Organigram Shares Trading Lower On Q3 Revenue Decline Of 14% YoY Impacted By THC Inflation
Portfolio Pulse from Vuk Zdinjak
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI) reported a 14% YoY decline in Q3 revenue to CA$32.8 million ($25 million), impacted by THC inflation. The company also reported a gross loss of CA$4.7 million and a net loss of CA$213.5 million. However, Organigram expects Q4 fiscal 2023 net revenue to be higher than Q3 and to achieve positive adjusted EBITDA. The company's shares were trading 12.91% lower in Friday's pre-market session.
July 14, 2023 | 12:06 pm
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Organigram reported a 14% YoY decline in Q3 revenue and expects higher Q4 revenue. The company's shares were trading lower.
The company's Q3 revenue decline and losses have negatively impacted the stock price. However, the company's expectation of higher Q4 revenue and positive adjusted EBITDA may help recover the stock price.
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