TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) reported Wednesday its financial results for the first quarter of 2021, highlighting a substantial cash balance of $234 million.
In the first three months of the fiscal year, net sales amounted to $53.4 million, up by 106% year-over-year.
The North American cannabis company also raised its full-year 2021 guidance for net sales to over $300 million while expecting adjusted EBITDA to exceed $128 million.
"I'm pleased with the strong results our team has delivered to begin the year," said TerrAscend executive chairman Jason Wild, highlighting strong revenue growth, margin expansion and cash generation over the period.
Q1 2021 Financial Highlights
- Adjusted gross profit margin (non-IFRS measure, calculated …