(Moncton) Organigram Holdings posted a $2.8 million loss for its third quarter on Thursday, even as its gross revenue jumped 90% from the same period a year earlier.
Posted at 12:46 p.m.
The cannabis producer’s loss per share reached 0.9 cents for the quarter ended May 31, which compared with a loss of 4 million, or 1.4 cents per share, for the same quarter last year.
The company’s gross revenue was $55.2 million, up from $29.1 million in the previous third quarter.
Net income rose from 20.3 million to 38.1 million in one year.
Organigram President and CEO Beena Goldenberg pointed out that the company’s net income had reached a record high and that she expected that level to be exceeded again in the fourth quarter, thanks to the strength of its new products, the momentum of retail sales growth and international deliveries.
The company said its market share was 7.8% in the most recent quarter.