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Cannabis Medical Markets Are Growing, So What’s Next?

By Shadd Dales On Aug 21, 2026

It’s Thursday on today’s Trade To Black podcast presented by Flowhub, with host Shadd Dales flying solo as earnings season continues. Organigram Global CEO James Yamanaka joins for segment one to break down a record quarter, followed by FundCanna CEO Adam Stettner for his weekly segment on emerging medical markets and the lending demand growing alongside them.

Yamanaka walks us through Organigram’s (NASDAQ: OGI) record fiscal third quarter: net revenue up 49% year over year to $105.8 million, net income of $76.2 million, or $0.56 per share, and adjusted EBITDA surging 136% to a record $13.4 million, with margins expanding to 37%. He credits both a Canadian recovery — where Organigram holds the top overall market share, leading in vapes and milled flower with strong positions across concentrates, flower, and pre-rolls — and the first near-full quarter of Germany’s Sanity Group, which contributed roughly €25 million in net revenue and pushed international sales to 35% of the total. With German demand surging and EU-GMP flower supply tight, he details the pending Moncton certification, names Sanity founder Finn Hänsel as the group’s new president of rest-of-world, and gives his take on Curaleaf’s (TSX: CURA) hostile bid for Aurora Cannabis (NASDAQ: ACB), which sent a flurry of volume through several Canadian LPs — Organigram included — last week, along with where he sees sector M&A heading.

For his weekly segment, Stettner turns to the emerging medical markets driving new lending demand. With cannabis medically rescheduled back in spring 2026, patient growth is expanding not just in legacy states but in newer programs like Georgia and Kentucky — and financing needs are growing right alongside them. He shares his read on what’s actually fueling medical-side lending activity right now, and unpacks the mechanics operators wrestle with: why growth, though healthy, shifts risk into 30-, 60-, and 90-day receivables that can consume cash faster than they create value, and how FundCanna’s ReadyPaid pays most of an invoice at day zero so operators can scale without the carry.

Catch both conversations on today’s episode.

AN – Sidebar Square

Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.