Kalkine Media ASX Share Market News & Research
Watchlist Sign Up/Login
https://kalkinemedia.com/resources/assets/public/img/flags/au.png AUS
https://kalkinemedia.com/resources/assets/public/img/flags/nz.png NZ
https://kalkinemedia.com/resources/assets/public/img/flags/uk.png UK
https://kalkinemedia.com/resources/assets/public/img/flags/ca.png CA
https://kalkinemedia.com/resources/assets/public/img/flags/us.png USA
https://kalkinemedia.com/resources/assets/public/img/flags/fr.png FRA
https://kalkinemedia.com/resources/assets/public/img/flags/de.png GER
https://kalkinemedia.com/resources/assets/public/img/flags/es.png ESP
https://kalkinemedia.com/resources/assets/public/img/flags/it.png ITA
https://kalkinemedia.com/resources/assets/public/img/flags/nl.png NLD
https://kalkinemedia.com/resources/assets/public/img/flags/pt.png PRT
https://kalkinemedia.com/resources/assets/public/img/flags/se.png SWE
https://kalkinemedia.com/resources/assets/public/img/flags/gr.png GRC
https://kalkinemedia.com/resources/assets/public/img/flags/in.png IND
https://kalkinemedia.com/resources/assets/public/img/flags/pl.png POL
https://kalkinemedia.com/resources/assets/public/img/flags/br.png BRA
https://kalkinemedia.com/resources/assets/public/img/flags/za.png ZAF
https://kalkinemedia.com/resources/assets/public/img/flags/ru.png RUS
https://kalkinemedia.com/resources/assets/public/img/flags/cn.png CHN
https://kalkinemedia.com/resources/assets/public/img/flags/ae.png UAE
Kalkine Media ASX Share Market News & Research

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

January 11, 2022 03:19 PM CET | By Raza Naqvi
What's next for Organigram (OGI) stock as it hits 'record' Q1 revenue?
Image source: © Phongphan5922 | Megapixl.com

Recent News

thumbnail

Cyviz Awarded NOK 16 Million Defense Contract in Europe

thumbnail

Psychotherapist Shares Afterlife Revelation: ‘Heaven … Is Already With...

thumbnail

CEAg World Announces CEAg World Impact Awards Recognizing Those Drivin...

thumbnail

AVer Europe and Charmex Announce a Strategic Distribution Partnership

Highlights:
  • In Q1 2022, Organigram narrowed its net loss to C$ 1.3 million from C$ 34.3 million in Q1 2021.
  • Organigram posted net revenue of C$30.4 million in Q1 2022, a record feat for the company.
  • Organigram expects to achieve positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by Q3 2022.

Organigram Holdings Inc. (TSX:OGI) announced results for the first quarter of 2022 before the market opened on Tuesday, January 11.

Organigram posted net revenue of C$30.4 million in Q1 2022, a record feat for the company. In addition, the cannabis producer claimed to solidify its market share position at number four among Canadian companies.

Also Read: Clearmind (CMND) returned 300% YTD! A psychedelic stock to trip on?

Due to strong growth in revenue in Q1 2022, stock market investors are looking for Organigram stock. Let's take a look at what could be next for investors:

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.

Organigram Stock                                                                                         ©2022 Kalkine Media® 

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

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Sponsored Articles