06:17 AM EDT, 08/13/2025 (MT Newswires) -- Organigram Global Inc. ( OGI ) , which describes itself as Canada's #1 cannabis company by market share, on Wednesday swung to a net loss for Q3 although it beat revenue expectations and talked up "significant progress" toward the full integration of recent acquisitions.

Net loss was $6.3 million compared to net income of $2.8 million in Q3 Fiscal 2024. It said the decrease in net income from the prior period is primarily attributable to higher fair value changes recognized in relation to the preferred shares and top-up-rights held by British American Tobacco, and other financial instruments.

Net revenue increased 72% to $70.8 million, from $41.1 million in the third quarter ended June 30, 2024, primarily driven by contributions from the Motif Labsacquisition and increased international sales. It beat a FactSet forecast of $68 million.

Adjusted EBITDA was $5.7 million compared to $3.5 million in adjusted EBITDA in Q3 Fiscal 2024. It said the increase was primarily attributable to higher recreational revenue, including Motif contributions, and higher international revenue.

"In Q3 we delivered solid revenue and adjusted EBITDA growth sequentially and year-over-year while making significant progress toward the full integration of our recent acquisitions," said Greg Guyatt, CFO of Organigram. "As our business continues to scale domestically and abroad, and the realization of cost synergies related to our Motif acquisition begin to positively impact future earnings, we are confident in our trajectory toward sustained profitability and free cash flow in the near-term."

OGI was down 1.3% on the TSX yesterday.