Canadian cannabis producer Organigram trimmed its loss to 2.8 million Canadian dollars ($2.1 million) for the quarter ended May 31 on record gross revenue of CA$55.2 million.
The New Brunswick company recorded a net loss of $CA4.0 million in its fiscal third quarter a year ago.
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Organigram said Thursday its CA$38.1 million net revenue for its third quarter was the highest it has achieved to date, giving the company the No. 3 market share position in Canada.
Gross adult-use revenue in the quarter doubled compared to the previous year to CA$51.4 million.
International wholesale sales jumped to CA$1.4 million in the March-May quarter verus CA$72,000 in the same period last year.
“We are pleased to see continued strength in our recreational business with our increasing market share,” CEO Beena Goldenberg said in the news release.
“We achieved record net revenue results which we expect to surpass again in
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