Business
TerrAscend Reports First Quarter 2026 Financial Results
Net Revenue of $65.5 million and Gross Profit Margin of 52.8% for Q1 2026 Q1 2026 Net Cash Pr...
About this update from Terrascend Corp.
TerrAscend Reports First Quarter 2026 Financial Results Net Revenue of $65.5 million and Gross Profit Margin of 52.8% for Q1 2026 Q1 2026 Net Cash Provided from Continuing Operations of $8.7 million, representing 13.3% Operating Cash Flow Yield1 Q1 2026 Free Cash Flow1 of $7.8 million, representing 10.3% Free Cash Flow Yield1 15th Consecutive Quarter of Positive Cash Flow from Continuing Operations and 11th Consecutive Quarter of Positive Free Cash Flow1 TORONTO, May 07, 2026 (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 first quarter ended March 31, 2026. All amounts are expressed in U.S. dollars and are prepared under U.S. Generally Accepted Accounting Principles (GAAP), unless indicated otherwise. The following financial measures are reported as results from continuing operations unless otherwise noted, due to the Company’s previously stated intention to sell all of its Michigan assets, which are reported as discontinued operations effective as of the second quarter ended June 30, 2025. All historical periods have been restated accordingly. First Quarter 2026 Financial Highlights Net Revenue of $65.5 million, compared to $64.3 million in the first quarter of 2025Gross Profit Margin of 52.8%GAAP Net Loss from continuing operations was $6.8 millionEBITDA from continuing operations1 was $17.3 millionAdjusted EBITDA from continuing operations1 was $17.4 million or 26.5% of net revenueNet Cash provided from continuing operations was $8.7 millionFree Cash Flow1 was $7.8 million “The business returned to year-over-year revenue growth from continuing operations, while gross margins, Adjusted EBITDA margins and other key profitability metrics grew sequentially and exceeded our targets for the quarter. This positive operational momentum, combined with the recently completed rescheduling of medical cannabis, and the promise of further progress, has the team more excited than ever about our future,” said Jason Wild, Executive Chairman of TerrAscend. “We remain committed to executing on our business strategy, driving efficiency, profitability, and growth while continuing to generate positive cash flow. Together with our strong balance sheet and disciplined approach to capital allocatio...