In June, Hexo reported a number of company-specific stumbles that resulted in lost market share. It removed well-performing products from Quebec, a key market for the company. Hexo also said it sold hash that was not as potent as competitors, and was "absolutely surprised" by the quality of products from craft competitors. "Q3 was our fault," St-Louis told analysts on a post-earnings conference call on June 14. The company reported a wider-than-expected $20.7 million net loss on $22.6 million in sales for the three-months ended April 30. Toronto-listed Hexo shares dipped 2.79 per cent on Monday, to $2.09 at 2:41 p.m. ET. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.