Business
TerrAscend Reports First Quarter 2025 Financial Results
Net Revenue of $71 million Gross Profit Margin of 51.8%, up 160 basis points from 50.2% i...
About this update from Terrascend Corp.
[{"type":"text","content":"TerrAscend Reports First Quarter 2025 Financial Results\n\n\n\n\n Net Revenue of $71 million\n \n\n\n\n Gross Profit Margin of 51.8%, up 160 basis points from 50.2% in the fourth quarter of 2024\n \n\n\n\n Net Cash provided by operations of $8.0 million and Free Cash Flow\n \n ¹\n \n of $5.5 million\n \n\n\n\n 11\n \n\n\n th\n \n\n\n consecutive quarter of positive Cash Flow from operations and 7\n \n\n\n th\n \n\n\n consecutive quarter of positive Free Cash Flow\n \n ¹\n \n\n\n Subsequent to quarter end, closed on acquisition of a dispensary in Ohio and signed definitive agreement to acquire a dispensary in New Jersey\n \n\n\n TORONTO, May 08, 2025 (GLOBE NEWSWIRE) --\n \n TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (TSX: TSND) (OTCQX: TSNDF)\n \n , a leading North American cannabis company, today reported its financial results for the first quarter ended March 31, 2025. All amounts are expressed in U.S. dollars and are prepared under U.S. Generally Accepted Accounting Principles (GAAP), unless indicated otherwise.\n \n\n\n First Quarter 2025 Financial Highlights\n \n\n\n\n\n Net Revenue\n \n was $71.0 million, compared to $74.4 million in Q4 2024, reflecting a 4.5% seasonal decline.\n \n\n\n Gross Profit Margin\n \n was 51.8%, up 160 basis points compared to 50.2% in Q4 2024.\n \n\n\n GAAP Net Loss\n \n was $12.3 million, compared to a net loss of $30.2 million in Q4 2024.\n \n\n\n EBITDA¹\n \n was $12.4 million, compared to an EBITDA loss of $30.6 million in Q4 2024.\n \n\n\n Adjusted EBITDA¹\n \n was $15.3 million, compared to $15.1 million in Q4 2024.\n \n\n\n Adjusted EBITDA Margin¹\n \n was 21.6%, compared to 20.3% in Q4 2024.\n \n\n\n Net Cash Provided by Operating Activities\n \n was $8.0 million, compared to $9.7 million in Q4 2024.\n \n\n\n Free Cash Flow¹\n \n was $5.5 million, compared to $5.0 million in Q4 2024.\n \n\n\n \"Despite a challenging industry environment, revenue performed in line with our guidance, while gross margin and EBITDA margin outperformed our expectations during the first quarter of 2025. Revenue totaled $71 million, a sequential decline of 4.5%, primarily due to seasonality, while gross profit margin increased to 51.8% and Adjusted EBITDA margin improved to 21.6%. These results were driven by strong revenue growth and margin expansion in Maryland, along w...