TerrAscend Q2 2023 record revenue $72.1M (+12.7% YoY); reaffirms FY guidance

TerrAscend Corp.

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

Net revenue $72.1M, up 12.7% YoY and 3.9% sequentially; gross margin 50.2% (+140bps).
GAAP net loss from continuing ops $12.9M vs $19.2M in Q1; adjusted EBITDA $12.8M (17.8% margin).
Reaffirmed FY2023 outlook: revenue at least $305M, adjusted EBITDA at least $58M.
Closed Maryland dispensary acquisitions, $25M loan at prime+2.25%, paid down $43M of high-interest debt.
Commenced trading on TSX under 'TSND'; cash and equivalents $34.5M.

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 0.92

TerrAscend Corp. reported the second quarter ended June 30, 2023 results: revenue $72.1 million, net income $12.9 million. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $72.1 million
Net income: $12.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Act, except as expressly set forth by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- EX-99.1 TerrAscend Reports Second Quarter 2023 Record Net Revenue of $72.1 Million, an Increase of 12.7% Year-Over-Year and 3.9% Sequentially, Representing its 7 th Consecutive Quarter of Sequential Revenue Growth Gross profit margin increased to 50.2%, an

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Source: SEC EDGAR

accession 0000950170-23-041350

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