Organigram Global Inc. (OGI) Reports Q1 Revenue of $97.3 Million, with a Consensus of $73.15 Million

Core Insights - Organigram Global Inc. (NASDAQ:OGI) is recognized as one of the top cannabis stocks to invest in currently [1] - The company reported Q1 revenue of $97.3 million, surpassing the consensus estimate of $73.15 million, with an adjusted EBITDA of $5.3 million, up from $1.4 million year-over-year [2] - The growth in revenue and profits is attributed to higher flower yields, synergies from the Motif integration, increased international sales, and improved operational efficiency [2] - Canaccord initiated coverage of OGI with a price target of C$3 and a Buy rating, highlighting the Canadian cannabis market as a global benchmark despite existing challenges [3] Financial Performance - Q1 revenue reached $97.3 million, exceeding the consensus of $73.15 million [2][7] - Adjusted EBITDA increased to $5.3 million from $1.4 million in the previous year, indicating significant profit growth [2] Market Position and Strategy - Organigram is a market leader in pre-rolls, extracts, and milled flower, and is transitioning to a globally integrated, vertically integrated cannabis corporation [3] - The company aims to expand its global presence through international business alliances [4]