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