Jesse Redmond will share his industry knowledge as a speaker at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16-17, 2024. TerrAscend will also be attending the conference, making it a must-see for anyone who wants to keep their finger on the pulse of the cannabis industry.

A Closer Look At TerrAscend's 2023 Financial Highlights

“In 2023, all four quarters were fundamentals for us… Our gross margin improved from 41% in 2022 to 50.3% for 2023,” stated Ghanem, TerrAscend's CEO. This operational momentum is particularly noteworthy as TerrAscend not only improved its financial health but solidified its market presence, especially in Maryland and New Jersey. 

The multi-state operator showcased a significant revenue increase of 28% year-over-year, with an impressive 25.5% increase in fourth-quarter revenue, amounting to $86.6 million, alongside a gross profit margin boost to 48.2% from 44.6% in Q4 2022.

During the “Higher Exchanges” podcast episode, TerrAscend’s leadership also talked about the challenges the company faced, such as equipment malfunctions in Maryland that led to a crop failure, yet still managing a gross margin increase.

Ohio And Florida: The Next Frontiers

Ohio is a golden opportunity for TerrAscend's growth, concur the execs.”With Ohio, we are having multiple conversations, and there are multiple ways where we can enter Ohio. Now it’s a matter of…is it in a big way or in a bigger way? We will be in Ohio by adult use, as promised,” Ghanem said.

Photo: Carlos Alvarez