CannaRoyalty Corp. (CSE: OH) (OTC: ORHOF), which operates under the name Origin House, posted third-quarter revenue of CA$22.8 million ($17.2 million) Wednesday, 244% higher than CA$6.6 million in the same quarter of 2018.
The cannabis company’s quarterly net loss totaled CA$25.6 million versus a net loss of CA$7.5 million in the same period last year.
The net loss per basic and diluted share amounted to CA$0.34, more than double the CA$0.12 per share loss in the third quarter of 2018.
Origin House reported negative EBITDA of CA$12.1 million compared to an adjusted EBITDA loss of CA$2.1 million one year ago.
“I am very proud of our team’s performance during the first nine months of 2019, with revenue of $55.3 million up more than fivefold from the same period last year,” Origin House Chairman and CEO Marc Lustig said in a statement.
“Our growth during Q3 speaks to the strength of the organization, given the dedication of substantial resources to the Cresco Labs Inc (OTC: CRLBF) arrangement transaction and headwinds from the vape crisis, which impacted both our California and Canadian operations.”
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