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It’s almost all good in Organigram report

Published on February 21, 2025 by Pat Bulmer

Photo: Contributed/Organigram

Medical cannabis exports are up and sales at home remained strong, Canada’s Organigram claimed in its latest financial statement.

The company reported:

• Net revenue increased 17% to $42.7 million from $36.5 million in the same quarter a year ago.
• International sales increased $2.3 million, compared to the same quarter last year.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased to $1.4 million from $0.1 million.

However, net loss was $23 million compared to a net loss of $15.8 million in the first quarter of 2024. Much of that was connected to an investment in the company by British American Tobacco, the statement said.

“We kick off fiscal 2025 as Canada’s largest recreational cannabis company by market share,” said Beena Goldenberg, chief executive officer.

Flagship brands Shred and Boxhot reached over $385 million in retail sales over last 12 months, the company said.

The company says it recently brought to the market Edison Sonics 5mg THC gummies, Shred’ems Max10 gummies in three flavours. Shred Heavy Slims and Captain Kush Dartz pre-rolls, rolled with 100% organic hemp paper.

Organigram has supply agreements with companies in Germany, U.K., Australia and Israel and made its first significant European investment putting $21 million into Sanity Group GmbH, a German cannabis company.

Organigram operates facilities in Moncton, N.B., and Lac-Supérieur, Que., with a  manufacturing facility in Winnipeg. As a result of the acquisition of Motif Labs in December, the company now operates two additional cannabis processing facilities in Southwestern Ontario.