What happened Shares of Hexo (NYSE: HEXO) were jumping 5.9% higher as of 11 a.m. EDT on Thursday. The gain came after the Canadian cannabis producer announced its fiscal 2021 second-quarter results before the market opened. So what Investors liked what they saw with Hexo's results. The company generated net revenue of 32.8 million in Canadian dollars, a whopping 94% year-over-year increase and up 12% from the quarter ending Oct. 31, 2021. Image source: Getty Images. Hexo's cannabis beverage business continued to perform well. Sales rose 11% quarter over quarter. The company retained its No. 1 spot in market share in the beverage category. While Hexo posted another net loss of CA$20.8 million, the company delivered its seventh consecutive quarter of improving adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). Hexo reported positive adjusted EBITDA of CA$202,000 in fiscal Q2. Now what The big thing to look forward to with Hexo now is its planned acquisition of Zenabis. Hexo CEO Sebastien St-Louis said the company thinks the deal will put Hexo in a position to achieve "accelerated domestic and international growth." This transaction will also put Hexo in the top three Canadian marijuana stocks based on Canadian adult-use cannabis revenue. Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. And make no mistake – it is coming. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. Simply click here to get the full story now. Learn moreKeith Speights has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.Source