TerrAscend Preliminary Q2 2023 Net Revenue Grows 12.7% YoY To $72.1M
Portfolio Pulse from Vuk Zdinjak
TerrAscend Corp. has released preliminary and unaudited financial results for Q2 2023, showing a 12.7% YoY increase in net revenue to $72.1M. The company's gross profit margin also increased to 50.2%. For the full year 2023, the company expects net revenue and adjusted EBITDA from continuing operations to be at least $305M and $58M respectively. The company has also acquired four dispensaries in Maryland and listed on the TSX.
August 04, 2023 | 9:07 am
News sentiment analysis
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POSITIVE IMPACT
TerrAscend's Q2 2023 results show strong growth, which could positively impact the company's stock price.
TerrAscend's strong Q2 2023 results, including a 12.7% YoY increase in net revenue and an increased gross profit margin, indicate a positive financial performance. This could lead to increased investor confidence and a potential rise in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
TerrAscend's strong Q2 2023 results and recent listing on the TSX could positively impact the company's stock price.
TerrAscend's strong Q2 2023 results and recent listing on the TSX indicate a positive financial performance and increased visibility. This could lead to increased investor confidence and a potential rise in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100