TerrAscend Reports Record Third Quarter 2023 Results Net Revenue of $89.2 million, an increase of 34.7% year-over-year and 23.7% sequentially
Gross Profit margin of 53.6%, a 340-basis point sequential improvement from 50.2% in Q2 2023
Adjusted EBITDA from continuing operations1 of $24.2 million, an increase of 89% sequentially, representing a 27.1% Adjusted EBITDA margin1
Increased 2023 guidance for Net Revenue and Adjusted EBITDA from continuing operations1 to $320 million and $73 million versus previous guidance of at least $317 million and $63 million, representing 29% and 87% year-over-year growth, respectively
2023 guidance implies Q4 Net Revenue of $89 million and Adjusted EBITDA from continuing operations1 of $24 million
TORONTO, Nov. 09, 2023 (GLOBE NEWSWIRE) -- TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis operator, today reported its financial results for the third quarter ended September 30, 2023. All amounts are expressed in U.S. dollars and are prepared under U.S. Generally Accepted Accounting Principles (GAAP), unless indicated otherwise.
TerrAscend Reports Record Third Quarter 2023 Results and (globenewswire.com)