Business
TerrAscend Preannounces Strong 2020 Results - Full Year Net Sales of $198 Million and Adjusted EBITDA of $60 Million
TerrAscend Preannounces Strong 2020 Results - Full Year Net Sales of $198 Million and Adj...
About this update from Terrascend Corp.
[{"type":"text","content":"\n \n \n \n TerrAscend Preannounces Strong 2020 Results - Full Year Net Sales of $198 Million and Adjusted EBITDA of $60 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-TOP-COLOR:; BORDER-COLLAPSE: COLLAPSE; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; BORDER-RIGHT-COLOR:\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Fourth quarter net sales of\n \n $65 million\n \n representing growth of 28% quarter-over-quarter and 152% year-over-year\n \n \n \n \n Fourth quarter adjusted EBITDA of\n \n $26 million\n \n representing growth of 46% quarter-over-quarter\n \n \n \n \n Fourth quarter adjusted EBITDA margin expanded to 40% in Q4 from 35% in Q3 and 24% in Q2\n \n \n \n \n NEW YORK\n \n and\n \n TORONTO\n \n ,\n \n Feb. 19, 2021\n \n /CNW/ - TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced preliminary financial results for its fourth quarter and full year ending\n \n December 31\n \n , 2020.  All amounts are in Canadian dollars.  Based on a preliminary (unaudited) review, the Company anticipates:\n \n \n \n Fourth Quarter and Full Ye\n \n \n ar 2020 Financial Highlights:\n \n \n \n \n Full year net sales of\n \n $198 million\n \n and adjusted EBITDA of\n \n $60 million\n \n \n \n Fourth quarter net sales of\n \n $65 million\n \n representing growth of 28% quarter-over-quarter and 152% year-over-year\n \n \n Fourth quarter adjusted EBITDA of\n \n $26 million\n \n representing growth of 46% quarter-over-quarter\n \n \n Fourth quarter adjusted EBITDA margin of 40% expanding from 35% in Q3 and 24% in Q2\n \n \n \n \"Our fourth quarter results demonstrate robust sequential revenue growth and continued expansion of EBITDA margins, which reflect the strong fundamentals of our business,\" said\n \n Jason Ackerman\n \n , CEO and Executive Chairman of TerrAscend. \"Durin...