OrganiGram (OGI) Q3 2026 earnings summary

Executive summary

• Achieved record quarterly net revenue and adjusted EBITDA, driven by the consolidation/acquisition of Sanity Group and strong Canadian operations.

• Sanity Group contributed approximately EUR 24.5–25 million (CAD 40 million) in revenue since consolidation, supporting international expansion.

• International revenue now represents over one-third of total revenue, marking a significant shift in business profile.

• Maintained #1 market share in Canada across several cannabis product categories.

• Leadership transition announced with the departure of a key executive after nine years.

Financial highlights

• Net revenue reached CAD 105.8 million, up 49% year-over-year from CAD 70.8 million.

• Gross revenue was CAD 145.1 million, up 32% year-over-year.

• Adjusted gross margin was 37%, up 300 basis points year-over-year and 600 basis points sequentially.

• Record-adjusted EBITDA of CAD 13.4 million, a 136% increase from CAD 5.7 million in the prior year period.

• Net income was CAD 105.5 million, compared to a loss of CAD 6.3 million last year, mainly due to fair value gains on financial assets.

Outlook and guidance

• Revenue expected to exceed CAD 350 million for fiscal 2026.

• Adjusted gross margin and adjusted EBITDA projected to meaningfully exceed fiscal 2025 levels.

• Positive free cash flow anticipated in Q4, despite negative free cash flow for the full year due to integration and scaling.