TerrAscend Q1 revenue $69.4M (+42.8% YoY), gross margin 48.8%, positive FCF $5.9M

TerrAscend Corp.

2023-Q1 EPS reported -$0.09 revenue$69,398,000

Net revenue $69.4M, up 42.8% YoY; gross margin 48.8%, up 420 bps sequentially.
GAAP net loss from continuing ops $19.2M vs $2.0M in Q4 2022 due to prior impairment reversal.
Adjusted EBITDA $12.2M (17.6% margin), flat sequentially, up from $4.9M in Q1 2022.
Positive free cash flow $5.9M, first since Q1 2021; cash $32.9M, up from $26.2M.
Closed AMMD dispensary acquisition in Maryland for $9.6M cash; applied for TSX listing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TerrAscend Corp. reported the first quarter ended March 31, 2023 results: revenue $69.4 million, net income $19.2 million.

Period: the first quarter ended March 31, 2023
Revenue: $69.4 million
Net income: $19.2 million
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Highlights ● Net Revenue was $69.4 million, an increase of 0.6% sequentially and 42.8% year-over-year. ● Gross Profit Margin was 48.8%, compared to 44.6% in Q4 2022 and 32.1% in Q1 2022. ● Adjusted Gross Profit Margin 1 was 49.0%, compared to 45.3% in Q4 2022 and 40.3% in Q1 2022. ● GAAP Net loss from continuing operations was $19.2 million, compared to $2.0 million in Q4 2022 and $13.8 million in Q1 2022. ● EBITDA from continuing operations 1 was $6.1 million, compared to $30.0 million in Q4 2022 and $1.1 million in Q1 2022. ● Adjusted EBITDA from continuing operations 1 was $12.2 million, compared to $12.2 million in Q4 2022 and $4.9 million in Q1 2022. ● Adjusted EBITDA Margin from continuing operations 1 was 17.6%, compared to 17.7% in Q4 2022 and 10.1% in Q1 2022. ● Cashflow provided by (used in) continuing operations was $8.4 million compared to $7.3 million in Q4 2022 and ($18.8) million in Q1 2022. ● Free cash flow was a positive $5.9 million compar

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

TerrAscend Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-021267

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.