MONCTON, N.B. – Cannabis company Organigram Holdings Inc. reported a smaller loss in its latest quarter compared with a year ago as its net revenue rose 22 per cent.<\/p>\n
The company says it lost $26 million for the quarter ended Aug. 31 compared with a loss of $38.6 million in the same quarter last year.<\/p>\n
The company says the smaller loss was due to higher gross margins, partially offset by impairment charges.<\/p>\n
Net revenue for what was the company's fourth quarter totalled $24.9 million, up from $20.4 million a year ago.<\/p>\n
Organigram says it grew its share of the recreational cannabis market to seven per cent compared with 5.4 per cent in its third quarter.<\/p>\n
Shares in the company were up 16 cents or nearly seven per cent at $2.53 in trading on the Toronto Stock Exchange.<\/p>\n
This report by The Canadian Press was first published Nov. 23, 2021.<\/p>\n
Companies in this story: (TSX:OGI)<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
MONCTON, N.B. – Cannabis company Organigram Holdings Inc. reported a smaller loss in its latest quarter compared with a year ago as its net revenue rose 22 per cent. The company says it lost $26 million for the quarter ended Aug. 31 compared with a loss of $38.6 million in the same quarter last year. […]<\/p>\n","protected":false},"author":362,"featured_media":1394,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","source":"The Canadian Press","byline":"","published":"2021-11-23T07:38:21","updated":"2021-11-23T21:00:00","_infotelid":"IT87306","_prepressid":"87306","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"post_modified":"2021-11-23T21:00:00","post_modified_gmt":"2021-11-24T05:00:00","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID87306-8413.jpg","_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/362"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=211"}],"version-history":[{"count":3,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/211\/revisions"}],"predecessor-version":[{"id":3685,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/211\/revisions\/3685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1394"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=211"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}