Organigram Global Inc. reports developments tied to its Canadian cannabis cultivation, processing, branded adult-use products and cannabinoid beverage business. The company operates through subsidiaries including Organigram Inc., a licensed cultivator and processor, and participates in U.S. and Canadian cannabinoid beverages through Collective Project Limited.
Recurring news themes for OGI include operating and financial results, cannabis product launches, brand extensions, international partnership activity, and regulatory matters under Health Canada’s Cannabis Act and Cannabis Regulations. Company updates also cover brands such as Edison, Big Bag O’ Buds, SHRED, Monjour, Tremblant, Collective Project, Trailblazer, BOXHOT and DEBUNK; the FAST nanoemulsion technology platform; and production, edibles, extraction, packaging and fulfillment facilities in Canada.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Organigram Holdings (NASDAQ: OGI) reported strong financial results for Q2 Fiscal 2023, achieving net revenue of $39.5 million, a 24% increase from $31.8 million in the same quarter last year. The adjusted gross margin improved to $13.4 million (34%), up from $8.3 million (26%). Notably, the company posted an adjusted EBITDA of $5.6 million, marking the fifth consecutive quarter of positive results, compared to $1.6 million in Q2 Fiscal 2022. Despite facing pricing pressures, particularly in large format flower SKUs, Organigram anticipates continued growth, with expectations for higher revenues in Q3 Fiscal 2023 driven by innovation and expanded product lines.