Chicago-based multistate operator Cresco Labs in an $823 million deal.

The transaction still is under review by U.S. antitrust officials.

Origin House trades on the Canadian Securities Exchange (CSE) under the ticker symbol OH and on the U.S. over-the-counter market as ORHOF.

For more details about Origin House’s earnings report, click here.

For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.

Leave a Reply

Your email address will not be published. Required fields are marked *