Organic Growth And Innovation Drive YoY Increase In Cannabis Producer Organigram's Q4 Revenue And Adjusted EBITDA
Portfolio Pulse from Jelena Martinovic
Organigram Holdings Inc. (NASDAQ:OGI) reported an 11% year-over-year increase in Q4 net revenue to CA$161.6 million and a 71% increase in adjusted EBITDA. Despite these gains, the company experienced a significant net loss increase to CA$248.6 million due to impairments. CEO Beena Goldenberg is optimistic about future growth, citing innovation and a financial commitment from BAT for international expansion. Organigram's stock traded higher by 1.42% in pre-market on the news.
December 19, 2023 | 4:41 pm
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POSITIVE IMPACT
Organigram Holdings Inc. reported increased Q4 revenue and adjusted EBITDA, but a significant net loss due to impairments. The stock saw a positive pre-market movement of 1.42% following the announcement.
The positive revenue and EBITDA growth are likely to be viewed favorably by investors, despite the increased net loss. The pre-market stock movement suggests a short-term positive impact, but the net loss could temper gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100