TerrAscend reports record 2023 revenue $317.3M (+28%); Q4 Adj. EBITDA $19.6M; first full year of positive free cash flow

TerrAscend Corp.

Full year 2023 net revenue $317.3M, up 28% YoY; gross profit margin 50.3% vs 41.0% in 2022.
Adjusted EBITDA from continuing ops $68.8M for FY2023 (+77.1% YoY); positive free cash flow $23.4M (first full year).
Q4 2023 net revenue $86.6M (+25.5% YoY); Adjusted EBITDA $19.6M (+60.7% YoY); margin 22.7% vs 17.7%.
GAAP net loss from continuing ops $82.3M for FY2023 includes $58.0M non-cash impairments on Michigan/California intangibles.
Changed tax position under IRC 280E; reclassified $59.2M tax liabilities to long-term; expects ~$26M in refunds for 2020-2021.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TerrAscend Corp. reported financial results for the fourth quarter and fiscal year ended December 31, 2023.

Period: the fourth quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 14, 2024, TerrAscend Corp. (the "Company") issued a press release announcing its financial results and business highlights for the fourth quarter and fiscal year ended December 31, 2023.

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Source: SEC EDGAR

accession 0000950170-24-031493

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