Organigram Increases Revenue and Adjusted EBITDA in Q4
- Organigram Holdings Inc. announced its financial results for the fourth quarter and twelve months ended September 30, 2024.
- The company had a transformative year in Fiscal 2024, securing significant funding, making strategic investments, and expanding its international footprint.
- Organigram integrated recently-acquired Motif into its ecosystem and is positioned as Canada's #1 LP heading into Fiscal 2025.
- The company's growth plans for the next phase will focus on efficiency, consumer-centric innovation, and international expansion.
TORONTO–(BUSINESS WIRE), 12/18/24–Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer (“LP”) of cannabis, announced its results for the fourth quarter and twelve months ended September 30, 2024 (“Q4 Fiscal 2024” or “Fiscal 2024”). All financial information in this press release is expressed in Canadian dollars (“$”).
Comparable Periods: The Company’s results for Q4 Fiscal 2024 and Fiscal 2024 reflect the three-month and 12-month periods ended September 30, 2024. The Company’s change in year-end effected in fiscal year 2023 (“Fiscal 2023”) resulted in its reporting periods of for the fourth quarter of 2023 and Fiscal 2023 having 4 months and 13 months, respectively. For comparative purposes and to more accurately reflect period-over-period performance, the Company’s financial results and period-over-period comparisons are presented in this news release for the unaudited and unreviewed three-month period ended September 30, 2023 (“Comparative Q4 Fiscal 2023”), and the unaudited and unreviewed 12-month period ended September 30, 2023 (“Comparative Fiscal 2023”), unless otherwise indicated.
FOURTH QUARTER AND FISCAL 2024 HIGHLIGHTS
“Fiscal 2024 was a transformative year where our entire team delivered on multiple fronts,” said Beena Goldenberg, Chief Executive Officer. “We received significant funding from BAT when capital for the cannabis industry was scarce. We made smart, strategic investments, including into seed-based technology and automation, which is increasing efficiency. We have also expanded our international footprint through a $21 million investment in Sanity Group, a leading German cannabis company, as well as through several new supply agreements to provide products to patients in Australia and the UK.”
As we integrate recently-acquired Motif into the Organigram ecosystem, we head into Fiscal 2025 as Canada’s #1 LP and we are very excited for the next phase of our growth plans focused on efficiency, consumer-centric innovation, and international expansion.
Original press release