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Organigram Q1 2022 Financial Results


awesame
(@awesame)
Eminent Member
Joined: 10 months ago
Posts: 31
Topic starter  

Organigram Holdings Inc. reported quarterly net revenue of $30.4 million and a net loss of $1.3 million.

HIGHLIGHTS

  • 23% growth in gross revenue to $44.3 million from Q4 Fiscal 2021 and 75% from the same prior-year period
  • Achieved highest quarterly net revenue in the history of the Company at 22% growth to $30.4 million, from $24.9 million in Q4 Fiscal 2021 and 57% growth from $19.3 million in Q1 2021
  • Maintained market share position as #4 Canadian LP with 7.5% market share, up from 4.4% share in Q1 Fiscal 20211
  • SHRED popularity continues with Tropic Thunder and Funk Master achieving #1 and #2 positions respectively in November as the best-selling flower products in Canada1
  • SHRED maintains most-searched brand status on OCS.ca (13 out of last 14 months)
  • Recently launched Edison JOLTS, an ingestible extract lozenge, maintains its top selling position within its category1
  • Launched 13 new stock-keeping units (SKUs) for a total of 49 SKUs available in the market, covering key categories
  • Introduced Monjour, a new wellness brand offering high quality, high potency, CBD-forward products. Monjour’s first offerings are fruit-flavoured soft chews available in both vegan-friendly and sugar-free formats
  • Resumed shipping to Israel through Canndoc Ltd., shipping over 1,400 kilograms of dry flower in the quarter
  • Subsequent to quarter-end, acquired Laurentian Organic Inc., a private Quebec-based producer of hash and craft cannabis, an immediately accretive transaction providing the Company with a broadened, premium-focused product portfolio and footprint in the important Quebec market
  • Also subsequent to quarter-end, the Company increased its investment in Hyasynth Biologicals Inc., a pioneer in cannabinoid science, in which the Company has the option to purchase Hyasynth’s proprietary biosynthesis-generated cannabinoids at a discount to the wholesale market price for a period of ten years from the date of Hyasynth’s commencement of commercial production

https://www.businesswire.com/news/home/20220111005512/en/Organigram-Reports-First-Quarter-Fiscal-2022-Results/


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D. H. Taylor
(@dhtaylor)
Member Admin
Joined: 2 years ago
Posts: 689
 

@awesame Thanks for posting this.

About time OGI print a decent revenue increase.  This should continue to and we should see some positive growth.  Nice that they trimmed their net loss down as much as they did; the cash burn was painful to watch.  The stock barely budged, though.  I think a lot of investors are burned out on this - and other cannabis stocks.  But, these companies are going to get there.  Just project into the future, some 2.5 - 5 - 10 years from now where these stocks will be. Huge.  Organigram is one of them.


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awesame
(@awesame)
Eminent Member
Joined: 10 months ago
Posts: 31
Topic starter  

@dhtaylor I'm actually getting more bullish on OGI as they make more investments into Hyasynth. I think that biosynthesis of cannabinoids is going to be a major part of the industry going forward as consumers will want to take highly specific supplements of the 140+ cannabinoids (and associated terpenes) the way they take multi-vitamins. Those cannabinoids are very difficult to isolate from the plant, but they can be produced in large quantities from yeast biosynthesis. OGI making investments in Hyasynth sets them up to produce things like CBN/CBG capsules for sleep, or CBD/D8-THC for workout recovery. The world of cannabinoids goes way beyond THC and CBD, but few people are thinking ahead on it yet. I think we are going to see the 140+ cannabinoids flourish in consumer markets over the next decades.


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