TSX:OGI - Post Discussion
Post by
1hot-techwoman on Apr 26, 2024 1:03pm
Q2 around May 13 ! Looking for better report then....
When Q1 came out we we trading around $2.68...now its $2.57 going into Q2....Why would they raise $150 Million at $3.23 if they hadnt done there reasearch going forward? Me think Q2 will be good :) IMO
DJ OrganiGram Shares Fall on Loss, Revenue Miss as International Sales Lag in 1Q
Tuesday, February 13, 2024, 10:10 AM ET
By Adriano Marchese
OrganiGram Holdings shares were down Tuesday morning after the company reported a loss and lower than expected revenue in its fiscal first quarter as international sales lag.
In recent trading, shares were 7.3% lower to 2.68 Canadian dollars ($1.99).
The Canadian licensed cannabis producer reported a loss of C$15.8 million, compared with an profit of C$5.3 million a year earlier.
The company said that the decline was largely the result of lower gross margin due to the change in fair value of the company's biological assets.
Net revenue fell 16% to C$36.5 million, while analysts expected a slightly less sharp decline to C$37.8 million.
OrganiGram blames the decrease on a reduction in international revenue and medical sales.
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