Organigram’s Full-Year Revenues Reach $123 Million
December 26, 2023Canadian cannabis producer Organigram reported net revenue of C$162 million ($123m) for its fiscal 2023 ended in September, an 11% rise over the previous year. Adjusted EBITDA roughly doubled to C$6 million ($4.5). The gain in revenue, according to the company, comes from bolstering both domestic and international sales throughout the year as well as an extended reporting period, though both were somewhat offset by declines in medical sales.
Organigram says it gained the #2 position in Canada over the course of the year, the #1 position in the “milled flower, gummies, and hash” categories, and a jump from tenth place to third place for pre-rolls, according to data sourced from Hifyre, Weedcrawler, Provincial Boards, and Internal Modelling. The company also recently received an increased investment from British American Tobacco. —Shane English
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