Organigram reports Q3 revenue C$41.1M vs. C$32.8M last year

Reports Q3 adjusted EBITDA C$3.5M vs. (C$2.9M) last year. “We are pleased to report a strong third quarter, highlighted by a 25% year-over-year increase in net revenue, and a significant improvement in adjusted EBITDA”, said CEO Beena Goldenberg. “Our strategic investments and partnerships, both domestically and internationally, have positioned us for growth and diversification, particularly in the European market with our investment in Sanity Group. Furthermore, the preliminary results from our landmark PK study on our latest patent pending nanoemulsion technology demonstrate our ongoing commitment to innovation and expanding our product offerings. I continue to be very proud of our dedicated team for their hard work and contributions to these achievements.” CFO Greg Guyatt commented, “We are pleased with the results of our focus on operating efficiencies and resulting margin improvements and positive adjusted EBITDA in the quarter. With $173M in pro-forma cash, we believe we have one of the strongest balance sheets in the industry and are well positioned to capitalize on future growth opportunities.”