Education
About Us
Working with TipRanks
Follow Us
OrganiGram Holdings (TSE:OGI)
TSX:OGI
Top Page
OrganiGram Holdings
(TSX:OGI)
Select Model
Select Model
Rating:66Neutral
Price Target:
C$2.00
▼(-18.03% Downside)
OrganiGram Holdings' overall score is driven by strong earnings performance and positive technical indicators. However, high valuation and cash flow challenges weigh on the score. The company's strategic growth initiatives and market leadership position are significant positives.
Positive Factors
Negative Factors
OrganiGram Holdings (OGI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
$327.75M
Dividend YieldN/A
Average Volume (3M)172.49K
Price to Earnings (P/E)81.3
Beta (1Y)2.32
Revenue Growth38.86%
EPS GrowthN/A
CountryCA
Employees1,093
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.05
Shares Outstanding134,325,580
10 Day Avg. Volume125,294
30 Day Avg. Volume172,487
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.52
Enterprise Value/Revenue0.76
Enterprise Value/Gross Profit2.24
Enterprise Value/Ebitda44.64
Forecast
1Y Price Target
$2.50Price Target Upside2.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
OrganiGram Holdings Business Overview & Revenue Model
Company DescriptionOrganigram Holdings Inc., through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co., Trail Blazer, SHRED, SHRED'ems, Big Bag O' Buds, and Monjour brands; and cannabis edibles products and concentrates. The company also engages in the wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis derivative based products to retailers and wholesalers for adult-use recreational cannabis. It sells its products through online, as well as telephone channels. Organigram Holdings Inc. was founded in 2013 and is headquartered in Moncton, Canada.
How the Company Makes MoneyOrganiGram generates revenue primarily through the sale of cannabis products to both medical and recreational consumers. Its revenue model includes direct sales to retailers, wholesale distribution to licensed cannabis shops, and online sales through its own e-commerce platform. Key revenue streams include dried flower sales, cannabis oils, and pre-rolled joints. The company also benefits from strategic partnerships with other cannabis producers and distributors, enhancing its market reach and product offerings. Additionally, OrganiGram has been involved in international markets, exploring opportunities for exporting products, which can further contribute to its revenue growth.
OrganiGram Holdings Earnings Call Summary
Earnings Call Date:Aug 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Dec 02, 2025
Earnings Call Sentiment Positive
Organigram reported a strong quarter with record-breaking revenue and significant market share in Canada, supported by international expansion and operational improvements. However, challenges with ERP integration and delays in EU GMP certification presented some setbacks. Despite these challenges, the company's positive cash flow and strategic initiatives suggest a strong long-term trajectory.Q3-2025 Updates
Positive Updates
Record-Breaking Revenue and Growth
Organigram reported record-breaking gross and net revenue for Q3 Fiscal 2025, with gross sales increasing 73% year-over-year and 7.2% sequentially to reach $110.2 million. Net revenue was $70.8 million, a 72% year-over-year increase and a 7.9% sequential increase.
Strong Market Position in Canada
Organigram maintained its position as the #1 licensed producer nationally in Canada with an 11.6% market share. The company held 20.4% of the national vape segment and 8.3% of the pre-roll segment.
International Expansion
International revenue increased by 208% year-over-year and 21% sequentially to $7.4 million, driven by exports to Germany, Australia, and the U.K.
Operational Improvements and Capacity Expansion
Harvested over 24,000 kilograms at the Moncton facility, a 15% increase over Q2. LED light upgrades and nutrient optimizations increased annual capacity by over 14,000 kilograms.
Positive Cash Flow
Generated free cash flow of $5 million in Q3 and expect to generate positive free cash flow in Q4 and throughout fiscal 2026.
Negative Updates
Challenges with ERP Integration
The integration of Motif into Organigram's ERP system caused temporary disruptions to on-time delivery, resulting in a 30 basis point decline in overall market share in Q3 versus Q2.
Delays in EU GMP Certification
The timing for receiving EU GMP certification remains uncertain, potentially delaying the removal of middlemen and higher-margin sales.
Increased Operating Expenses
Total operating expenses for the quarter increased by 8.5% to $28.2 million from $26 million in the prior quarter, representing approximately 40% of net revenue.
Company Guidance
During the Organigram Global Third Quarter Fiscal 2025 Earnings Conference Call, the company reported a record-breaking quarter in both gross and net revenue, driven by growth in the Canadian recreational cannabis market and international expansion. In Q3, the Canadian market grew by 6.6% year-over-year, reaching $1.4 billion in retail sales, with Organigram maintaining its position as the #1 licensed producer nationally with an 11.6% market share. The company continued to lead in the vape and pre-roll segments, holding 20.4% and 8.3% of the national market, respectively. Notably, the SHRED brand achieved a 69% repurchase rate across its participating categories. Organigram also saw significant gains in edibles, achieving an 18.2% market share by the end of July. Operational highlights included a 15% increase in harvest at the Moncton facility and ongoing capacity enhancements expected to add 14,000 kilograms of annual capacity. International revenue reached $7.4 million, indicating a 208% year-over-year and 21% sequential increase, primarily driven by exports to Germany, Australia, and the U.K. The company continues to explore strategic international investments with $59 million available in their Jupiter pool.OrganiGram Holdings Financial Statement Overview
Summary
OrganiGram Holdings shows improved revenue growth and gross profit margins, with a strong balance sheet characterized by low leverage. However, challenges in cash flow management and profitability remain, as indicated by negative free cash flow growth and a negative EBIT margin.Income Statement
OrganiGram Holdings has shown a notable improvement in its revenue growth rate, with a 15.32% increase in the TTM period. The gross profit margin has improved to 33.77%, indicating better cost management. However, the company still faces challenges with profitability, as evidenced by a negative EBIT margin of -5.49%. The net profit margin is positive at 3.47%, showing a turnaround from previous losses.65
Positive
Balance Sheet
The company's balance sheet is relatively strong, with a low debt-to-equity ratio of 0.02, indicating minimal leverage. The return on equity has improved to 2.21%, reflecting better utilization of equity. The equity ratio stands at a healthy level, suggesting financial stability. However, the company needs to continue improving its return on equity to enhance shareholder value.70
Positive
Cash Flow
OrganiGram Holdings faces challenges in cash flow management, with a negative free cash flow growth rate of -36.62% in the TTM period. The operating cash flow to net income ratio is low at 0.03, indicating limited cash generation from operations. The free cash flow to net income ratio is negative, suggesting that the company is not generating sufficient free cash flow relative to its net income.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 223.82M | 159.84M | 149.21M | 145.81M | 79.16M | 86.80M |
| Gross Profit | 75.59M | 47.52M | 35.07M | 31.57M | -28.40M | -56.49M |
| EBITDA | 3.80M | -23.59M | -207.62M | 10.96M | -95.59M | -121.47M |
| Net Income | 7.77M | -45.44M | -229.48M | -14.28M | -130.70M | -136.16M |
Balance Sheet | ||||||
| Total Assets | 564.62M | 407.86M | 298.45M | 577.11M | 554.02M | 417.62M |
| Cash, Cash Equivalents and Short-Term Investments | 36.78M | 107.57M | 33.86M | 98.91M | 183.84M | 74.73M |
| Total Debt | 9.15M | 4.46M | 4.72M | 3.36M | 4.96M | 103.67M |
| Total Liabilities | 179.12M | 101.87M | 26.83M | 69.05M | 74.21M | 118.10M |
| Stockholders Equity | 385.50M | 305.99M | 271.62M | 508.06M | 479.81M | 299.53M |
Cash Flow | ||||||
| Free Cash Flow | -16.95M | -1.47M | -62.70M | -84.99M | -40.92M | -123.78M |
| Operating Cash Flow | 2.75M | 3.87M | -35.80M | -36.21M | -28.59M | -45.13M |
| Investing Cash Flow | -103.69M | -38.77M | 1.35M | 44.03M | -115.11M | -138.20M |
| Financing Cash Flow | 80.91M | 107.78M | -817.00K | 5.33M | 174.46M | 160.37M |
OrganiGram Holdings Technical Analysis
Positive
2.44
Price Trends
2.15
Positive
1.98
Positive
1.93
Positive
Market Momentum
0.09
Negative
62.06
Neutral
78.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:OGI, the sentiment is Positive. The current price of 2.44 is above the 20-day moving average (MA) of 2.32, above the 50-day MA of 2.15, and above the 200-day MA of 1.93, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 62.06 is Neutral, neither overbought nor oversold. The STOCH value of 78.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:OGI.
OrganiGram Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | 1.38B | 53.10 | 1.71% | ― | 31.72% | 0.00% | |
66 Neutral | $327.75M | 81.33 | 1.86% | ― | 38.86% | ― | |
56 Neutral | 2.01B | -8.52 | -13.60% | ― | 4.92% | -64.84% | |
56 Neutral | 2.74B | -7.79 | -28.04% | ― | -2.64% | 1.65% | |
51 Neutral | 396.87M | -20.79 | -3.65% | ― | 28.42% | 48.33% | |
50 Neutral | 646.06M | -0.45 | -104.81% | ― | -4.24% | 55.82% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
TSE:OGI
OrganiGram Holdings
2.44
0.00
0.00%
CGC
Canopy Growth
1.37
-3.20
-70.02%
ACB
Aurora Cannabis
5.09
-0.52
-9.27%
CRON
Cronos Group
2.62
0.47
21.86%
CURLF
Curaleaf Holdings
2.60
-0.44
-14.47%
TCNNF
Trulieve Cannabis
7.63
-3.91
-33.88%
OrganiGram Holdings Corporate Events
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Organigram Reports Record Q3 Fiscal 2025 Results, Expands Internationally
Positive
Aug 13, 2025
Organigram Holdings reported record financial results for the third quarter of fiscal 2025, with significant increases in revenue and adjusted EBITDA. The company achieved a 72% year-over-year increase in net revenue, driven by the acquisition of Motif Labs and international sales growth. Organigram’s strategic expansion into the U.S. market and its leadership in the Canadian cannabis sector underscore its ambition to become a global player. Despite a net loss due to changes in financial instruments, the company continues to optimize its operations and expand its brand portfolio, aiming for further international growth.
The most recent analyst rating on (TSE:OGI) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.
Financial Disclosures
Organigram to Announce Q3 Fiscal 2025 Results on August 13
Neutral
Aug 1, 2025
Organigram Global Inc. announced it will release its third quarter fiscal 2025 earnings results on August 13, 2025. The company will host a conference call to discuss these results, reflecting its continued focus on market leadership and expansion in the cannabis industry. This announcement underscores Organigram’s commitment to transparency and stakeholder engagement, potentially impacting its market positioning and investor relations.
The most recent analyst rating on (TSE:OGI) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.
Product-Related AnnouncementsBusiness Operations and Strategy
Organigram Expands U.S. Presence with Hemp-Derived THC Beverage Launch
Positive
Jul 8, 2025
Organigram Global Inc. has launched an e-commerce platform in the U.S. for its Collective Project brand, marking a significant step in its expansion into the U.S. hemp-derived THC beverage market. This move is part of a broader strategy to capitalize on the growing demand for THC beverages, with the market projected to reach $4 billion by 2028. The launch includes a diverse range of products, enhancing Organigram’s market presence and offering a new revenue stream, while reinforcing its position as a leader in the cannabis industry.
The most recent analyst rating on (TSE:OGI) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.
Executive/Board ChangesBusiness Operations and Strategy
Organigram Global Announces CEO Succession Amidst Strong Growth
Positive
May 27, 2025
Organigram Global Inc. announced the retirement of CEO Beena Goldenberg at the end of the fiscal year, with a comprehensive search for a successor underway. Under Goldenberg’s leadership, Organigram grew significantly, becoming Canada’s market leader in cannabis with substantial revenue growth and international expansion. The company is well-positioned for future growth, with the Board expressing confidence in its strategic direction and leadership team.
The most recent analyst rating on (TSE:OGI) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.