Canada · Delayed Price · Currency is CAD TerrAscend Earnings Call Transcripts
Fiscal Year 2026
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Revenue reached $65.5M in Q1 2026 with strong gross and EBITDA margins, driven by operational efficiencies and growth in core Northeast markets. Regulatory changes, including medical cannabis rescheduling, are expected to further boost profitability and strategic flexibility.
Fiscal Year 2025
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Q4 and full year 2025 saw strong margins, positive cash flow, and stable Adjusted EBITDA despite revenue headwinds. Expanded in New Jersey and Ohio, exited Michigan, and maintained disciplined M&A and capital allocation. Gross margins exceeded 52% for the year.
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Q3 2025 revenue was $65.1M, flat year-over-year, with improved gross and EBITDA margins and continued positive cash flow. Strategic exits and M&A, especially in New Jersey, are driving future growth, while the company remains well-positioned for regulatory changes and expansion.
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Exited Michigan to focus on core markets, reporting $65M Q2 revenue and improved gross margin. Strong performance in New Jersey, Maryland, and Pennsylvania, with continued positive cash flow and disciplined M&A. Debt maturities extended to 2028.
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The meeting, held virtually, covered director elections, auditor ratification, and approval of a stock option amendment for insiders. All proposals passed with the required majority, and no shareholder questions were raised during the proceedings.
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Q1 2025 saw revenue of $71M, gross margin expansion to 51.8%, and adjusted EBITDA of $15.3M, with continued positive cash flow and cost reductions. M&A activity remains robust, with new acquisitions in Ohio and New Jersey, and further expansion and margin improvements expected.
Fiscal Year 2024
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Q4 revenue reached $74.4M with gross margin expanding to 50.2%, and full year revenue was $306.7M, driven by strong performance in New Jersey and Maryland. The company expects further G&A reductions and continued margin strength in 2025, with expansion plans in Ohio and ongoing M&A activity.
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Q3 2024 saw strong market leadership in key states, with $74.2M revenue and 48.8% gross margin. Expansion into Ohio, a $140M refinancing, and a $10M buyback program highlight disciplined growth and capital allocation. Q4 revenue is expected flat to slightly down.
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Q2 2024 saw 7.5% revenue growth, 21.9% higher Adjusted EBITDA, and strong cash flow. The company maintained top market share in New Jersey, expanded in key states, and closed a $140M loan to fund growth and M&A. Gross margins are expected to remain 48–50% in Q3.
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The meeting, held virtually, covered director elections, auditor ratification, and a stock option extension for insiders. All proposals passed with the required shareholder approval, and no questions were raised by stakeholders.