Organigram Posts Revenue Drop, But Plans To Add Up To 130 Jo

Organigram Posts Revenue Drop, But Plans To Add Up To 130 Jobs


Part of Organigram's chocolate production line. Image: Inda Intiar/Huddle
Organigram Holdings, the parent company of licensed cannabis producer Organigram Inc., posted $19.3-million in net revenue in Q1 2021, a 23 percent year-on-year drop. It’s also a drop from Q4 2020, when it generated $20.4-million in net revenue. Nonetheless, they plan to hire up to 130 people to meet the growing demand for products.
Much of the first-quarter revenue came from its recreational products, which generated a 30 percent year-on-year increase in revenue to $16.8-million ($25.3-million), though the overall cost of sales went up 47 percent to nearly $23.2-million. These products also generated 11 percent more net revenue this quarter, compared to the last.

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