What's next for Organigram (OGI) stock as it hits 'record' Q1 revenue?

2 min read | January 11, 2022 09:19 AM EST | By Raza Naqvi

What's next for Organigram (OGI) stock as it hits 'record' Q1 revenue? — Image source: © Phongphan5922 | Megapixl.com

What's next for Organigram (TSX:OGI) stock investors?

Ahead of the financial results, investors positively responded to the Organigram stock, and it rose about six per cent during the trading session on January 10.

According to reports, the cannabis producer beat analysts’ expectations of C$ 29.2 million.

In the upcoming weeks, investors could give attention to Organigram stock as cannabis stocks often feature in investment portfolios of Canadian investors.

Organigram expects that it will achieve positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) by Q3 2022, and earlier, it had given the guidance for positive EBITDA in Q4 2022.

The company announced in its financial result that it opened 13 new stock-keeping units (SKUs), and it now has 49 SKUs.

Bottom line

Compared to the same quarter of the previous year, Organigram has shown massive improvement in its financial results. The cannabis producer achieved a 75 per cent year-over-year (YoY) growth in its gross revenue by clocking C$ 44.3 million in Q1 2022.

In Q1 2022, Organigram narrowed its net loss to C$ 1.3 million from C$ 34.3 million in Q1 2021.

As of November 30, 2021, Organigram had cash of C$ 99.7 million, up from C$ 55.4 million as of August 31, 2021.

Also Read: 3 Canadian cannabis stocks to buy under $20

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