OrganiGram Comes To An Edge Of Financial Boom

Organigram Holdings Inc. (OGI) today announced its financial results for the first quarter of fiscal 2022 ended November 30, 2021. The first-quarter results were a record-breaking achievement for OrganiGram, which was further strengthened by the addition of Laurentian’s premium products. By 2022, the company’s robust performance is expected to continue. The company is pleased with the progress that was made in improving operational efficiency and achieving a positive adjusted gross margin.

p.26assuranceTylerOlson.webp?AWSAccessKeyId=cloudconvert production&Expires=1641992228&Signature=CXq2KJVC8tQX9SR31cqY090gXv4%3D&response content disposition=inline%3B%20filename%3D%22p.26assuranceTylerOlson
Last year the company made a revenue of about $19.3 million in the first half of 2021. This year it’s expected to rise more than 50% in collecting new revenue by the end of the quarter. The company’s gross margin improved to a positive result in Q1 of 2022, as compared to a negative result in the same period a year earlier. The company’s SG&A expenses grew by 21% to $12.6 million in Q1 of 2022, mainly due to the establishment of the Center of Excellence and the launch of the company’s gummy brands.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.

Anthony Gonzales has 1706 posts and counting. See all posts by Anthony Gonzales