OrganiGram 2Q Loss Widens

Dow Jones05-14

By Adriano Marchese

OrganiGram Holdings on Tuesday reported a wider loss in its second fiscal quarter on the back of fair-value changes on its balance sheet in the quarter.

For the three months ended March 31, the Canadian licensed cannabis producer posted a widened loss of $27.1 million, compared with $7.5 million in the comparable quarter a year ago.

The wider loss was largely due to lower unrealized gain on changes in the fair value of biological assets and of derivative liabilities of $12.5 million

OrganiGram also posted an adjusted loss before earnings, taxes, depreciation and amortization of $1 million, compared with a profit of $5.6 million.

Revenue fell by 5% to $37.6 million, in-line with analyst expectations for the period, according to FactSet.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 14, 2024 06:53 ET (10:53 GMT)

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OrganiGram also posted an adjusted loss before earnings, taxes, depreciation and amortization of $1 million, compared with a profit of $5.6 million.Revenue fell by 5% to $37.6 million, in-line with analyst expectations for the period, according to FactSet.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"OGI":"ORGANIGRAM HOLD","BK4557":"大麻股","BK4007":"制药"},"translate_title":"OrganiGram 2Q损失扩大","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OGI":0.9},"content_text":"By Adriano Marchese \n\n\n \n\n\n  OrganiGram Holdings on Tuesday reported a wider loss in its second fiscal quarter on the back of fair-value changes on its balance sheet in the quarter. \n\n\n  For the three months ended March 31, the Canadian licensed cannabis producer posted a widened loss of $27.1 million, compared with $7.5 million in the comparable quarter a year ago. \n\n\n  The wider loss was largely due to lower unrealized gain on changes in the fair value of biological assets and of derivative liabilities of $12.5 million \n\n\n  OrganiGram also posted an adjusted loss before earnings, taxes, depreciation and amortization of $1 million, compared with a profit of $5.6 million. \n\n\n  Revenue fell by 5% to $37.6 million, in-line with analyst expectations for the period, according to FactSet. \n\n\n \n\n\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 14, 2024 06:53 ET (10:53 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435599833"}