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Earnings

Organigram Reports First Quarter Fiscal 2026 Results

By The Northwire Desk — AI Analysis Feb 10, 2026 · 06:00 OGI · 2.17 ORGANIGRAM GLOBAL INC.
OGI · Price

Executive Summary

  • Organigram Global reported strong Q1 FY 2026 results, with gross revenue up 46% YoY to $97.3 M and net income turning positive at $20.0 M versus a loss of $27.5 M a year earlier.
  • Adjusted EBITDA surged 273% YoY to $5.3 M, driven by higher recreational sales, integration synergies from the Motif Labs acquisition, and improved international revenue.
  • International sales grew 51% YoY to $5.0 M; U.S. footprint expanded into Illinois and Wisconsin via new distribution partners, now covering 11 states.

Key Details

  • Revenue & Profitability
  • Gross Revenue: $97.3 M (+46% YoY)
  • Net Revenue: $63.5 M (+49% YoY)
  • Adjusted EBITDA: $5.3 M (↑273% YoY)
  • Net Income: $20.0 M (vs. a loss of $27.5 M in Q1 2025)
  • Margin Improvements
  • Adjusted Gross Margin: $23.9 M (38% of net revenue, up from 33%)
  • SG&A expenses rose to $23.9 M but fell as a % of revenue to 38% (down from 40%).
  • Operational Highlights
  • Yield increased 43% to 28,645 kg harvested versus prior year.
  • New proprietary genetic screening cuts powdery‑mildew resistance identification time from months to days.
  • Geographic Expansion
  • International revenue: $5.0 M (+51% YoY).
  • U.S. expansion into Illinois and Wisconsin; total retail presence now in 11 states.
  • Balance Sheet & Liquidity
  • Cash & short‑term investments (incl. restricted cash): $63.0 M as of Dec 31 2025.
  • Working capital: $162.5 M, up 2% YoY.
  • Cash Flow
  • Operating cash flow before working‑capital changes: +$0.3 M (vs. –$6.3 M prior year).
  • Net cash used in operating activities after working‑capital changes: –$16.0 M (up from –$4.2 M YoY).
  • Conference Call
  • Date: February 10, 2026 at 8:00 am ET; registration link provided.

Notable Quotes

  • “As I step into the role of CEO…we have a competitive core business, supported by a foundation of innovation and plant science…” – James Yamanaka, CEO
  • “Year over year, we delivered strong revenue growth and improved profitability…adjusted gross margin remained elevated due to greater operational efficiency…” – Greg Guyatt, CFO
Read the original news release →

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