07:13 AM EST, 12/18/2024 (MT Newswires) -- Organigram Holdings ( OGI ) on Wednesday said its fourth-quarter net loss narrowed as revenue jumped.

The cannabis producer booked a net loss of $5.4 million or $0.03 per share, an 80% improvement on last year's loss of $26.6 million or $0.41 per share. Organigram ( OGI ) credited the improvement to higher adjusted gross margins and lower impairment losses in the current quarter.

Net revenue increased 22% to $44.7 million, primarily due to higher recreational and international cannabis sales.