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OGI

Organigram Global Inc.

OGI

Organigram Global Inc. • NASDAQ
$1.64 ▲ 1.86% (+0.03)
Market Cap $219.80 M
52w High $2.08
52w Low $0.85
Dividend Yield 0%
P/E 164
Volume 191.74K
Outstanding Shares 134.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $70.792M ▲ $28.251M ▲ $-6.294M ▼ -8.891% ▼ $-0.047 ▼ $2.684M ▲
Q2-2025 $65.6M ▲ $26.001M ▲ $42.456M ▲ 64.72% ▲ $0.33 ▲ $-2.744M ▲
Q1-2025 $42.73M ▼ $25.119M ▲ $-22.957M ▼ -53.726% ▼ $-0.2 ▼ $-3.414M ▼
Q4-2024 $44.698M ▲ $16.933M ▼ $-5.433M ▼ -12.155% ▼ $-0.052 ▼ $7.274M ▲
Q3-2024 $41.06M $19.056M $2.818M 6.863% $0.027 $5.909M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $36.776M ▲ $564.615M ▲ $179.119M ▲ $385.496M ▼
Q2-2025 $14.054M ▼ $537.903M ▲ $147.337M ▼ $390.566M ▲
Q1-2025 $46.797M ▼ $479.207M ▲ $155.56M ▲ $323.647M ▲
Q4-2024 $107.566M ▲ $407.86M ▲ $101.871M ▲ $305.989M ▲
Q3-2024 $80.067M $354.748M $58.892M $295.856M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.294M ▼ $14.626M ▲ $-9.428M ▲ $-560K ▼ $2.531M ▼ $4.999M ▲
Q2-2025 $42.456M ▲ $-16.585M ▼ $-10.299M ▲ $40.66M ▲ $13.816M ▲ $-23.136M ▼
Q1-2025 $-22.957M ▼ $-4.18M ▼ $-61.553M ▼ $-202K ▼ $-63.921M ▼ $-5.815M ▼
Q4-2024 $-5.433M ▼ $8.893M ▲ $-22.415M ▼ $41.011M ▲ $27.489M ▲ $7.002M ▲
Q3-2024 $2.818M $-3.73M $-14.873M $26.055M $7.452M $-4.794M

Five-Year Company Overview

Income Statement

Income Statement Organigram’s income statement shows a business that is growing but still not consistently profitable. Revenue has climbed steadily over the last few years, and profit margins on products have improved from negative to clearly positive, which signals better pricing, mix, and cost control. However, the company is still posting operating losses and net losses, meaning it has not yet turned its scale and efficiency gains into sustained bottom‑line profit. The most recent year looks notably better than the prior one, when losses were particularly heavy, suggesting that cost cuts, mix improvements, or one‑time charges are now largely behind them. Even so, earnings remain in the red, and profitability is still a key uncertainty. Overall, the trend in the income statement is one of gradual operational improvement and narrowing losses, but with clear execution risk around actually reaching and holding consistent profitability in a competitive, regulated market.

Balance Sheet

Balance Sheet The balance sheet is a relative bright spot. Organigram holds a solid cash reserve compared with its recent past and has no financial debt, which gives it flexibility and reduces financial risk in a volatile industry. Shareholders’ equity is positive and sizable, reflecting that the company is still largely funded by owners’ capital rather than lenders. Assets dipped and then recovered, which fits with a story of restructuring and refocusing operations followed by renewed investment in growth and efficiency. A history of large share consolidations suggests prior dilution and capital raises, so while the balance sheet is currently strong, existing shareholders have likely paid for that strength through past equity issuance. In short, the company appears financially stable with a clean balance sheet and decent liquidity, but long‑term returns for shareholders will still depend on converting this stability into sustained profits.

Cash Flow

Cash Flow Cash flow is moving in the right direction but is not yet where a mature business would need to be. Cash generated from day‑to‑day operations has improved from meaningful outflows to roughly break‑even, indicating that the core business is closer to standing on its own feet. At the same time, the company continues to spend on its facilities and technology, so total free cash flow remains negative. That means the business is still consuming cash overall, even if at a slower pace than in prior years. This fits with a company in transition: investing in efficiency and product innovation while trying to tighten up its operations. The key uncertainty from a cash‑flow perspective is whether improving operating performance can outpace ongoing investment needs, turning free cash flow sustainably positive before the current cash cushion materially erodes.

Competitive Edge

Competitive Edge Organigram operates in a crowded, heavily regulated cannabis market where pricing pressure and frequent product launches are common. Within that tough environment, it has built a reasonably strong competitive position, especially in Canada, through a portfolio that spans value and premium brands like SHRED, BOXHOT, Edison, and others. These brands give it reach across different consumer budgets and preferences. Its partnership with British American Tobacco is a major strategic advantage. This relationship provides capital, product‑development know‑how, and credibility, supporting Organigram’s push into novel formats such as beverages and advanced ingestibles. The company is also working to expand internationally, with distribution relationships in Europe, Australia, and other regions, and an early foothold in the U.S. via hemp‑derived products. The main competitive risks are intense price competition, regulatory shifts, and the possibility that rivals copy successful formats or undercut prices. Organigram’s ability to defend shelf space and maintain brand relevance while protecting margins will be central to its long‑term position.

Innovation and R&D

Innovation and R&D Innovation is one of Organigram’s clearest strengths. The company has invested heavily in technology‑driven cultivation, using a multi‑level indoor growing system, automation, and more efficient lighting to squeeze more output and consistency from its footprint. These steps aim to lower production costs and improve quality and reliability, which matter in a commoditizing market. On the product side, Organigram is pushing into differentiated technologies and ingredients. Its fast‑acting nanoemulsion platform for ingestibles is designed to deliver more predictable, quicker‑onset effects, tackling a common complaint with traditional edibles. The partnership with Phylos Bioscience and access to rare cannabinoids like THCV give it tools to launch products that are harder for competitors to replicate. Innovation extends to beverages, vapes, and seed‑based production, supported by a dedicated product development center with BAT. The trade‑off is that such R&D spending and experimentation may not always pay off quickly, and regulatory or consumer acceptance hurdles could slow adoption of newer cannabinoids or formats. Still, the company’s strategy clearly leans into science, differentiation, and process efficiency as core levers.

Summary

Organigram looks like a cannabis operator that has stabilized its foundation and is working to convert operational and innovation strengths into financial sustainability. Financially, revenue is growing and product margins have improved, but consistent profitability and positive free cash flow are not yet in hand. The balance sheet is comparatively strong, with cash on hand and no debt, giving the company time and flexibility to execute its strategy. Strategically, Organigram’s edge comes from a mix of strong brands in Canada, deep partnerships (especially with British American Tobacco), advanced cultivation and product technologies, and growing international exposure. Its innovation engine—spanning fast‑acting ingestibles, novel cannabinoids, and efficient production—could support future differentiation if consumer uptake and regulations cooperate. The big questions going forward are whether Organigram can translate these advantages into durable profits, maintain its competitive footing in a price‑pressured market, and reach a point where its investments begin to generate consistent, self‑funded growth rather than ongoing cash burn.

NEWS

November 25, 2025 · 6:00 AM UTC

Organigram Announces Appointment of Chief Executive Officer

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October 29, 2025 · 6:00 AM UTC

Majority of Canadians Want Carney Government to Catch Up on Cannabis Policy

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October 21, 2025 · 6:00 AM UTC

Organigram Global Announces Update to CEO Succession Plan

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October 9, 2025 · 6:00 AM UTC

Organigram Global Launches happly, a New U.S. Hemp-Derived THC Brand Offering Targeted Formulations for Three Mood States; Socialize, Relax, and Sleep

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September 2, 2025 · 6:00 AM UTC

Organigram Global Releases Landmark Report: Legal Cannabis Added $16B to Canada's GDP in 2024

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