Organigram Global Inc Stock Price, News & Analysis

Organigram Holdings (OGI) announced its Q2 results ending February 28, 2022, showcasing a remarkable 128% increase in gross revenue to $43.9 million and a net revenue surge of 117% to $31.8 million, marking the highest in company history. The company achieved positive Adjusted EBITDA of $1.6 million two quarters earlier than forecasted. Additionally, it gained a 8.2% market share in Canada, maintaining its top position in the dried flower category. The successful integration of the Laurentian acquisition further boosts its portfolio and market presence.

Organigram Holdings Inc. (NASDAQ: OGI), a top cannabis producer, will report its second quarter 2022 earnings results on April 12, 2022, prior to market opening. The Company will hold a conference call on the same day at 8:00 am ET to discuss the results. Interested parties can register for the call through a provided link and also access a webcast of the discussion. A replay will be available within 24 hours after the call concludes. Organigram focuses on producing quality cannabis products and expanding its international presence.

Organigram Holdings Inc. (NASDAQ: OGI) reports strong market share growth, maintaining the #3 position among Canadian licensed producers and the #1 position in dried flower. The integration of Laurentian Holdings is on track, with expected expansion of its distribution network across nine provinces. New product launches include premium dried flower strains and SHRED’ems line extensions, indicating a commitment to innovation and consumer demand. Overall, these developments support Organigram's market strategy and potential for continued growth.

Organigram Holdings has launched its social impact strategy, ‘Organigram Operating for Good’, aimed at fostering healthy communities. The company has committed to the Pledge 1% Movement, donating 1% of employee time to local volunteer initiatives across Canada. CEO Beena Goldenberg emphasized the importance of community support, stating that as their corporate footprint expands, so should their ability to contribute positively. This initiative aligns with Organigram's ongoing social giving efforts, highlighting a commitment to corporate social responsibility.

Organigram Holdings Inc. (NASDAQ: OGI) announced a C$6.3 million investment from BAT, increasing its equity ownership from 18.8% to 19.5% as of December 31, 2021. This investment follows a previous strategic stake of C$221 million in March 2021, aimed at enhancing product development collaborations. The additional funds will strengthen Organigram's balance sheet, adding to its existing cash position of C$168 million. The company is focused on innovative cannabis products, with the collaboration celebrating its first anniversary on March 10, 2022.

Organigram Holdings announced the results of its annual shareholder meeting held on February 23, 2022. All eight nominees, including Simon Ashton from BAT, were elected to the board. Ashton brings nearly 30 years of finance and leadership experience, enhancing the board's expertise. Additionally, Organigram expanded its Sustainability Committee to include environmental initiatives, reflecting its commitment to sustainability. This strategic move aims to strengthen corporate governance and sustainability efforts.

Thunderbird Entertainment Group has appointed Jérôme Levy to its Board of Directors as an independent member, effective immediately. Levy brings extensive experience in media and entertainment, having previously served as Vice Chairman of Archie Comics. His background includes overseeing TV and film production, digital expansion, and negotiating significant production deals with major companies like Warner Brothers and Netflix. This strategic addition aims to strengthen Thunderbird's leadership and execution of its long-term growth plan, which includes investing in owned-IP and pursuing strategic M&A opportunities.

Organigram Holdings reported Q1 Fiscal 2022 net revenue of $30.4 million, a record high and 57% increase year-over-year, driven by strong demand in the recreational market. The company also achieved a gross revenue of $44.3 million, a notable 75% rise from the previous year. Despite increased sales, the cost of sales rose 20% to $27.9 million, impacting margins. The company expanded its product lineup, launched Monjour, and resumed international sales, notably to Israel. The acquisition of Laurentian Organic is expected to further enhance growth.

Organigram Holdings Inc. (NASDAQ: OGI) will release its first quarter fiscal 2022 earnings on January 11, 2022, prior to market open. A conference call is scheduled for the same day at 8:00 am ET, where management will discuss the results. Interested parties can register for the call through the provided link. Organigram is a leading licensed cannabis producer in Canada, focusing on high-quality indoor-grown cannabis for both recreational and medicinal users. Its brands include The Edison Cannabis Company, Indi, and SHRED.