Heritage Cannabis Holdings Corp. HERTF CANN Q 3 2022 net revenue was CA $7.5 million $5.46 million, a 73% increase compared to CA $4.3 million in Q 3 2021.
CA $2.8 million or CA $0.00 loss per share was compared to a total loss of CA $6.6 million or CA $0.01 loss per share for the three months ended July 31, 2021, according to a comprehensive loss of CA $6.6 million or CA $0.01 per share.
This is a tremendous achievement by the entire team at Heritage in the third quarter. We are proud to state that we have marked our second consecutive quarter of positive EBITDA, given the sector's headwinds and after normalizing for isolated events in the quarter. David Schwede, CEO of Heritage, said it was our sixth consecutive quarter of increasing revenue and that the team focused on growing revenue through the addition of sales channels and further expansion of our already successful portfolio of products.
Our platform approach has protected us from significant challenges across the industry and we will continue to execute on our business strategy, focusing on cost management and driving revenue, which was up over 165% from the same time a year ago. Our team is driven to innovate and propel growth, and the delivery of positive financials this past quarter is an important milestone for the company and what is ahead for us. Heritage is on a clear path for success because of multiple new brand and product launches on the near-term horizon, as well as the imminent launch of product sales in the U.S. that contribute to revenue. The Cannabis Market In West Virginia Gets A New Player In Lower Competition