OrganiGram Holdings (OGI) Q1 2021 Earnings Call Transcript


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OrganiGram Holdings (NASDAQ:OGI)
Q1 2021 Earnings Call
Jan 12, 2021, 8:00 a.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good morning. My name is Casey, and I will be your operator today. At this time, I would like to welcome everyone to OrganiGram Holdings Inc.’s first-quarter fiscal 2021 earnings conference call. All lines have been placed on mute to prevent any background noise.

After the speakers’ remarks, there will be a question-and-answer session. We ask that you please limit yourself to one question and one follow-up question. You may requeue if you have any further questions. As a reminder, this conference call is being recorded and a replay will be available on our — OrganiGram’s website.

At this time, I would like to introduce Amy Schwalm, vice president, investor relations. Please go ahead.

Amy SchwalmVice President, Investor Relations

Thank you, Casey. Joining me today are OrganiGram’s chief executive officer, Greg Engel; chief financial officer, Derrick West; and our chief strategy officer, Paolo De Luca. Before we begin, I would like to remind you that today’s call will include estimates and other forward-looking information from which our actual results could differ. Please review the cautionary language in today’s press release regarding various factors, assumptions and risks that could cause our actual results to differ.

Furthermore, during this call, we will refer to certain non-IFRS measures including adjusted EBITDA and adjusted gross margin. These measures do not have any standardized meaning under IFRS, and our approach in calculating these measures may differ from that of other issuers and so are not directly comparable. Please see today’s earnings report for more information about them. I will now hand the call over to Greg.

Greg EngelChief Executive Officer

Thanks, Amy. Good morning and thank you for joining us today. This morning we reported our fiscal quarter — our first-quarter fiscal 2021 results for the period end of November 30, 2020. We’re pleased with meaningful growth in our adult rec’s sales sequentially from last quarter.

Strong evidence that our new products as part of our portfolio revitalization are resonating well with consumers. We’re excited about the recent launch of another three strains under our Edison brand and we have more to come in the next few quarters as we continue to reinvigorate this brand. Encouragingly, Edison was recognized as one of the most-searched brands on Ontario Cannabis Store website for the month of November. We’ve started to ramp up cultivation and staffing such that we can meet overall increased…



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