Many Canadian cannabis companies have begun to report their latest financial results following recreational sales.

Due to the lofty valuations, many cannabis company investors are looking for solid revenue growth.

The four Canadian marijuana stocks we have weeded out have average revenue growth of 362% quarter over quarter, with share price appreciation of ~6% over the past month.

Organigram Holdings Inc. (TSXV:OGI) -$7.83
Cannabis

Organigram Holdings is a Canada-based company that produces and sells cannabis oil and dried cannabis through its subsidiaries. Since 2013, and with the help of healthcare providers, the Company is focused on delivering safe, effective, and quality products. OGI has increased its production capacity to 36,000k/year and is anticipating a production increase to 113,000kg/year by October 2019. As the leading company in the Atlantic provinces, OGI surpasses Canopy Growth Corp (TSX:WEED), Aphria Inc (TSX:APHA), and Aurora Cannabis (TSX:ACB), with a market share of 24% in Prince Edward Island and Nova Scotia. On February 22, the Company reported net revenue of $12.4M, with cultivation cash costs of $0.56/gram, and an adjusted gross margin of 71% ($8.8M). Furthermore, with one of the highest inventories in the industry, and ~$91M worth of product ready for shipment, the Company expects to double its sales in Q2/19.

• Q1/19 Net Revenues: $12.4M
• QoQ Revenue Growth: 287%
• Market Cap: $1,025.1 million
• 1-Month Total Return: 10.4%

HEXO Corp. (TSX:HEXO) -$7.48
Cannabis

HEXO Corp. produces, markets, and sells cannabis products in Canada. The Company is one of the largest licensed cannabis companies in Canada, operating over 1.3 million sq. ft. of facilities in Ontario, Quebec, and Greece, where it plans to establish a Eurozone processing, production, and distribution centre. On December 13, the Company released its first-quarter financial results of the new fiscal year. The Company reported $6.7 million in gross revenues and sales of $5.2 million of cannabis during the first two weeks of Canadian legalization.

• Q1/19 Net Revenues: $5.6M
• QoQ Revenue Growth: 414%
• Market Cap: $1,553.2 million
• 1-Month Total Return: +7.3%

National Access Cannabis Corp. (TSXV:META) -$0.70
Cannabis

National Access Cannabis Corp. (NAC) is a leader in delivering secure, safe, and responsible access to the legal marijuana industry in Canada. National Access Cannabis provides patients with information and access to Canada’s network of authorized Licensed Producers of cannabis through its nation-wide network of clinics, partner pharmacies, research division, and recreational retail stores. NAC also opened 17 retail locations by the end of Q1/2019, reporting a 32% gross margin on retail cannabis products.

• Q1/19 Net Revenues: $3.7M
• QoQ Revenue Growth: 674%
• Market Cap: $129.5 million
• 1-Month Total Return: +9.4%

Nutritional High International Inc. (CSE:EAT) -$0.28
Cannabis

Nutritional High International engages in the developing, manufacturing, and distributing of cannabis extracts and edible products for medical and recreational use. The Company works with licensed facilities in legalized jurisdictions. The Company brought its flagship FLÏ™ edibles and extracts product line from production to market through its wholly-owned subsidiaries. On January 29, the Company entered into a letter of intent to buy a 51% interest in cannabis-infused edibles producer, SolDaze. On February 1, the Company reported that the City of Sacramento Cannabis Policy and Enforcement has rescinded local authorization for cannabis manufacturing for Pasa Verde, LLC, a subsidiary of the Company.

• Q1/19 Net Revenues: $5.7M
• QoQ Revenue Growth: 74%
• Market Cap: $86.5 million
• 1-Month Total Return: -3.5%