The Moncton, N.B.-based company brought in net revenue of $26.9 million for the quarter ending Feb. 28, 2019, a 117 per cent increase from its previous quarter
The chief executive of Organigram Holdings Inc. — one of the best-performing licensed producers in terms of gross margins since legalization — believes that the core driver of his company’s relative success in the space was its decision to cultivate cannabis not in massive greenhouses, but in smaller indoor facilities instead.
Organigram, which only grows premium cannabis that fetches a higher price, operates a three-storey indoor facility that currently yields 36,000 kilograms of cannabis annually. One of the biggest differentiators between greenhouse growing, and indoor growing is cost, the latter generally costing more than the former.
The company is also less focused on branding and marketing strategies than others in the space, a decision that to some extent reflects in its lower-than-average administrative expenses relative to other licensed producers. Investors, however did not react kindly to Organigram’s latest financials — the company’s stock fell 10 per cent on Monday, and recovered only slightly Tuesday.
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