Earnings season continues to roll on as Shadd Dales and Anthony Varrell welcome Beena Goldenberg, CEO of Organigram (NASDAQ: OGI | TSX: OGI), and Raj Grover, CEO of High Tide (NASDAQ: HITI | TSXV: HITI), on the latest Trade To Black Podcast. We will unpack Organigram’s latest quarterly results for Q3 2025 and explore High Tide’s push into the German medical cannabis market.
Organigram CEO Bina Goldenberg reviews the Q3 2025 results in plain English. Organigram reported $110.2 million in gross revenue and a 73% year-over-year net revenue increase. Goldenberg will dive into evenue momentum, gross margin mix, adjusted EBITDA trajectory, cash position, CapEx discipline, and how pricing, category mix, and retail execution shaped the headline numbers. We also compare performance versus Canadian peers, discuss wholesale dynamics and export channels, and flag what the next two quarters could look like if volumes, pricing, and costs hold near current levels.
Goldenberg stressed the balance between product consistency and innovation, and outlined growth in both domestic and international markets, including Germany, Australia, the UK, and emerging EU opportunities. Regulatory changes allowing multi-pack gummies and pre-rolls are expected to draw more consumers from illicit to legal channels.
In segment two, Raj Grover, CEO of High Tide gives us the insider scoop into High Tide’s push into the German medical cannabis market through the acquisition of a majority stake. The company’s 51% acquisition of REMEXIAN Pharma, a top German cannabis distributor with 16% market share in imported grams sold, is facilitating this push.
We cover why Germany matters now, how this deal complements High Tide’s retail ecosystem and digital platforms, expected timelines and milestones, capital needs, and what success looks like across patient access, product assortment, and margin structure. We also talk regulatory context, competitive positioning, and how this move could shape High Tide’s international strategy.
With German imports running at 172 tons annually and projected higher, he sees strong pricing and growth potential. Grover addressed proposed German regulations targeting telemedicine abuse, predicting limited long-term impact, and confirmed High Tide’s interest in future German retail opportunities.
