OrganiGram Holdings ( (OGI) ) has released its Q4 earnings. Here is a breakdown of the information OrganiGram Holdings presented to its investors.
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Organigram Holdings Inc., a licensed producer of cannabis, is a prominent player in the Canadian cannabis industry, known for producing high-quality, indoor-grown cannabis for both medical and recreational use, as well as developing international business partnerships.
In the latest fiscal year, Organigram reported a net revenue of $159.8 million, reflecting a 6% increase from the previous year, alongside a significant 17.6% growth in recreational shipped sales. The company became Canada’s largest cannabis company by market share following its acquisition of Motif Labs, showcasing its expanding influence in the industry.
Key financial highlights include a 55% increase in adjusted EBITDA, reaching $8.4 million, and a notable reduction in net loss to $45.4 million from $247.0 million the previous year. Operational efficiencies led to a decrease in the cost of sales, contributing to a gross margin increase. The acquisition of Motif Labs and strategic investments in international markets, including a $21 million investment in the German company Sanity Group, underscore Organigram’s commitment to growth and international expansion.
Looking ahead, Organigram plans to leverage its strengthened market position and operational efficiencies to pursue further growth in Fiscal 2025. The company is focused on enhancing its product offerings through consumer-centric innovation and expanding its international footprint, which is expected to support continued revenue growth and improve profitability.
