Canadian cannabis company Organigram Holdings Inc. OGRMF, +6.08% OGI, +5.62% said Monday it had a net loss of C$6.4 million ($4.8 million), or 5 cents a share, in its fiscal second quarter to Feb. 28, after earnings of C$1.076 million, or 1 cent a share, in the year-earlier period. Gross revenue rose to C$33.5 million from C$2.93 million a year ago. Revenue excluding excise taxes came to C$26.9 million. The consensus of four analysts polled by FactSet was for EPS of 2 cents and revenue of C$24.2 million. The company said its “all-in” cost of cultivation came to 85 cents per gram of dried flower harvested, down from C$1.48 a year ago, mostly due to higher yields per plant. The company said it believes it’s well positioned for the derivatives and edibles launch in the fall of 2019 and is expanding capacity at its Moncton facility. It is focusing on vaporizable pen technologies and a range of edibles. Shares rose 0.9% premarket, and have gained 129.3% in the last 12 months, while the S&P 500 SPX, +0.66% has gained 9.5%.
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