Avida Medical

Organigram Reports 25% YoY Increase In Q3 Net Revenue, Significant Improvement In Adjusted EBITDA
Cannabis producer Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) announced on Tuesday results for the third quarter ended June 30, 2024, revealing its net revenue increased 25% year-over-year to CA$41.1 million ($29.9 million). Beena Goldenberg, the company's CEO, praised the revenue milestone. "We are pleased to report a strong third quarter, highlighted by a 25% year-over-year increase in net revenue, and a significant improvement in adjusted EBITDA", Goldenberg said. In May, Organigram announced its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and special medicines manufacturing business. In June, the company announced a strategic investment aimed at expanding its presence within Germany, one of the burgeoning European cannabis markets.
Organigram And This Canadian Cannabis Brand Expand In Europe And Beyond
Germany's recent legislative push in the cannabis sector marks a significant turning point not only for the country but also for the European cannabis landscape. Europe has become more open-minded about medical and recreational marijuana over the recent years which is why the growing number of the North American cannabis operators that opted to venture into the new market doesn't come as a surprise. On Tuesday, Toronto-based cannabis giant Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) announced its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and specials medicines manufacturing business.In the meantime, this week, Canadian cannabis brand Ghost Drops, announced an exclusive partnership with SOMAÍ Group, an international cannabinoid biopharma company with distribution channels.

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