Hexo Corp. /zigman2/quotes/206508254/composite HEXO +10.60% /zigman2/quotes/200008967/delayed CA:HEXO +8.00% said Monday it had a net loss of C$298.2 million ($210.8 million) in its fiscal second quarter to Jan. 31, far wider than the loss of C$4.3 million posted in the year-earlier period. The Quebec-based Canadian cannabis company did not offer a per-share figure. Revenue net of excise taxes came to C$17.0 million, up from $13.4 million a year ago. Revenue from sales of adult-use cannabis rose to C$16.3 million from C$12.2 million a year ago. The company said it wrote down surplus cannabis trim and milled products valued at C$3.1 million, due to an excess of supply related to its short-term demand for cannabis distillate production. It also wrote down a concentrated bulk purchase of C$11.8 million that was partly due to oversupply in the market. The bulk product was acquired through a supply agreement that is currently the subject of litigation. The company booked an impairment loss of C$138.3 million relating to its Niagara faility which is up for sale and on intangible assets acquired from Newstrike Brands. It also booked a goodwill impairment charge of C$111.9 million. The company said its manufacturing facilities remain open during the coronavirus outbreak but it has introduced working-from-home policies and cleaning measures to protect staff. Shares fell 2.8% premarket and are down 31% in the year to date.