TSNDF
TerrAscend Corp.1.1300
+0.2310+25.7%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
420.07MP/E (TTM)
28.25Basic EPS (TTM)
0.04Dividend Yield
0%Recent Filings
8-K
10-Q
8-K
Q2 results and Michigan exit
TerrAscend reported Q2 2025 net revenue of $65 million from continuing operations, down 3.3% year-over-year, with gross profit margin expanding to 51.1% and adjusted EBITDA of $16 million at 24.6% margin. The company announced its Michigan exit to slash debt and sharpen focus on core Northeast markets, where retail revenue climbed sequentially amid expansions in New Jersey and Maryland. Post-quarter, it secured a $79 million non-dilutive term loan extending maturities to 2028, unlocking up to $35 million more for M&A. Cash flow stays positive—12 quarters running.
10-Q
Q2 FY2025 results
TerrAscend's Q2 revenue dipped 3% y/y to $65.0M while holding steady q/q, with gross profit flat at $33.2M and margins edging up to 51.1% on tighter costs. Operating income rose 3% y/y to $11.0M, but net loss from continuing operations narrowed just 2% to $6.4M as high taxes ($9.6M) offset gains. YTD, revenue fell 5% to $129.3M with operating income up 16% to $23.2M and diluted EPS improving to -$0.06 from -$0.07, reconciled to 296M shares. Free cash flow (derived) of $13.8M trailed last year's $29.2M amid $5.1M spent on the Ratio Cannabis acquisition in May for $10.1M (cash/stock/note), adding $2.8M goodwill and a 15-year license intangible. Cash stood at $26.7M against $212.1M debt, bolstered by a post-quarter $79M loan upsize. Michigan exit drags with a $35.0M impairment; federal illegality under the Controlled Substances Act looms large.
8-K
TerrAscend refinances debt
TerrAscend upsized its senior-secured term loan by $79 million on July 8, 2025, drawing the full amount to retire $68 million in Pelorus debt while earmarking the rest for growth initiatives. The amendment, led by FocusGrowth at 12.75% interest maturing August 2028, adds an undrawn $35 million facility for M&A and extends maturities to late 2028. Funds controlled by Executive Chairman Jason Wild chipped in $1.6 million. Debt refinanced cleanly.
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