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TerrAscend Corp. TSNDF reported net revenue of $77.5 million for the second quarter of 2024, reflecting a 7.5% increase compared to $72.1 million in the same period in 2023.

Executive chairman<a href="https://www.benzinga.com/markets/cannabis/24/08/40133450/terrascend-cannabis-wraps-up-140m-debt-financing-no-other-material-debt-maturing-until-2027-says"> </a><a href="https://www.benzinga.com/markets/cannabis/24/08/40133450/terrascend-cannabis-wraps-up-140m-debt-financing-no-other-material-debt-maturing-until-2027-says">Jason Wild</a> highlighted the company&#39;s material revenue and EBITDA growth, positive free cash flow&nbsp;and a strategic focus on geographic expansion supported by a recently secured $140 million term loan.&nbsp;

&quot;We are closing in on multiple transactions to expand our geographic footprint and the recent closing of our $140 million term loan provides financial flexibility and fuel to execute this growth strategy. We can&rsquo;t wait to share more details, when appropriate,&rdquo; Wild stated in a<a href="http://ir.terrascend.com/"> press release</a>.&nbsp;

<h3>Gross Profit And Margin</h3>

The company&#39;s gross profit for the quarter was $37.7 million, resulting in a gross margin of 48.6%, slightly down from 50.2% in Q2 2023.

<h3>Net Loss</h3>

TerrAscend recorded a net loss from continuing operations of $6.2 million, an improvement from the net loss of $12.9 million in the second quarter of 2023.

<h3>Adjusted EBITDA</h3>

Adjusted EBITDA from continuing operations grew by 21.9% year-over-year to $15.6 million, with an adjusted EBITDA margin of 20.2%, up from 17.8% in the same quarter of the previous year.

Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/08/40259646/cannabis-co-cresco-labs-q2-gross-profit-increases-over-9-yoy-reports-nearly-7-drop-in-revenue">Cannabis Co. Cresco Lab&#39;s Q2 Gross Profit Increases Over 9% YoY, Reports Nearly 7% Drop In Revenue</a>

Price Action:&nbsp;TSNDF closed at $1.35, up 11.57% for the day.&nbsp;

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TerrAscend Corp. (OTC: TSNDF) reported net revenue of $77.5 million for the second quarter of 2024, reflecting a 7.5% increase compared to $72.1 million in the same period in 2023.

TerrAscend's Q2 2024 Results: Keeps 48.6% Of Revenue As Profit, EBITDA Margin Increases - TerrAscend (OTC:TSNDF)

Nicolás Jose Rodriguez

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TerrAscend Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tsndf#OTC">TSNDF</a>) reported net revenue of $77.5 million for the second quarter of 2024, reflecting a 7.5% increase compared to $72.1 million in the same period in 2023.

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TerrAscend's Q2 2024 Results: Keeps 48.6% Of Revenue As Profit, EBITDA Margin Increases

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