News

Organigram grows more pot than ever

Published on August 22, 2025 by Pat Bulmer

Photo: Contributed

A record harvest at its Moncton greenhouse and U.S. beverage sales helped propel Organigram Global to a record financial quarter.

The company grew 24,000 kilograms of pot at its flagship facility in New Brunswick where it “averaged over 29% THC potency,” the company said in a financial report.

Organigram bought Collective Project, a producer of hemp-based drinks in the United States, and started generating income there. It also expanded beverage distribution to Alberta, Saskatchewan and Manitoba.

The purchase last year of cannabis producer Motif Labs also boosted revenues.

International sales climbed to $7.4 million, compared to $2.4 million in the same quarter a year ago, the company said.

Organigram said it expects to continue growing its international sales over time. It is awaiting Good Manufacturing Practices certification for its Moncton facility, which will allow cannabis produced there to be exported to Europe.

“We have grown our export business, expanded into the U.S., and are set to launch new brands internationally, all building towards our ambition of becoming a truly global cannabis player,” said retiring CEO Beena Goldenberg.

Organigram said it is No. 1 in market share in Canada in vapes, pre-rolls, milled flower and concentrates; and No. 3 in edibles and dried flower.

In the last quarter, Organigram introduced a number of new products including the Shred Max10 Party Pack of Gummies, Big Bag O’ Buds, Boxhot prerolls, Trailblazer blunts and Rizzlers vapes.

In the latest quarter, net revenue increased to $70.8 million, from $41.1 million in the third quarter last year.

Other numbers:

— Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was $5.7 million compared to $3.5 million in the same quarter a year ago.

— Net loss was $6.3 million compared to a net income of $2.8 million in the same 2024 quarter. The decrease was largely due to financial and share ownership arrangements with investor British American Tobacco, Organigram said.

— Net cash from operating activities was $14.6 million, compared to cash used of $3.7 in the third quarter last year.

— As of June 30, the company had total cash of $85.9 million.

“As our business continues to scale domestically and abroad, and the realization of cost synergies related to our Motif acquisition begin to positively impact future earnings, we are confident in our trajectory toward sustained profitability and free cash flow in the near-term,” said CFO Greg Guyatt.