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Stock impact report

Canadian cannabis company OrganiGram loss widens in latest quarter as revenue falls short of estimates [MarketWatch]

Organigram Holdings Inc. - Common Shares (OGI) 
Last organigram holdings inc. - common shares earnings: 1/14 04:00 pm Check Earnings Report
Company Research Source: MarketWatch
Canadian cannabis company OrganiGram Holdings Inc. said Tuesday it had a net loss of C$6.8 million ($4.9 million), or 41 cents a share, in its fiscal second quarter to Feb. 29, wider than the loss of C$6.4 million, or 49 cents a share, posted in the year-earlier period. Revenue fell to C$23.2 million from C$26.9 million. The FactSet consensus was for a loss of 2 cents and sales of C$24.9 million. Revenue fell due to lower recreational flower and oil sales volumes compared with the year-earlier period, when the timing of large pipeline fill orders to Alberta and Ontario occurred, and lower prices due to increased competition. The company also took a provision for returns and price adjustments relating to cannabis oil. That was partly offset by the first products launched as part of Cannabis 2.0, the second wave of legalization in Canada involving edibles and other derivatives. Cost of sales rose to C$15.8 millin from C$10.9 million as it launched vapes and chocolates and took inventory Show less Read more
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