TerrAscend's Q3 Revenue Drops 16% Sequentially To $49M, Reports Net Loss of $14.6M

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 and 61% in Q2 2021.
  • Adjusted EBITDA of $10.5 million compared to $13.2 million in Q3 and $24.3 million in Q2 2021.
  • Adjusted EBITDA margin of 21% compared to 35% in Q3 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 …

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