MONCTON, N.B. – Cannabis company Organigram Holdings Inc. reported a loss in its latest quarter as its revenue more than doubled compared with a year ago.<\/p>\n
The company says its net loss for the quarter ended Feb. 28 amounted to $4 million compared with a loss of $66.4 million in the same period a year earlier.<\/p>\n
Gross revenue in what was Organigram's second quarter totalled $43.9 million, up from $19.3 million a year earlier. Net revenue was $31.8 million, up from $14.6 million.<\/p>\n
The company says the increase was primarily due to a rise in adult-use recreational sales and international revenue, partly offset by a lower average net selling price due to a change in product mix and a decrease in medical revenue.<\/p>\n
In its outlook, Organigram expects its third-quarter revenue to be up from its second quarter due to ongoing sales momentum, stronger market growth and its expanded product line.<\/p>\n
It also says it expects to benefit from greater capacity to meet demand at its Moncton campus, increased throughput at its Winnipeg facility and its acquisition of Quebec-based company Laurentian Organic Inc.<\/p>\n
This report by The Canadian Press was first published April 12, 2022.<\/p>\n
Companies in this story: (TSX:OGI)<\/p>\n
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MONCTON, N.B. – Cannabis company Organigram Holdings Inc. reported a loss in its latest quarter as its revenue more than doubled compared with a year ago. The company says its net loss for the quarter ended Feb. 28 amounted to $4 million compared with a loss of $66.4 million in the same period a year […]<\/p>\n","protected":false},"author":362,"featured_media":1261,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","source":"The Canadian Press","byline":"The Canadian Press","published":"2022-04-12T04:02:40","updated":"2022-04-12T23:00:00","_infotelid":"IT90095","_prepressid":"90095","_multisite_post_sync":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[379,2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured3","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/138\/cannabis-company-organigram-reports-q2-loss-more-than-doubles-revenue-2\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cannabis company Organigram reports Q2 loss, more than doubles revenue","url":"http:\/\/infonews.ca\/in420\/news\/138\/cannabis-company-organigram-reports-q2-loss-more-than-doubles-revenue-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/138\/cannabis-company-organigram-reports-q2-loss-more-than-doubles-revenue-2\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID90095-6605.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID90095-6605.jpg"},"articleSection":"featured3","author":[{"@type":"Person","name":"Howard Alexander"}],"creator":["Howard Alexander"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2022-04-12T11:02:40Z","datePublished":"2022-04-12T11:02:40Z","dateModified":"2022-04-13T06:00:00Z"},"rendered":"