Organigram Global Inc · Q1 2025 earnings

Briefing

Organigram Q2 fiscal net revenue hits record $65.6M (+74%) on Motif acquisition

Organigram Global Inc. reported record second-quarter fiscal 2025 results for the period ended March 31, 2025, with gross revenue of $102.8 million and net revenue of $65.6 million, up 79% and 74% year-over-year respectively. The quarter includes a full three months of Motif Labs following the December 2024 acquisition. International revenue surged 177% to $6.1 million. Adjusted gross margin was 33% ($21.9 million) and adjusted EBITDA rose to $4.9 million from a $(1.0) million loss a year ago. Net income was $42.5 million, primarily from fair value gains on BAT top-up-rights and financial instruments rather than core operations. Organigram raised expected Motif cost synergies to approximately $15 million annually from $10 million and held cash of $83.4 million with negligible debt. The company maintained #1 Canadian market share in vapes, pre-rolls and several other categories.

• Record net revenue of $65.6 million (+74% YoY) and gross revenue of $102.8 million (+79%) driven by Motif and organic growth.
• Adjusted EBITDA of $4.9 million swung positive from $(1.0) million; adjusted gross margin held at 33%.
• Net income of $42.5 million reflected fair value gains on BAT instruments, not underlying cannabis operations alone.
• International sales of $6.1 million (+177%) and Motif synergy target raised to ~$15 million annually.
• Cash position of $83.4 million with negligible debt; #1 Canadian market share maintained across key categories.

Headline financials

Revenue & EPS history

Management expects international sales to increase in the second half of fiscal 2025 and adjusted gross margins to improve as Motif synergies are realized, with seasonally stronger back-half months ahead.