Yesterday, OrganiGram Holdings Inc. (OTC:OGRMF) (TSXV:OGI) announced Q4 and year-end financial results for the period ending August 31st, 2016. Compared to last year's results, adjusted margin has more than doubled along with massive increases in grams of marijuana sold.
2016 vs. 2015
Below is a comparison chart featuring the financial and operational growth highlights of the fiscal year. From grams of marijuana sold to net profits, we see OrganiGram on an impressive growth trajectory as it moves forward.
Grams sold in 2016 was 732,022 vs. 132,099 in 2015.
Net sales in 2016 was $6,127,623 CAD vs. $986,676 CAD in 2015.
Adjusted margin in 2016 was 54% vs 25% in 2015.
Net profit in 2016 was $846,663 CAD vs. -$1,276,854 CAD in 2015.
Adjusted EBITDA in 2016 was $29,530 CAD vs. -$1,835,997 in 2015.
Cash flow from operations in 2016 was $72,904 CAD vs. -$1,679,223 CAD in 2015.
Recent OrganiGram Developments
As mentioned above, OrganiGram's fiscal year ended on August 31st, 2016. We believe that the company has had a handful of notable developments since then including:
We would have to agree with OrganiGram's CEO that the company is headed for new heights.
"While we are happy to have our first year of positive operating cash flow under our belt, this is just the beginning and we have never been more optimistic about our future. Our facility expansion is well underway, our branding initiatives are developing nicely, and we have been fortunate enough to establish partnerships with some of the strongest platforms in the space," said Denis Arsenault, CEO of OrganiGram.
We hope this was a useful breakdown of OrganiGram's recently announced financial results. For the full financial results, check out OGI's SEDAR profile here. For more information and recent coverage on OrganiGram, check out the company's stock profile in our TSX Listed Marijuana Stocks Database. For the original press release regarding OrganiGram's financial results, click here.
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