Organigram Global Inc (TSE: OGI) (NASDAQ: OGI) (FRA: 0OG) turned heads across the cannabis sector this week when its latest quarterly figures landed with unusual force. Investors and industry watchers took notice as the Canadian producer posted record numbers that reshaped perceptions about its future outlook.
The jump stemmed directly from the company’s completed takeover of Sanity Group in April. In the third quarter of fiscal 2026, which ended Jun. 30, the firm recorded gross revenue of C$145.1 million, up 32 per cent year-over-year. Net revenue climbed 49 per cent to C$105.8 million. Adjusted EBITDA more than doubled, rising 136 per cent to C$13.4 million.
Sanity alone contributed roughly C$40 million in net revenue during the period under ownership and lifted international sales to about 35 per cent of the total. Shares of Organigram rose more than 15 per cent on Aug. 11 as a result.
Net income reached C$105.5 million, compared with a loss of C$6.3 million in the prior-year quarter. This sharp rise was driven almost entirely by a non-cash fair value gain of roughly C$105.8 million on preferred shares. This is an accounting adjustment that reflects a higher estimated market value of those shares rather than cash generated from operations. Market observers typically view this figure with caution and focus instead on metrics such as adjusted EBITDA.
Sanity Group is a Berlin-based firm founded in 2018. It ranks among Germany’s larger medical cannabis operators, holding an average market share of approximately 10 per cent. The company distributes products through pharmacies and healthcare partners under brands that include avaay and Vayamed. It also maintains activities in Switzerland, Poland and the United Kingdom.
Organigram already held a minority stake before acquiring the remaining shares for an upfront consideration of around €107 million. Potential further payments made to Sanity are linked to performance.
Add $OGI.TO and $ACB.TO to the list!
Organigram, the #1 Canadian LP by market share, reported decent results this morning. The stock rose by 18%.
Aurora also went up by 25% following the hostile take-over bid from Curaleaf $CURA.TO.
Interesting times for the sector! https://t.co/ktyqz3ZJhK
— Stocks & Stones | Mathieu Martin (@Stocks_Stones) August 11, 2026
Read more: Aurora sees 22% surge on hostile takeover bid from Curaleaf
Germany’s expanding medical market underpins the results
The nation’s medical cannabis sector has grown at speed since the 2024 reforms that removed the drug from the narcotics list and simplified prescribing.
Imports reached roughly 201 tonnes in 2025, nearly triple the previous year’s volume, and pharmacy sales crossed the €1 billion mark for the first time. Patient numbers have risen sharply too, with estimates ranging into the high hundreds of thousands.
The market now stands as Europe’s largest and continues to attract international suppliers. Sanity’s established distribution network and roughly 10 per cent share place Organigram inside this expansion. The contribution of C$40 million in a single quarter illustrates how Germany’s rising prescription volumes and import demand translate into measurable revenue for operators with local presence.
However, this rapid expansion has also intensified competition, with pharmacy flower prices falling by nearly 25 per cent over the past two and a half years as cheap imports flood the market.
Read more: Kiwi medical cannabis firm secures largest distribution deal to date
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