Sunday, June 1, 2025

Latest

Organigram Posts Revenues Of $19.3 Million, Loss Of $34.3 Million In Q1 2021

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) this morning reported its first quarter 2021 financial results for the period ended November 30, 2021. The company reported declining revenues on a quarter over quarter basis, recognizing net revenues of $19.3 million for the three month period, while also posting a net loss of $34.3 million.

Revenues were down from the fourth quarter of 2020, which saw revenues of $20.4 million on a net basis. Net revenues were also down 23% from the year ago period, which saw net revenues of $25.2 million. The company also posted a negative gross profit before fair value adjustments, with its $19.3 million in sales costing the company $23.2 million in terms of cost of sales, providing a negative gross margin of $3.8 million.

Total operating expenses of $11.5 million made things worse for the company, with general and administrative expenses accounting for $7.4 million. Sales and marketing made up a further $3.7 million of the firms total operating expenses.

Other expenses meanwhile amounted to $6.1 million, with the largest impact coming from change in fair value of derivative warrant liabilities at $4.6 million, followed by financing costs of $1.6 million. In total, the company reported a net loss of $34.3 million for the three month period.

Looking to the balance sheet, there were some notably improvements however with Organigram seeing its cash position grow to $103.9 million from $24.6 million. Short term investments however declined from $50.1 million to $30.0 million, while accounts receivable declined from $14.7 million to $12.8 million. Inventories also declined, falling from $66.4 million to $49.2 million. Overall, current net assets climbed to $208.4 million, up from $170.2 million.

Current liabilities however climbed significantly as well. Accounts payable staying rather stagnant at $17.1 million, down from $17.5 million. The big item here was long term liabilities, which climbed from $11.6 million to $61.1 million, pushing current liabilities from $29.1 million to $78.3 million.

It should be noted however that subsequent to quarter end, the company used $55.0 million of its cash position to repay $55.0 million of its amended term loan, bringing down current long term liabilities substantially.

Organigram Holdings last traded at $2.28 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.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Organigram: Haywood Raises Estimates Betting On Increased Market Share

On January 11th, Organigram Holdings (TSX: OGI) issued its second fiscal quarter earnings for 2022....

Saturday, January 15, 2022, 11:09:00 AM

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 Reports Revenue Growth in Fiscal 2024, But Net Losses Continue

Organigram Holdings Inc. (TSX: OGI) has reported its financial results for fiscal year 2024, ending...

Wednesday, December 18, 2024, 10:18:00 AM

Organigram Posts Q4 Revenues of $20.4 Million, Loss Of $38.6 Million

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) this morning reported its fourth quarter financials, with net...

Monday, November 30, 2020, 07:33:51 AM

Organigram Posts Q2 Declining Revenues of $23.2 Million

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) released their second quarter financials this morning, and plainly,...

Tuesday, April 14, 2020, 08:17:51 AM