The following is a summary of the Organigram Holdings Inc. (OGI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Organigram reported a 25% year-over-year growth in net revenue, and sequential growth of over 9% for the third quarter.

• Adjusted gross margin improved significantly to 36%, up from 19% the previous year.

• Adjusted EBITDA turned positive to $3.5 million, contrasting with negative $2.9 million in the prior year.

• Net income for the quarter reached $2.8 million, a significant reversal from a net loss of $213.5 million in the same prior year quarter.

Business Progress:

• Organigram's domestic Canadian recreational business grew 25% year-over-year last quarter.

• The company successfully increased its Canadian market share, maintaining over 7% for eight consecutive months and narrowing the gap with the leading LP in the market.

• Organigram advanced in product innovation with the commercialization of their new FAST nanoemulsion technology expected to enhance their product offerings in edibles, backed by their large-scale PK study.

• Notable international expansion includes a $21 million investment into Sanity Group, establishing a foothold in Europe, specifically Germany, and two new supply agreements in Australia and the U.K.

Opportunities:

• Organigram aims to leverage the growing German market through their strategic investment in Sanity Group and an enhanced supply agreement, emphasizing Germany's potential as the world's largest federally legal adult-use cannabis jurisdiction.

• The company expects to capitalize on operational efficiencies and product innovation such as their FAST technology in edibles and upcoming initiatives with seed-based production to bolster margins and optimize production.

Risks:

• The competitive market dynamics in Canada with a high number of licensed producers contribute to market share erosion, presenting ongoing challenges to maintaining and growing market share amid intense competition.

More details: OrganiGram IR

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