TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) reported its third-quarter financial results Tuesday with net sales of $49.1 million, down by 16% from the previous quarter and up 29% year-over-year.
Third Quarter 2021 Financial Highlights
- Net loss amounted to $14.6 million, compared to net income of $62.3 million in the same quarter of 2020.
- Adjusted Gross Profit Margin1 of 46% compared to 59% in Q3 2020 and 61% in Q2 2021.
- Adjusted EBITDA of $10.5 million compared to $13.2 million in Q3 2020 and $24.3 million in Q2 2021.
- Adjusted EBITDA margin of 21% compared to 35% in Q3 2020 and 41% in Q2 2021.
- Cash flow from operations was a negative $1.2 million, compared to a loss of $16.9 million in the same period of last year;
- Cash balance of $103 million at quarter-end to support growth initiatives.
"I am pleased with the improvements made in Pennsylvania since we withdrew full year …