Canada: Organigram reports CA$248 million loss

MJ Biz

Canadian cannabis producer Organigram reported a loss of 248.6 million Canadian dollars ($185 million) in the 2023 fiscal year, postponed its free cash flow guidance and appointed a permanent chief financial officer.

The Toronto-based company also reported paying a massive excise bill for the fiscal year ended Sept. 30 to Canada’s federal government amounting to CA$72 million.

That’s just under one-third of Organigram’s revenue for the year.

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