Organigram Global Inc. (TSE:OGI)
NASDAQ:OGI
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Organigram Global
(NASDAQ:OGI)
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Rating:44Neutral
Price Target:
C$1.50
▼(-25.37% Downside)
Action:Reiterated
Date:06/11/26
The score is held back primarily by weak operating performance and cash burn (negative profitability, negative cash flows, and TTM revenue contraction). Technicals add additional pressure with a clear downtrend across major moving averages and negative MACD. A strong, low-debt balance sheet is the main stabilizing factor, helping keep the score from falling further.
Positive Factors
Low leverage / strong balance sheet
Very low debt relative to equity provides durable financial flexibility and runway. This reduces solvency risk, supports continued operations amid cash burn, and allows management to fund inventory, marketing or product investments without immediate external financing, aiding multi-month execution.
Negative Factors
Negative cash generation
Sustained negative operating and free cash flow signal ongoing cash burn and dependence on the balance sheet or financing to fund operations. This constrains reinvestment, increases refinancing risk, and limits the firm's ability to scale or absorb shocks without durable margin improvement or new capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Very low debt relative to equity provides durable financial flexibility and runway. This reduces solvency risk, supports continued operations amid cash burn, and allows management to fund inventory, marketing or product investments without immediate external financing, aiding multi-month execution.
Read all positive factors
Organigram Global (OGI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$188.33M
Dividend YieldN/A
Average Volume (3M)207.34K
Price to Earnings (P/E)―
Beta (1Y)2.03
Revenue Growth41.27%
EPS Growth-281.56%
CountryCA
Employees1,093
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.18
Shares Outstanding136,468,690
10 Day Avg. Volume163,673
30 Day Avg. Volume207,344
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.03
Price to Sales (P/S)1.39
P/FCF Ratio-14.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.25Price Target Upside61.69% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.13
Revenue Forecast (FY)C$342.57M
Organigram Global Business Overview & Revenue Model
Company Description
Organigram Holdings Inc. is a Canadian enterprise, operating through its subsidiaries, that cultivates, manufactures, and distributes cannabis and cannabis-derived products. Their medical division offers a range of medical cannabis, including drie...
How the Company Makes Money
Organigram primarily generates revenue by selling cannabis products into regulated markets, with the largest source historically coming from the Canadian adult-use channel. Its key revenue streams generally include: (1) Recreational (adult-use) ca...
Organigram Global Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 09, 2026
Earnings Call Sentiment Positive
The call conveyed substantial operational and financial progress: strong year-over-year revenue (+49%), adjusted gross profit (+67%), adjusted EBITDA (+273%), cultivation scale gains (+43% harvested kg), and important plant-science and manufacturing advances. Management emphasized recovery from discrete disruptions (BC strike, out-of-spec international flower) and reiterated full-year guidance (> $300M revenue) and confidence in margin expansion. Key risks include a roughly $3.5M international revenue impact from out-of-spec flower (now being repurposed domestically), elevated competition in vapes/IPRs, near-term working capital-driven cash usage, pending EU GMP timing, and slow U.S. penetration. Overall, the positive financial momentum, margin improvement, operational breakthroughs and clear mitigation plans outweigh the temporary operational and market headwinds.Positive Updates
Strong Revenue Growth
Net revenue increased 49% year-over-year to $65.3 million (Q1 FY2026 vs Q1 FY2025), driven by Canadian growth, Motif integration and higher international sales; sequential revenue was down 21% due to seasonality and one-time disruptions.
Negative Updates
Sequential International Volume Disruption
Q1 saw an unexpected sequential decline in international volumes driven by a higher-than-expected proportion of flower that did not meet international specifications; estimated impact of roughly $3.5 million of international revenue in the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Net revenue increased 49% year-over-year to $65.3 million (Q1 FY2026 vs Q1 FY2025), driven by Canadian growth, Motif integration and higher international sales; sequential revenue was down 21% due to seasonality and one-time disruptions.
Read all positive updates
Company Guidance
Management reiterated it is on track to meet full‑year guidance of revenue exceeding $300 million and to deliver positive free cash flow, while expecting margin expansion as lower‑cost inventory and higher‑margin international volumes scale through the back half of fiscal 2026; Q1 supports this with net revenue of $65.3M (+49% YoY, -21% sequential), adjusted gross profit $23.9M (+67% YoY) and adjusted gross margin steady at 38% (stable sequentially, +500 bps YoY), adjusted EBITDA $5.3M (+273% YoY) and net income of $20M (versus a $23M loss prior year). Management pointed to operational improvements — harvested >28,000 kg of flower (+43% YoY), average flower THC >29% (38% of lots >30% THC), hydrocarbon extraction capacity +87% YoY, international sales of $5M (up ~55% YoY), and cash & short‑term investments of $63M (including $7.6M unrestricted) — and noted SG&A as a percent of revenue has declined (G&A ~24% of revenue in Q1, overall SG&A down ~200 bps YoY) with ERP costs expected to roll off after Q2.Organigram Global Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
74
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 274.19M | 259.18M | 159.84M | 149.21M | 145.81M | 79.16M |
| Gross Profit | -8.41M | 9.51M | 47.52M | 35.07M | 31.57M | -28.40M |
| EBITDA | -40.84M | -20.55M | -23.59M | -207.62M | 10.96M | -95.59M |
| Net Income | -25.21M | -24.76M | -45.44M | -229.48M | -14.28M | -130.70M |
Balance Sheet | ||||||
| Total Assets | 521.31M | 562.21M | 407.86M | 298.45M | 577.11M | 554.02M |
| Cash, Cash Equivalents and Short-Term Investments | 54.75M | 84.42M | 107.57M | 33.86M | 98.91M | 183.84M |
| Total Debt | 8.20M | 8.75M | 4.46M | 4.72M | 3.36M | 4.96M |
| Total Liabilities | 149.50M | 213.08M | 101.87M | 26.83M | 69.05M | 74.21M |
| Stockholders Equity | 371.81M | 349.13M | 305.99M | 271.62M | 508.06M | 479.81M |
Cash Flow | ||||||
| Free Cash Flow | -20.20M | -24.64M | -1.47M | -62.70M | -84.99M | -40.92M |
| Operating Cash Flow | -9.01M | -7.59M | 3.87M | -35.80M | -36.21M | -28.59M |
| Investing Cash Flow | -15.56M | -82.67M | -38.77M | 1.35M | 44.03M | -115.11M |
| Financing Cash Flow | -2.03M | 39.33M | 107.78M | -817.00K | 5.33M | 174.46M |
Organigram Global Technical Analysis
Negative
2.01
Price Trends
1.72
Negative
1.83
Negative
2.10
Negative
Market Momentum
-0.08
Positive
30.90
Neutral
19.62
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:OGI, the sentiment is Negative. The current price of 2.01 is above the 20-day moving average (MA) of 1.51, above the 50-day MA of 1.72, and below the 200-day MA of 2.10, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 30.90 is Neutral, neither overbought nor oversold. The STOCH value of 19.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:OGI.
Organigram Global Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | C$2.37B | 14.43 | 6.59% | ― | 4.14% | 146.77% | |
67 Neutral | C$1.44B | -500.87 | -0.19% | ― | 27.16% | -103.47% | |
56 Neutral | C$3.76B | -24.90 | -12.61% | ― | -2.25% | 55.22% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | C$604.70M | -1.78 | -35.48% | ― | 5.80% | 85.58% | |
46 Neutral | C$257.06M | -3.17 | -14.05% | ― | -6.61% | -3770.67% | |
44 Neutral | C$188.33M | -7.20 | -6.83% | ― | 41.27% | -281.56% |
* Healthcare Sector Average
TSE:OGI
Organigram Global
1.38
-0.38
-21.59%
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1.36
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-17.58%
TSE:ACB
Aurora Cannabis
4.15
-1.22
-22.72%
TSE:CRON
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3.85
1.30
50.98%
TSE:CURA
Curaleaf Holdings
14.22
11.01
342.99%
TSE:GTII
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10.82
4.21
63.69%
Organigram Global Corporate Events
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsPrivate Placements and Financing
Organigram Closes Sanity Group Deal, Bolsters European Cannabis Push With New Financing
Positive
Apr 15, 2026
Organigram has closed its acquisition of Germany-based Sanity Group, a leading European pure-play cannabis company with operations across medical cannabis, regulated recreational pilots and wellbeing products in several European countries. The dea...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder Meetings
Organigram Shareholders Back Sanity Group Deal, Deepening European Cannabis Push
Positive
Mar 31, 2026
Organigram shareholders have overwhelmingly approved the acquisition of German-based Sanity Group GmbH and a related private placement with a British American Tobacco subsidiary, paving the way for the Canadian producer to deepen its presence in E...
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsPrivate Placements and FinancingShareholder Meetings
Organigram Wins Shareholder Backing for Sanity Group Deal and Board Slate
Positive
Mar 31, 2026
Organigram Global shareholders have overwhelmingly approved the acquisition of Germany-based Sanity Group GmbH and a related private placement with a British American Tobacco subsidiary, clearing a key hurdle for the all-share deal. The transactio...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder Meetings
ISS Backs Organigram’s Premium-Priced Acquisition of Sanity Group
Positive
Mar 23, 2026
Organigram has received a recommendation from proxy advisory firm ISS that shareholders vote in favor of its proposed acquisition of German-based Sanity Group GmbH. ISS cited the deal’s strategic rationale, including increased scale, broader...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.