Organigram Reports Q4 2025 Financial and Full Fiscal Year Results

TORONTO – Organigram Global Inc. released its record Q4 and fiscal 2025 results, showing substantial gains in revenue and profitability metrics despite a quarterly net loss tied to one-time charges.

For the fourth quarter, gross revenue reached $123.3 million, up 76% from the prior year, while net revenue climbed 79% to $80.1 million. The adjusted gross margin expanded to $30.6 million, or 38% of net revenue, reflecting efficiencies in cultivation and a richer product mix. Adjusted EBITDA came in at $9.8 million, a 69% improvement. The quarter’s net loss widened to $38 million from $5.4 million a year earlier, largely because of non-cash adjustments to derivative liabilities and other financial instruments.

Over the full fiscal year, Organigram’s gross revenue swelled 63% to $403 million, with net revenue following suit at 62% growth to $259.2 million. Adjusted gross margin rose 69% to $91 million, or 35% of net revenue, aided by lower cultivation costs and selective price hikes on core offerings. Adjusted EBITDA more than doubled, up 160% to $21.9 million, while the annual net loss narrowed 46% to $24.8 million. International wholesale revenue, a bright spot, surged 173% to $26.3 million, fueled by shipments of dried flower and extracts to medical markets in Germany, Australia, and UK.

Operationally, the company held an 11.9% slice of Canada’s recreational Cannabis sales, topping all producers. Key 2025 steps included the April acquisition of Collective Project Limited, which opened doors to cannabinoid beverages in Canada and hemp-derived THC drinks across 10 U.S. states, later scaled to direct-to-consumer sales in 25 states by July. In October, Organigram debuted happly, a U.S.-focused edibles line blending cannabinoids with mood-specific ingredients like those for relaxation or sleep, powered by its fast-acting soluble technology. Genomics research yielded markers for powdery mildew resistance, paving the way for hardier strains and higher yields, while a record harvest underscored cultivation gains. Awards rolled in too: “Exporter of the Year” at New Brunswick’s 2025 honors in May, and a win at California’s High Spirits Awards for Collective Project beverages the same month.

Looking ahead, Organigram anticipates net revenue above $300 million in fiscal 2026, banking on steady domestic demand, export momentum, and internal efficiencies, though excise taxes at 35-36% of gross sales remain a persistent drag on margins.

Ultimately, as evidenced by the above figures and achievements, Organigram maintains a stronghold on Canada’s fragmented market, showcasing the benefits [and risks] of pursuing international growth in a sector still facing oversupply and regulatory challenges. As peers like Tilray and Aurora post uneven quarters, Organigram’s performance suggests a measured bet on premium branding and operational discipline could sustain its edge through 2026.