Zinger Key Points
- Gross profit totaled $36.2 million, resulting in a gross margin of 48.8%, a slight increase from the previous quarter.
- Learn how to trade volatility during Q1 earnings season, live with Matt Maley on Wednesday, April 2 at 6 PM ET. Register for free now.
The company recently secured a $140 million senior loan maturing in 2028, carrying a 12.75% interest rate, with no prepayment penalties.
Positive Cash Flow Amid Market Challenges
TerrAscend Corp. TSNDF reported its third-quarter revenue of $74.2 million Wednesday afternoon marking a 4.3% sequential decline, mainly attributed to reduced wholesale sales in New Jersey and retail sales in Michigan. Gross profit totaled $36.2 million, resulting in a gross margin of 48.8%, a slight increase from the previous quarter, driven by operational improvements in Maryland.
- Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. You can't afford to miss out if you’re serious about the business.
Navigating Losses And Operational Costs
Net loss from continuing operations rose to $21.4 million, a jump from $6.2 million in the previous quarter, impacted by various one-time non-cash adjustments and increased administrative costs. Adjusted EBITDA was $13.7 million, down from $15.6 million, with the adjusted EBITDA margin slipping to 18.5%. Despite these challenges, TerrAscend achieved its ninth consecutive quarter of positive cash flow, generating $1.8 million from operations.
Strategic Financial Moves Support Expansion
The company recently secured a $140 million senior loan maturing in 2028, carrying a 12.75% interest rate, with no warrants or prepayment penalties. Executive chair Jason Wild emphasized TerrAscend's "ability to execute on growth strategy," including expansion into Ohio through a newly signed acquisition agreement. With $27.2 million in cash on hand, TerrAscend continues to pursue growth and strengthen its U.S. retail presence, particularly in Ohio and Maryland.
Price Action: TerrAscend shares saw a significant drop, falling 21.00% to close at $0.79,
Read Next: Donald Trump’s Evolving Stance On Marijuana: Is Cannabis Legalization Finally On His Agenda?
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving—don’t get left behind!
Curious about what’s next for the industry and how to stay ahead in today’s competitive market?
Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.
Secure your spot now before prices go up—this is where the biggest deals and connections happen!