TerrAscend Announces Preliminary Q4 2024 Financial Results | How to buy Skittles Moonrock online

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• Net revenue of $74.4 million, up 0.3% from $74.2 million in the third quarter of 2024
• Gross profit margin of 50.2%, an increase of 140 basis points quarter-over-quarter
• Generated positive cashflow from operations in the quarter
• Fourth quarter and full year 2024 earnings conference call scheduled for 5 p.m. ET on March 6, 2025

[PRESS RELEASE] – TORONTO, Jan. 31, 2025 – TerrAscend Corp., a leading North American cannabis company, announced preliminary and unaudited financial results for its quarter ended Dec. 31, 2024. All amounts are in U.S. dollars.

For the fourth quarter of 2024, the Company anticipates:

• Net revenue of $74.4 million, up 0.3% from $74.2 million in the third quarter of 2024.
• Gross profit margin of 50.2%, up 140 basis points from 48.8% in the third quarter of 2024.
• General and Administrative expenses decreased quarter-over-quarter.
• Generated positive cashflow from operations in the quarter.

“Despite a challenging environment, the business performed ahead of our expectations during the fourth quarter of 2024, delivering positive sequential revenue growth with an expansion of gross margin to 50.2% and a reduction in operating expenses,” TerrAscend Executive Chairman Jason Wild said.

“With our recent refinancing completed, which extended the vast majority of our debt maturities to late 2028, the team was able to fully focus on operational improvements in the fourth quarter,” he said. “We are excited about a possible adult-use bill passing in Pennsylvania, which will enable us to fully utilize our large scale 150K-square-foot cultivation and manufacturing facility in the state. We look forward to the governor’s budget address next week where we believe he will outline his strongest case yet for a state recreational program. The fourth quarter results give us confidence in 2025 as we focus on driving operational efficiencies and growth in our core business while judiciously pursuing multiple greenfield expansion opportunities at increasingly attractive prices.”

Fourth Quarter Operational Highlights

• Retained the No. 1 market share position in New Jersey for all quarters of 2024, according to BDSA.
• Grew revenue in Maryland for the fourth consecutive quarter and expanded gross margin to over 50%.
• Commenced preparation for Pennsylvania adult-use implementation, leveraging the company’s 150,000-square-foot cultivation and manufacturing facility and Apothecarium retail network.
• Signed Ohio Ratio Cannabis deal, which is expected to close in the first quarter of 2025, marking the company’s entry into its sixth state.

Conference Call Details:

The company will host a conference call to discuss the results for its fourth quarter and full year ended Dec. 31, 2024, at 5 p.m. ET on March 6, 2025. The company will report its financial results for the fourth quarter and full year 2024 the same day after market close.