Canadian cannabis firm Organigram's Q1 net revenue jumps 49%
Overview
Canada cannabis firm's fiscal Q1 net revenue rose 49% yr/yr but missed analyst expectations
Adjusted EBITDA for fiscal Q1 increased significantly, driven by higher recreational and international revenue
Company achieved genetic screening breakthrough for powdery mildew resistance, improving yield stability
Outlook
Organigram expects continued growth in international sales throughout Fiscal 2026
Company is preparing for EU-GMP certification for its Moncton facility
Result Drivers
MOTIF ACQUISITION - Net revenue growth driven by contributions from Motif Labs acquisition and increased international sales
GROSS MARGIN IMPROVEMENT - Adjusted gross margin rose due to operational efficiencies, higher flower yields, and Motif integration synergies
GENETIC BREAKTHROUGH - Achieved genetic screening breakthrough for powdery mildew resistance, enhancing yield stability and reducing costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Miss | C$63.54 mln | C$73.15 mln (5 Analysts) |
Q1 Gross Revenue |
| C$97.30 mln |
|
Q1 Net Income |
| C$19.97 mln |
|
Q1 Adjusted EBITDA |
| C$5.27 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the healthcare facilities & services peer group is "buy"
Wall Street's median 12-month price target for Organigram Global Inc is C$3.25, about 49.8% above its February 9 closing price of C$2.17
Press Release: ID:nBw9TxzBHa
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