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OrganiGram Holdings (TSE:OGI)
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OrganiGram Holdings (OGI) AI Stock Analysis

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TSE:OGI

OrganiGram Holdings

(NASDAQ:OGI)

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Neutral 59 (OpenAI - 4o)
Rating:59Neutral
Price Target:
C$2.50
▲(2.88% Upside)
OrganiGram Holdings' overall score reflects strong earnings performance and market position, offset by technical weakness and valuation concerns. The company's financial performance shows potential, but cash flow management needs improvement. The positive sentiment from the earnings call suggests a promising long-term trajectory, despite current challenges.
Positive Factors
Revenue Growth
Strong revenue growth indicates robust demand and effective market strategies, positioning OrganiGram for sustained expansion in the cannabis industry.
Market Position
Leading market position in Canada reinforces OrganiGram's competitive advantage and brand strength, supporting long-term dominance in key segments.
International Expansion
Significant international revenue growth underscores OrganiGram's successful expansion strategy, diversifying revenue streams and reducing domestic market dependency.
Negative Factors
Cash Flow Management
Challenges in cash flow management can hinder investment in growth opportunities and strain financial stability, impacting long-term operational efficiency.
ERP Integration Challenges
ERP integration issues can lead to operational inefficiencies and customer dissatisfaction, potentially affecting market share and profitability.
EU GMP Certification Delays
Delays in EU GMP certification may postpone access to higher-margin markets, limiting revenue potential and competitive positioning in the EU.

OrganiGram Holdings (OGI) vs. iShares MSCI Canada ETF (EWC)

OrganiGram Holdings Business Overview & Revenue Model

Company DescriptionOrganiGram Holdings Inc. is a leading Canadian cannabis company based in Moncton, New Brunswick. It specializes in the production and sale of high-quality cannabis products, including dried flower, oils, and pre-rolls. With a focus on innovation and sustainability, OrganiGram operates in the regulated cannabis sector, catering to both the medical and recreational markets. The company is committed to delivering premium cannabis products that meet the evolving needs of consumers while adhering to strict quality and safety standards.
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
65
Positive
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.
Balance Sheet
70
Positive
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.
Cash Flow
50
Neutral
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.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue223.82M159.84M149.21M145.81M79.16M86.80M
Gross Profit75.59M47.52M35.07M31.57M-28.40M-56.49M
EBITDA3.80M-23.59M-207.62M10.96M-95.59M-121.47M
Net Income7.77M-45.44M-229.48M-14.28M-130.70M-136.16M
Balance Sheet
Total Assets564.62M407.86M298.45M577.11M554.02M417.62M
Cash, Cash Equivalents and Short-Term Investments36.78M107.57M33.86M98.91M183.84M74.73M
Total Debt9.15M4.46M4.72M3.36M4.96M103.67M
Total Liabilities179.12M101.87M26.83M69.05M74.21M118.10M
Stockholders Equity385.50M305.99M271.62M508.06M479.81M299.53M
Cash Flow
Free Cash Flow-16.95M-1.47M-62.70M-84.99M-40.92M-123.78M
Operating Cash Flow2.75M3.87M-35.80M-36.21M-28.59M-45.13M
Investing Cash Flow-103.69M-38.77M1.35M44.03M-115.11M-138.20M
Financing Cash Flow80.91M107.78M-817.00K5.33M174.46M160.37M

OrganiGram Holdings Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price2.43
Price Trends
50DMA
2.44
Negative
100DMA
2.20
Positive
200DMA
1.97
Positive
Market Momentum
MACD
-0.06
Positive
RSI
40.69
Neutral
STOCH
7.20
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:OGI, the sentiment is Neutral. The current price of 2.43 is below the 20-day moving average (MA) of 2.52, below the 50-day MA of 2.44, and above the 200-day MA of 1.97, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 40.69 is Neutral, neither overbought nor oversold. The STOCH value of 7.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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
C$1.35B52.061.73%31.72%
C$304.92M75.671.86%38.86%
C$1.94B-12.60%4.92%-64.84%
$7.86B-0.30-43.30%2.27%22.53%-2.21%
C$392.92M-0.70%28.42%48.33%
C$3.03B-24.93%-2.64%1.65%
C$620.45M-98.42%-4.24%55.82%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:OGI
OrganiGram Holdings
2.20
-0.31
-12.35%
TSE:WEED
Canopy Growth
1.73
-5.93
-77.42%
TSE:ACB
Aurora Cannabis
6.96
-1.38
-16.55%
TSE:CRON
Cronos Group
3.56
0.49
15.96%
TSE:CURA
Curaleaf Holdings
3.91
-0.39
-9.07%
TSE:TRUL
Trulieve Cannabis
9.66
-7.97
-45.21%

OrganiGram Holdings Corporate Events

Business Operations and Strategy
Canadians Call for Modernized Cannabis Policies to Boost Economy
Positive
Oct 29, 2025

Organigram Global Inc. has released polling data indicating that a majority of Canadians believe the federal government should modernize its cannabis policy, viewing the legal cannabis industry as a significant economic opportunity. The poll suggests that Canadians want the government to support job creation and innovation in the cannabis sector, reduce excise taxes for legal producers, and combat the illicit market. The findings highlight a shift in public perception, with cannabis now seen as a mainstream and integral part of Canada’s economic landscape, contributing significantly to GDP and employment.

The most recent analyst rating on (TSE:OGI) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Organigram Extends CEO’s Tenure Amid Ongoing Search
Neutral
Oct 21, 2025

Organigram Global Inc. has announced that CEO Beena Goldenberg will extend her tenure until November 30, 2025, to facilitate the completion of the company’s CEO search process. The board is pleased with the progress in finding a leader aligned with the company’s strategic vision and growth objectives. Goldenberg will continue to oversee daily operations, ensuring continuity and momentum across business lines, while the company remains focused on delivering key priorities and creating long-term shareholder value.

The most recent analyst rating on (TSE:OGI) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Organigram Launches ‘happly’ THC Gummies for Mindful Recreation
Positive
Oct 9, 2025

Organigram Global Inc. has launched ‘happly,’ a new U.S. hemp-derived THC brand featuring FAST™ nanoemulsion gummies designed for specific mood states: socializing, relaxation, and sleep. This launch marks Organigram’s continued expansion into the U.S. market, targeting the growing segment of consumers interested in ‘mindful recreation’ with low-dose THC products. The brand aims to offer consumers moderation, control, and predictability in their cannabis experiences, using proprietary technology to ensure consistent effects. This strategic move underscores Organigram’s commitment to innovation and positions the company to capitalize on the increasing demand for functional cannabinoid products.

The most recent analyst rating on (TSE:OGI) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.

Business Operations and Strategy
Organigram’s Report Highlights Cannabis as Key Economic Driver in Canada
Neutral
Sep 2, 2025

Organigram Global Inc. has released a report highlighting the significant economic impact of Canada’s legal cannabis industry, which contributed over $16 billion to the national GDP in 2024. The industry supports over 227,000 jobs and has surpassed traditional sectors like forestry and breweries in economic contribution. Despite its success, outdated policies and tax structures are hindering further growth and export potential, with calls for modernization to fully leverage Canada’s first-mover advantage in the global cannabis market.

The most recent analyst rating on (TSE:OGI) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on OrganiGram Holdings stock, see the TSE:OGI Stock Forecast page.

OrganiGram Holdings Reports Record Revenue Amid Growth
Sep 1, 2025

OrganiGram Holdings recently held its earnings call, revealing a strong quarter characterized by record-breaking revenue and a robust market presence in Canada. Despite facing challenges such as ERP integration issues and delays in EU GMP certification, the company remains optimistic about its long-term growth trajectory, supported by positive cash flow and strategic initiatives.

OrganiGram Reports Record Revenue and Expansion
Aug 14, 2025

OrganiGram Holdings, a leading cannabis company in Canada, is renowned for its production of high-quality, indoor-grown cannabis for both medical and recreational use, with a focus on expanding its international footprint.

Business Operations and StrategyFinancial DisclosuresM&A Transactions
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.

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.Date of analysis: Oct 30, 2025