Peer & Trend Comparison Gross Margin % Before IFRS Voodoo

I will take a one day break from posting the Income Statement Driver and Implied Breakeven charts to post this new one on Peer & Trend Gross Margin. OGI sure has a pretty trend. I will start using the above in quarterly Rundowns.

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Organigram Rundown Q1 F2019 Nov 30, 2018

Hot damn!!  An LP with POSITIVE Net Operating Profit!!  OGI will now run the risk of being added to TheCannalysts “biased” list of LP’s that we spread and analyze. /s Open up the fins and MDA and follow along. Plenty of new info and data in the MDA to wrap your head around.  Some pretty decent disclosure by OGI.  Hoping other LP’s give as much [or more] disclosure. Gross Profit margins per unit per segment were particularly interesting I did like the following comment from their MDA, that I thought I’d point out… Those are most of the elements I look at too. Sales:…

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Organigram Q4 F2018 Rundown – Aug 31, 2018

OK… you may have read my Bah Humbug comment on the Sports Bar last night about Q4’s and how I wished that company’s would lay out the Q4 versus just doing an Annual aggregation.  Here is why…   Organigram 9 mos YTD 12 mos F2018 Delta Reported via MDA 31-May-18 31-Aug-18 Q4 F2018 Q4 F2018 Sales $9,611 $11,936 $2,325 $3,205 Sales returns $489 $493 $4 $8 Net Sales $10,100 $12,429 $2,329 $3,213 Cost of Sales $4,009 $4,659 $650 $1,068 Indirect production costs $1,002 $1,289 $287 $287   $5,011 $5,948 $937 $1,355 Gross Margin B4 IFRS $5,089 $6,481 $1,392 $1,858 Fair Value adjustments $15,172 $46,018…

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Organigram Q3 F2018 Rundown

Open up the financials and MDA and let’s take a look.SalesOgi experienced a 15% QoQ increase in Sales to $3.7 million or approximately $0.5 million. This increase results from a 28% increase in flower sales and 39% increase in oil sales. As the sales increase is less than those individual weight increases it means they are selling more weight at less revenue per unit.Some new disclosure: Once they report this for a few more Q’s Ill have a trend line.Sales are split $1,636 flower to patients, $1,363 oil to patients, and catch all of $727 Other which is accessories, revenue from Trauma Healing Centers…

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Organigram Q2 F2018 Rundown

OGI evidenced a 20% increase in sales or $532k QoQ [net sales including unused sales credit increased $1 million and 37%] driven largely by strong oil sales up 32% by volume and flower up 22% by weight. Oil sales by volume is at a record 552k ML, and flower of 238 kg has not yet reached the peak reached in Q ended Nov/2016 of 260 kg. As both the volume and weight increases are in excess of the Sales increase of 20% then price per volume and/or weight decreased. No revenue per germ or per ML is provided.Also of note, Sales per Average Patient…

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