Overview

* Organigram fiscal Q3 net rev rises 72% yr/yr, beating analyst expectations

* Adjusted EBITDA for fiscal Q3 grows 64% yr/yr, driven by higher revenue

* Company expands U.S. presence, generating revenue and increasing exports

Outlook

* Organigram expects adjusted gross margin to improve with Motif synergies

* Company anticipates sustained profitability and free cash flow in near-term

* Company aims to expand product portfolio and international presence

Result Drivers

* MOTIF ACQUISITION - Co attributes revenue growth to contributions from Motif Labs acquisition

* INTERNATIONAL SALES - Significant increase in international revenue, up 208% yr/yr

* U.S. EXPANSION - Began generating U.S. revenue and expanded distribution into new states

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat C$70.79 C$68 mln

Revenue mln (4

Analysts

)

Q3 Gross C$110.20

Revenue mln

Q3 Net -C$6.29

Income mln

Q3 C$5.69

Adjusted mln

EBITDA

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the healthcare facilities & services peer group is "buy"

* Wall Street's median 12-month price target for Organigram Global Inc ( OGI ) is C$2.75, about 19.3% above its August 12 closing price of C$2.22

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)