TerrAscend preannounces Q2 revenue $72.1M (+12.7% YoY), gross margin 50.2%; guides FY23 revenue ≥$305M

TerrAscend Corp.

2023-Q2 EPS reported -$0.15 revenue$141,522,000

Q2 2023 net revenue $72.1M, up 12.7% YoY and 3.9% sequentially; gross profit margin 50.2% vs 48.8% in Q1 2023.
Full-year 2023 guidance: net revenue at least $305M (23% YoY growth), Adjusted EBITDA at least $58M (49% YoY growth).
Preliminary results exceeded internal forecasts; company cites improved margins, balance sheet transformation, and positive cashflow.
Acquired four dispensaries in Maryland and listed on TSX during the quarter; conference call scheduled for August 10, 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TerrAscend Corp. reported second quarter ended June 30, 2023 results: revenue $72.1 million. Guidance initiated.

Period: second quarter ended June 30, 2023
Revenue: $72.1 million
Guidance: initiated
Result: preliminary results

Exact text from the filing

(EX-99.1) --- EX-99.1 TerrAscend Preannounces Strong Second Quarter 2023 Revenue and Gross Margins and Provides Full Year Guidance Record second quarter 2023 Net Revenue of $72.1 million, up 12.7% year-over-year and 3.9% sequentially, representing the 7 th consecutive quarter of sequential growth Gross Profit Margin increased to 50.2% compared to 48.8% in Q1 2023

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Source: SEC EDGAR

accession 0000950170-23-036248

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