Organigram Global Inc · Q2 2026 earnings

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

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.