Organigram Global, one of Canada’s largest cannabis producers, reported record third-quarter revenue Tuesday, gains driven by its acquisition earlier this year of German medical cannabis company Sanity Group and steadier performance across its Canadian business.
Net revenue rose 49% year over year to CA$105.8 million for the quarter that ended June 30, up from CA$70.8 million ($50.79 million) a year earlier, according to a company news release.
As BNN Bloomberg reported, New Brunswick-based Organigram was already an investor in Sanity and took over the company in April in a deal worth an estimated 107-million euros.
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Other highlights from the company’s third-quarter earnings, reported Tuesday, include:
- Adjusted EBITDA rose 136% year over year to $13.4 million.
- Gross revenue reached $145.1 million.
- Organigram maintained leading market positions across key Canadian cannabis categories.
- Since closing in April, Sanity Group contributed approximately 25 million euros (C$40 million) in net revenue.
Organigram’s acquisition of Sanity reshaped its geographic footprint. International operations now account for about 35% of consolidated revenue, up from about 10% before the deal.
“Sanity’s performance has been in line with our expectations, while our Canadian business continues to demonstrate resilience through market leadership and improving performance in key categories driven by operational enhancements and targeted changes to our product portfolio,” CEO James Yamanaka said in a statement.
“As we enter the final quarter of fiscal 2026, we are a fundamentally different company, and I look forward to continuing to execute our global strategy by leveraging our integrated Canadian operations and European distribution platform to drive long-term growth.”
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Sanity is extending its reach beyond Germany, Organigram said.
During the quarter, it prepared for an additional Swiss recreational pilot, recorded its first medical cannabis sale in Switzerland, advanced plans to enter Poland and launched branded products in the U.K. through partnerships.
The strategy builds on Yamanaka’s view, outlined in earlier MJBizDaily coverage, of Germany as a launchpad for broader European growth.
He has pointed to Sanity’s brand strength and distribution network as central to the deal, with France, Spain, Portugal and the Netherlands identified as future targets.
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