Q1 Fiscal 2024 Capital Structure Review
Q1 FISCAL
2024 KEY
FINANCIAL
METRICS
Gross revenue
Excise taxes
Net revenue
In $ millions unless
otherwise indicated
ORGANIGRAM
Q1'24
Q1'23
% Change
56.3
60.9
(8%)
(19.8)
(17.6)
13%
36.5
43.3
(16%)
Cost of sales
26.9
31.6
(15%)
Gross margin before fair value changes to biological assets & inventories sold
9.5
11.7
(19%)
Realized fair value on inventories sold and other inventory charges
(11.9)
(12.5)
(5%)
Unrealized gain on changes in fair value of biological assets
9.1
24.7
(63%)
Gross margin
6.7
23.9
(72%)
Adjusted gross margin¹
11.2
12.8
(13%)
Adjusted gross margin %1
31%
30%
1%
Selling (including marketing), general & administrative expenses
16.5
15.7
5%
Adjusted EBITDA1
0.1
5.6
(98%)
Net income (loss)
(15.8)
5.3
nm
Net cash provided by operating activities
7.7
3.5
122%
1.
Adjusted gross margin, adjusted gross margin % and adjusted EBITDA are non-IFRS financial measures not defined by and do not have any
standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers; please refer to the
cautionary statement at the beginning of this document and the Company's Q1 Fiscal 2024 MD&A for definitions and a reconciliation to IFRS.
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