Moncton, New Brunswick-based Organigram Holdings Inc. (TSX: OGI) (OTC: OGRMF), a licensed producer of cannabis, reported Q4 revenue of CAD$3.2 million, down 14% from Q3 of CAD$3.7 million. Q4 did not include recreational cannabis sales that started Oct 17.
The company did not explain the lower revenue versus previous quarter, focusing instead on the positive story that full year 2018 revenue was higher than 2017. Net sales for the full year of CAD $12.4 million was up 131% from $5.4 million in 2017.
It has launched its premium Edison Cannabis Company brand, and the Edison Reserve line. It has also launched the Trailblazer brand for value-focused consumers. It is launching its ANKR Organics and
Organigram improved its “cost of cultivation” in Q4 to $0.83 per gram. This is an internal, non-IFRS measurement that includes all costs related to operations. It excludes packaging, shipping and SG&A and is not necessarily comparable to other producers. On October 24 Organigram began using power from a new 40-megawatt substation, providing cleaner electrical supply, improving efficiency, and lowering maintenance cost on equipment.