TerrAscend To See Top-Line & Margin Improvement In 2022, Analyst's Thoughts Post Q1 Earnings

TerrAscend Corp. (CSE: TER)(OTCQX: TRSSF) reported its first-quarter financial results late Thursday, reporting net sales of $49.7 million, up 1% sequentially.

The gross profit margin was 30.5% for the period compared to 42.3% in the prior quarter. The adjusted gross profit margin was 38.4% versus 49.8% in the fourth quarter of fiscal 2021.

Jason Wild, the company's executive chairman, said revenue and margins were impacted by a mandatory recall of hundreds of different vape products in Pennsylvania in February and front-loaded operating costs in prior to the launch of the recreational marijuana market.

"We expect revenue and margin to increase materially in the second quarter and beyond," Wild stated. "The strategic decisions and investments we have made over the last three years position …

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