NASDAQ$OGI
Organigram Global Inc · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
Organigram Q2 FY2026: $59.8M net revenue, $0.9M adj. EBITDA amid vape and pre-roll softness
Organigram Global reported Q2 fiscal 2026 results for the quarter ended March 31, 2026, with gross revenue of $93.3 million (-9% YoY) and net revenue of $59.8 million (-9%), primarily due to weaker vape and infused pre-roll sales amid slower industry growth. Adjusted gross margin was $18.4 million, or 31% of net revenue, down from 33% a year ago on unfavorable mix and higher returns. The company posted a net loss of $0.9 million versus net income of $42.5 million in Q2 FY2025, reflecting lower fair-value gains on derivatives and preferred shares plus a $5.8 million impairment on its U.S. hemp-derived products business. Adjusted EBITDA fell 82% to $0.9 million from $4.9 million. Management cited quick operational fixes, record Moncton harvest yield above 32,000 kg (+56% YoY), and the April acquisition of Germany's Sanity Group as catalysts for a stronger second half. Updated FY2026 guidance now targets net revenue above $350 million with adjusted EBITDA and gross margin exceeding prior-year levels.
- Net revenue fell 9% to $59.8M; gross revenue $93.3M; adjusted EBITDA dropped to $0.9M from $4.9M.
- Net loss was $0.9M vs net income of $42.5M prior year, weighed down by $5.8M U.S. hemp impairment.
- Adjusted gross margin was 31% vs 33%; SG&A rose to $23.6M (39% of net revenue) on marketing spend.
- International sales were $6.1M; record quarterly harvest exceeded 32,000 kg with highest Moncton THC potency.
- Post-quarter Sanity Group acquisition and updated FY2026 guidance target net revenue above $350M.
Headline financials
Revenue & EPS history
Organigram · Revenue · Quarterly
$59.8M
Revenue by segment
Organigram · $6.1M total across 1 segment · Q2 2026
- International$6.1M—100.0%
Forward guidance
Following the Sanity Group acquisition, Organigram now projects FY2026 net revenue above $350M, adjusted gross margin and adjusted EBITDA exceeding FY2025, free cash flow approximately break even, and capex under $10M.
Tailwinds
- Sanity Group expected to add roughly €25M average quarterly revenue over the next calendar year
- Operational fixes in vapes/pre-rolls and record cultivation yields support H2 recovery
Headwinds
- Q2 margin pressure from product mix, returns, and wholesale customer insolvency
- Majority of cash deployed for Sanity acquisition with $60M ATB debt financing
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2026
-0.5%
Avg return
Earnings day
+4.5%
Avg return
5 days after
+0.3%
Avg return
30 days after
29%
7 / 24 earnings
Positive
+40.8%
Q1 2020
Best reaction
-16.8%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -3.7% | -19.1% | -17.6% | |
| Q4 2025 | +8.5% | +11.7% | -11.7% | |
| Q2 2025 | +8.7% | +15.3% | +24.6% | |
| Q1 2025 | -16.8% | +15.3% | +24.6% | |
| Q4 2024 | -9.3% | -1.9% | -3.7% | |
| Q2 2024 | +4.9% | +43.7% | +27.8% | |
| Q1 2024 | -13.1% | +9.8% | -15.2% | |
| Q4 2023 | -6.9% | -3.8% | +28.2% | |
| Q3 2023 | -15.2% | -22.3% | -27.7% | |
| Q2 2023 | -13.0% | -19.4% | -28.2% | |
| Q1 2023 | +19.3% | +17.7% | +1.4% | |
| Q4 2022 | +0.0% | +19.0% | -29.0% | |
| Q3 2022 | -6.0% | +0.0% | +9.3% | |
| Q2 2022 | +21.5% | +16.8% | -22.8% | |
| Q1 2022 | -1.2% | -5.2% | -4.0% | |
| Q3 2021 | -0.4% | -4.9% | +1.1% | |
| Q2 2021 | -6.1% | -9.0% | -12.3% | |
| Q1 2021 | -6.8% | +1.7% | +107.3% | |
| Q4 2020 | -3.8% | +9.0% | +3.0% | |
| Q3 2020 | -9.9% | -11.8% | -12.5% | |
| Q2 2020 | -13.3% | -12.2% | -30.4% | |
| Q1 2020 | +40.8% | +46.2% | +7.6% | |
| Q4 2019 | -3.8% | +1.9% | -4.9% | |
| Q3 2019 | +13.4% | +8.6% | -7.9% | |
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