Company Overview:
TerrAscend provides quality products, brands, and services to the global cannabinoid market. The Company participates in the medical and legal adult use market in Canada and in US states where cannabis has been legalized for therapeutic or adult use. TerrAscend operates a number of synergistic businesses, including Arise Bioscience Inc., a manufacturer and distributor of hemp-derived products; Ascendant Laboratories Inc., a biotechnology and licensing company committed to the continuous improvement of cannabinoid expressing plants; and Solace RX Inc., a proposed Drug Preparation Premises (DPP) focused on the development of novel formulations and delivery forms.
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Key Share Information:
Current Share Price $9.75
Market Capitalization (in Millions) $632.61
Last Quarter (Share Data) 12/31/2018
Shares Outstanding (in Millions) 64.88
Options (in Millions) 8.47
Warrants (in Millions) 1.35
Fully Diluted (in Millions) 74.71
Enterprise Value (in MIllions) $641.91
TTM Revenue $8.62
TTM Growth Margin % -8.83%
TTM Operating Expenses $28.69
TTM OCF -$21.01
P/S TTM 73.38
P/S (Last Quarter Run Rate) 23.17
Key Balance Sheet Information (in Millions $CAD):
CYQ1'17 CYQ2'17 CYQ3'17 CYQ4'17 CYQ1'18 CYQ2'18 CYQ3'18 CYQ4'18
Cash $2.83 $1.53 $1.07 $51.82 $45.68 $26.12 $15.12 $21.77
Biological Assets $0.54 $0.33 $0.85 $0.55
Inventory $1.36 $5.33 $12.52 $12.31 $14.84
Total Assets $13.85 $15.46 $16.64 $69.06 $70.82 $68.22 $69.37 $88.98
Net Tangible Assets $13.85 $15.46 $16.64 $68.73 $70.50 $67.36 $67.87 $86.95
Intangibles/Goodwill $0.33 $0.31 $0.86 $1.50 $2.03
Total Liabilities $9.68 $12.07 $0.72 $1.69 $4.12 $3.92 $4.01 $31.08
Key Operating Items (Quarterly in Millions $CAD):
CYQ1'17 CYQ2'17 CYQ3'17 CYQ4'17 CYQ1'18 CYQ2'18 CYQ3'18 CYQ4'18
Revenue $0.01 $0.01 $0.01 $1.79 $6.83
Change in Fair Value of Biologial Assets $0.58 $0.10 $0.92 1.66
Gross Margin $0.16 -$0.93
Marketing and Sales $0.17 $0.55 $0.45 1.53
Investor Relations $0.01 $0.05 $0.22 $0.15 $0.07 $0.05 $0.04 0.22
Total Operating Expenses $0.72 $3.56 $1.49 $6.84 $2.51 $4.27 $2.22 19.69
Operating Cash Flow (Quarterly) -$0.90 $1.07 -$3.28 -$1.04 -$14.02 -$8.49 1.50
Investing Cash Flow (Quarterly) -$9.17 -$3.36 -$1.26 -$0.59 -$6.81 -$4.21 -8.74
Financing Cash Flow (Quarterly) $9.57 $1.00 $4.07 $52.37 $1.26 $1.71 13.89
Listing Statement
