Organigram Holdings Inc. (NASDAQ: OGI) (TSX:OGI), the parent company of Organigram Inc., released its results for the second quarter ended February 28, 2022.
Key Financial Results for the Q2 Fiscal 2022
Compared to the prior year, net revenue increased 117% to CA$31.8 million ($24.45 million), from CA$14.6 million in Q2 Fiscal 2021. The increase was primarily due to an increase in adult-use recreational revenue and international revenue, partly offset by lower average net selling price due to product mix and a decrease in medical revenue.
Gross margin before fair value changes to biological assets, inventories sold, and other charges improved to CA$6.9 million from negative CA$16.5 million in Q2 Fiscal 2021 largely due to higher net revenue …