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Organigram Q4 Revenue Grows 83% YoY, Provides Outlook

Benzinga Real-time News · Nov 29, 2022 07:56

OGI -3.63%

Organigram Holdings Inc.(NASDAQ:OGI) (TSX:OGI) released its results for the fourth quarter and year ended August 31, 2022, revealingnet revenuein FY 2022increased 84% to $145.8 millionfrom $79.2 million in the previous year primarily due to an increase in recreational and international revenue, partially offset by a decrease in medical sales.

Q4 and Fiscal 2022 Financial Highlights

Net revenue increased 83% to $45.5 million in Q4 2022, from $24.9 million in Q4 fiscal 2021.
Gross margin before fair value changes to biological assets, inventories sold, and other charges:

- Q4 fiscal 2022 margin improved to $8.8 million from negative $1.0 million in Q4 fiscal 2021.
- In fiscal 2022, margin improved to $26.8 million from negative $24.4 million in fiscal 2021.
Adjusted...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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