earnings
confidence high
sentiment positive
materiality 0.80
TerrAscend Q3 revenue $89.2M (+34.7% YoY); raises FY2023 guidance to $320M revenue, $73M EBITDA
TerrAscend Corp.
2023-Q3 EPS reported
-$0.19
revenue$230,762,000
- Net revenue $89.2M, up 23.7% sequentially and 34.7% YoY; gross margin 53.6% vs 50.2% in Q2 2023.
- Adjusted EBITDA from continuing operations $24.2M (27.1% margin), up 89% sequentially from $12.8M.
- GAAP net loss from continuing operations improved to $8.4M from $12.9M QoQ and $300.6M YoY (prior year included $331M impairment).
- Raised FY2023 guidance: net revenue to $320M (from at least $317M) and adjusted EBITDA to $73M (from $63M).
- Improved to #2 market share position in New Jersey at 18.6%; commenced adult-use sales in Maryland with four dispensaries.