Organigram nears profitability as cannabis sales jump to $145.8 million

Cannabis producer Organigram Holdings said its sales soared in the fourth quarter and year ended Aug. 31, rising to C$45.5 million ($33.5 million) and $145.8 million, respectively. In a press release, the company cited Hifyre data that said the company's market share has grown year-over-year, controlling 8.2 percent of the Canadian adult cannabis market in the June-August quarter. The improving market share trend contrasts with competitors such as Canopy Growth Corp. and Tilray Brands, both of which saw their market share drop significantly during the same period. organigram also expects to generate additional revenue from overseas orders, particularly in Israel and Australia. organigram shares are traded on the Nasdaq and Toronto Stock Exchange So OGI trading.

Information source: new.qq.com/omn/author/8713560