Categories Earnings, Other Industries

Organigram (NASDAQ: OGI) Q4 2019 Earnings Snapshot

— Organigram (NASDAQ: OGI) reported a net loss from continuing operations of $22.46 million for the fourth quarter of 2019, vs. profit of $18.9 million last year.

— Loss per share was $0.14, compared to earnings of $0.12 per share in the year-ago period

— Fourth-quarter net revenues surged to $16.3 million from $3.2 million last year

— Gross margin, before fair value changes to biological assets and inventories, dropped to $0.7 million from $1.6 million last year

— Adjusted EBITDA was (-)$7.9 million during the three-month period, compared $0.3 million a year earlier

— In the first quarter of 2020, net revenue is expected to increase sequentially on higher retail sales and wholesale revenue

— First-quarter gross margin, before fair value changes to biological assets and inventories, is anticipated to grow sequentially

— Expects the increased efficiencies and economies of scale to reduce cultivation costs in the first quarter, compared to Q4

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