Organigram Reports First Quarter Fiscal 2022 Results
Retrieved on:
Tuesday, January 11, 2022
Agriculture, Natural Resources, Alternative Medicine, General Health, Health, Specialty, Food, Beverage, Retail, Calendar, Breeding, Thomas Edison, Research, EBITDA, International, BAT, Centre for Excellence in Mining Innovation, ...Continued, Enzyme, Biolab, Science, EIC, CBD, Growth, Health Canada, Cannabis, Center, SG, Edible, Leadership, Quality assurance, Automation, Jolt, COE, Cannabinoid, Acquisition, Process Systems Design and Control Laboratory, Fiscal, THC, Director, General Administration of Press and Publication, Company, ASP, Genetics, Advertising, Investment, Food, Stock, PDC, Organizational chart, Strategic Investment Group, Renewable energy, Pharmaceutical industry, Mobile phone, Security (finance), Bank, Drug, Fine chemical, Agriculture, Spice, Cryptocurrency, Laurentian
Q1 Fiscal 2022 adjusted gross margin was $5.5 million, or 18% of net revenue, compared to $1.9 million, or 10%, in Q1 Fiscal 2021.
Key Points:
- Q1 Fiscal 2022 adjusted gross margin was $5.5 million, or 18% of net revenue, compared to $1.9 million, or 10%, in Q1 Fiscal 2021.
- Revenues in Fiscal 2022 to date including a shipment to Canndoc that was in excess of $3.0 million, and purchase orders received from customers, support the Companys expectation of revenue growth from Fiscal 2021 to Fiscal 2022.
- Q2 Fiscal 2022 SG&A is expected to increase slightly from Q1 Fiscal 2022, due to the addition of Laurentian.
- Shipments to Canndoc Ltd., which resumed in Q1 Fiscal 2022, are expected to continue during Fiscal 2022.