TerrAscend Q2 net rev $65M, gross margin 51.1%; exits Michigan, completes $79M refinancing

TerrAscend Corp.

2025-Q2 EPS reported -$0.22 revenue$129,309,000

Net revenue $65.0M (down 3.3% YoY); gross profit margin improved to 51.1% from 49.6%.
GAAP net loss from continuing ops $6.4M (vs $6.3M loss YoY); adjusted EBITDA $16.0M (24.6% margin).
12th consecutive quarter positive cash flow from continuing ops ($7.3M); 8th consecutive positive free cash flow ($5.0M).
Announced exit from Michigan market; plans to sell assets in H2 2025 to pay down debt.
Subsequent to quarter end, closed $79M non-dilutive refinancing extending maturities to late 2028; additional $35M for M&A.

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