TerrAscend Q1 revenue down 4.5% QoQ to $71M; margin expands to 51.8%; closes Ohio dispensary deal

TerrAscend Corp.

2025-Q1 EPS reported -$0.05 revenue$70,997,000

Q1 net revenue $71.0M (-4.5% vs Q4'24); gross margin 51.8% (+160bps QoQ).
GAAP net loss narrowed to $12.3M from $30.2M QoQ; Adjusted EBITDA $15.3M (21.6% margin).
Positive operating cash flow for 11th consecutive quarter; free cash flow $5.5M.
Closed acquisition of Ratio Cannabis dispensary in Ohio; signed definitive agreement for 4th NJ dispensary.
Issued ~4.57M common shares at $0.29/share as part of Ohio acquisition consideration.

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