Organigram’s Q2 revenue fell to $93.3M, missing last year’s income of $42.5M despite beating estimates by $42.82M.
Organigram Global reported a Q2 net loss of $0.9 million, reversing a $42.5 million net income from the same period last year. Revenue declined 9.2% year-over-year to $93.3M, though it exceeded expectations by $42.82M.
Net revenue for the quarter totaled $59.8 million, down 9% from the prior year, while international revenue remained flat at $6.1 million. The company attributed the decline to lower domestic sales and pricing pressures.
Shares showed muted reaction in after-hours trading as investors digested the mixed results.