Origin House Had 'Another Quarter Of Record Revenue Growth'

CannaRoyalty Corp. d/b/a Origin HouseOHORHOF reported second-quarter revenue of CA$21.4 million, compared to CA$3.5 million in the same quarter of 2018.

The gross margin counting biological assets gains was CA $4.4 million. The company reported a net loss of CA$34.9 million, compared to a net income of CA$9.3 million in the prior-year period.

Its operating expenses reached CA$23.5 million while loss from operations was CA$19 million, compared to CA$6.3 million and CA$5.5 million in the second quarter of 2018.

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“I am very proud of the entire Origin House team for generating another quarter of record revenue growth, leveraging the California brand support and distribution platform we built over the past several years, to deliver results for shareholders," Marc Lustig, Chairman and CEO of Origin House said in a statement.

Origin House is a cannabis brands and distribution company that offers its services in the U.S. and Canada, working on becoming a superior global house of cannabis brands.

The stock traded higher by 2% around $5.45 per share on Wednesday.

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Posted In: CannabisEarningsNewsMarkets

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