Organigram Reports 25% YoY Increase In Q3 Net Revenue, Significant Improvement In Adjusted EBITDA
Portfolio Pulse from Jelena Martinovic
Organigram Holdings Inc. (NASDAQ:OGI) reported a 25% year-over-year increase in Q3 net revenue to CA$41.1 million and a significant improvement in adjusted EBITDA. The company also highlighted strategic investments in the UK and Germany, and a 2700% YoY increase in gross margin. Shares traded 7.64% higher at $1.55 in pre-market.
August 13, 2024 | 12:51 pm
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Organigram Holdings Inc. reported a 25% YoY increase in Q3 net revenue and significant improvement in adjusted EBITDA. The company also announced strategic investments in the UK and Germany, and a 2700% YoY increase in gross margin. Shares traded 7.64% higher in pre-market.
The significant YoY increase in net revenue and adjusted EBITDA, along with strategic investments in key international markets, are positive indicators for Organigram's growth. The 7.64% pre-market share price increase reflects investor optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100