Organigram revenue dips 9% to $59.8M, German acquisition set to add €100M annually

Organigram Global (NASDAQ:OGI) posted net revenue of $59.8 million for the quarter ended March 31, 2026, a 9% decrease from the same period last year.

Gross revenue also fell by 9% to $93.3 million.

The top-line contraction contributed to a sharp decline in adjusted EBITDA, which fell 82% year-over-year to $0.9 million.

Despite the financial headwinds, Organigram maintained its status as Canada’s top cannabis company by market share, holding the #1 position in the high-margin vape, milled flower, and concentrate categories.

The company’s growth narrative is increasingly shifting toward Europe following the post-quarter completion of its acquisition of Sanity Group.

As a leader in the German cannabis market, Sanity Group is projected to generate approximately €25 million in average quarterly revenue over the next year.

Management expects the deal to provide a scalable platform for expansion across the European Union, capitalizing on Germany’s recent regulatory shifts toward decriminalization and expanded medical access.

While revenue softened, Organigram’s operational efficiency reached new heights at its flagship Moncton facility.

The company achieved a record quarterly harvest of over 32,000 kg—a 56% increase year-over-year—alongside its highest-ever average THC potency.

In a move to reduce long-term crop loss, the company’s plant science division also launched two new powdery mildew-resistant cultivars, utilizing advanced genetic marker identification.

Beyond Europe, Organigram is deepening its footprint in the Asia-Pacific region.

The company recently launched 10 new stock-keeping units (SKUs) in Australia under the BOXHOT and Edison brands.

These vape and gummy products are expected to be distributed to more than 4,000 pharmacies across Australia’s rapidly growing medical cannabis network.

Organigram ended the quarter with a resilient market position, ranking #2 in flower and pre-rolls and #3 in edibles nationally.

However, the 82% drop in Adjusted EBITDA highlights the margin pressure currently affecting the Canadian licensed producer (LP) landscape.

With the integration of Sanity Group and the continued optimization of its Moncton facility, Organigram is betting that international scale and superior genetics will provide the path back to sustainable profitability by late 2026.