OrganiGram Holdings Inc (OGI)

[Hunchbackgeek]

Organigram Reports Third Quarter Fiscal 2019 Results highlights......

Q3 and year to date 2019 net revenue of $24.8 million and $64.1 million, respectively, and Q3 net loss and net income from continuing operations of $10.2 million and $12.9 million, respectively

Q3 and year to date gross margin, which includes the impact of fair value adjustments was ($0.2 million) and $59.5 million, respectively. Excluding the impact of non-cash fair value adjustments, the Q3 and year to date adjusted gross margin was $12.3 million or 50%, and $37.1 million or 58%2, respectively.

Q3 adjusted EBITDA of $7.7 million, or 31%2, which was positive for the fourth consecutive quarter and year to date adjusted EBITDA of $27.8 million, or 43%2

Significant growth expected for fiscal 2020 as edibles and derivative products legalized, the number of cannabis retail stores expand, Organigram’s harvested amounts expected to increase materially, and further economies of scale expected to be realized

All Phase 4A growing rooms received Health Canada licensing approval bringing current licensed target production capacity to 61,000 kg/yr

Phase 4B to add 28,000 kg/yr of target production capacity: 17 of the 33 Phase 4B grow rooms submitted for licensing in June 2019 with the remaining 16 grow rooms expected to be submitted in September 2019

Phase 4C (29 grow rooms) is expected to be completed by end of calendar 2019 to increase target production capacity by 24,000 kg/yr to 113,000 kg/yr3

Announced partnerships for vaporizer pens with PAX Labs Inc. and the Feather Company Ltd., as well as to produce cannabis-infused chocolates and powdered beverage products

https://ih.advfn.com/stock-market/TSXV/OGI/stock-news/80326465/organigram-reports-third-quarter-fiscal-2019-resul

OGI


.