Cannabis distributor, HEXO Corp (TSX:HEXO) has generated a net loss of C$364.3 million in the last six months. This is a significant loss, when compared to the $17.1 million loss the company reported for the same period in 2018. Much the steep loss is attributable to a single impairment charge. After assessing the Niagara facility's assets and longevity, HEXO placed the property up for sale. This resulted in substantial impairment loss of $138 million. Ignoring non-cash losses and impairment charges, HEXO generated a net loss of around $57 million in the 2020's first two quarters. These operational losses are perhaps more concerning and show the general downturn in the cannabis industry over the last few months. HEXO believes that delays in cannabis related government approvals and a decline in retail sales have slowed distribution considerably. Despite the poor performance, Sebastien St-Louis, CEO and co- founder of HEXO Corp, believes the company is well prepared for the difficult industry environment.