TerrAscend Reports Preliminary Fourth Quarter Revenues Of $65.0 Million

It looks as if TerrAscend Corp (CSE: TER) is looking to stop the slow bleed in its equity. The company this morning “preannounced” its fourth quarter and full year 2020 financial results, with the company reporting net sales of $65.0 million for the quarter and $198 million for the full fiscal year.

Released on a preliminary basis, the net sales for the quarter represent growth of 27.5% compared to the third quarters revenue figure of $51.0 million. Year over year, revenues were up from $84.9 million, a 133% increase.

Adjusted EBITDA meanwhile was reported as being $26.0 million for the fourth quarter, and $60 million for the full fiscal year, while margins in the fourth quarter were stated as being 40%.

Guidance for 2021 of net sales between $360 million to $380 million was also reiterated, along with adjusted EBITDA of $140 million to $160 million.

Full financial results are slated to be released March 23, 2021.

TerrAscend Corp last traded at $17.00 on the CSE.

Information for this briefing was found via Sedar and TerrAscend Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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