Organigram Posts Q4 Loss Of $26.0 Million

Organigram Holdings (TSX: OGI) this morning reported its fiscal fourth quarter financial results, posting net revenues of $24.9 million. The company also posted a loss of $26.0 million for the three month period.

Revenues were up considerably on a quarter over quarter basis, climbing 22% from $20.3 million to $24.9 million. Recreational cannabis reportedly accounted for $22.9 million of this net revenue.

The firm was quick to highlight that it achieved 7% market share in the recreational market during the quarter, which has reportedly since grown to 7.9%. The problem, however, is that none of that matters when you post negative gross margins before fair value adjustments. Cost of sales for the quarter came in at $25.9 million, resulting in negative margins of $1.0 million.

Things were no better from here, with the company recording SG&A expenses for the quarter of $13.6 million, further pushing the company into the red. Overall, Organigram posted a net loss of $26.0 million, along with an adjusted EBITDA loss of $4.8 million.

For the full fiscal year, Organigram saw net revenues of $79.2 million, and cost of sales of $103.6 million, resulting in negative gross margin for the fiscal year of $24.4 million. Total operating expenses meanwhile amounted to $63.4 million, including impairments of intangibles and certain property. Overall, Organigram posted a loss of $130.8 million for the full fiscal year.

Organigram Holdings last traded at $2.37 on the TSX.


Information for this briefing was found via Sedar and Organigram Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Copper Juniors Could Explode After This Trade War Move | Christian Easterday – Hot Chili

Silver Is Rarer Than Gold, And the Market’s Waking Up | Shawn Khunkhun – Dolly Varden Silver

Gold Will Hit North of $4,000: Who’s Actually Producing? | Shane Williams – West Red Lake

Recommended

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Related News

Organigram: Haywood Lowers Price Target To $3.00

On November 23rd, Organigram Holdings (TSX: OGI) announced its fourth quarter fiscal 2021 results. The...

Monday, November 29, 2021, 10:15:00 AM

Democrats Take Aim At “Big Cannabis” In Proposed CAOC Legislation

It appears that the federal legalization of cannabis in the United States might not be...

Tuesday, September 7, 2021, 05:33:00 PM

Organigram Conducts Management Change Up

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) has performed what amounts to a management shuffle between...

Wednesday, March 4, 2020, 08:30:57 AM

Organigram Announces $55 Million At-The-Market Offering

It appears at-the-market offerings have become all the rage in a cannabis sector desperately vying...

Wednesday, December 4, 2019, 10:05:30 AM

Organigram Lays Off 400 Employees Due To COVID-19

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) has laid off 45% of its workforce which represents...

Monday, April 6, 2020, 08:10:53 PM