OrganiGram stock drops after cannabis company reports wider loss, revenue miss [MarketWatch]
Organigram Holdings Inc. - Common Shares (OGI)
Last organigram holdings inc. - common shares earnings: 1/14 04:00 pm
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Source: MarketWatch
The U.S.-listed shares of OrganiGram Holdings Inc. dropped 2.3% in premarket trading, as the Canada-based cannabis company reported a much wider fiscal first-quarter net loss and net revenue that fell more than forecast, while adult-use recreational cannabis revenue jumped. The net loss for the quarter to Nov. 30 increased to C$34.3 million ($26.9 million) from about C$863,000 in the same period a year ago. The FactSet consensus for net losses was C$7.1 million. Gross revenue fell 11% to C$25.3 million ($19.8 million), while net revenue, which includes excise taxes, dropped 23% to C$19.3 million. The FactSet revenue consensus was C$20.3 million. Adult-use recreational net revenue rose 30% to C$16.8 million. Gross margin swung to a negative C$16.7 million from positive C$11.2 million. "We are pleased with our double-digit sales growth in the Canadian adult-use recreational market this past quarter as it reflects the success of many of our new product launches, particularly in the dried
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News
- Are Medical Stocks Lagging OrganiGram (OGI) This Year? [Yahoo! Finance]Yahoo! Finance
- Organigram Is My Favorite Cannabis Stock Again [Seeking Alpha]Seeking Alpha
- Organigram Holdings Inc. (NASDAQ: OGI) was upgraded by analysts at Alliance Global Partners from a "neutral" rating to a "buy" rating.MarketBeat
- Organigram Recognized for Executive Gender Diversity by the Globe & Mail's Women Lead Here Report for the Fourth Consecutive Year [Yahoo! Finance]Yahoo! Finance
- Organigram Recognized for Executive Gender Diversity by the Globe & Mail’s Women Lead Here Report for the Fourth Consecutive YearBusiness Wire
OGI
Sec Filings
- 4/25/24 - Form 6-K
- 4/8/24 - Form 6-K
- 4/3/24 - Form 6-K
- OGI's page on the SEC website