TerrAscend Q2 Net Revenue Grows 12.7% YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
TerrAscend Corp. reported Q2 2023 financial results, with net revenue of $72.1 million, up 3.9% sequentially and 12.7% YoY. Gross profit was $36.2 million, up 6.8% sequentially and 50.8% YoY. The company reported a net loss from continuing operations of $12.9 million, compared to a loss of $19.2 million in Q1 2023. Adjusted EBITDA from continuing operations was $12.8 million, compared to $12.2 million in Q1 2023. The company also acquired four dispensaries in Maryland and listed on the TSX.
August 11, 2023 | 11:50 am
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Ascending
POSITIVE IMPACT
TerrAscend reported strong Q2 2023 results with significant YoY growth in net revenue and gross profit. The company also expanded its operations by acquiring four dispensaries in Maryland.
TerrAscend's strong Q2 2023 results and expansion of operations through acquisitions indicate a positive outlook for the company, which could lead to a potential increase in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100