Categories Cannabis, Earnings

Organigram (NASDAQ: OGI) Q1 2020 Earnings Snapshot

— Organigram Holdings Inc. (NASDAQ: OGI) reported a net loss from continuing operations of $9 million for the first quarter of 2020, vs. a profit of $29.5 million last year.

— Loss per share was $0.006, compared to earnings per share of $0.195 per share in the year-ago period

— First-quarter net revenues more than doubled to $25.15 million from $12.44 million last year

— Gross margin, before fair value changes to biological assets and inventories, rose to $9.3 million from $8.8 million a year earlier

— Adjusted EBITDA was $4.9 million during the three-month period, compared to $6.8 million in the first quarter of 2019

— Expects to start shipping Edison + Feather ready-to-go distillate pens before the end of January 2020

— Plans to launch cannabis-infused dissolvable powder product in the second quarter of calendar 2020

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