TerrAscend Reports Q1 Revenues Of $53.4 Million, Net Loss Of $12.7 Million

TerrAScend Corp (CSE: TER) this morning reported its first quarter financial results, posting net sales of $53.4 million along with a net loss of $12.7 million for the period ended March 31, 2021. The company also reported adjusted EBITDA of $22.6 million.

Revenues increased 8% on a quarter over quarter basis from $49.6 million in Q4 2020, and 106% on a year over year basis. However, revenues still fell short of the consensus estimate of $57.41 million, while the company also came up short on EBITDA estimates of $22.93 million.

Cost of sales for the quarter came in at $18.4 million, resulting in a gross profit before fair value adjustments of $34.9 million. Operating expenses meanwhile came in $22.2 million, lead by general and administrative expenses of $15.8 million and share based payments of $4.2 million. The company posted an income from operations of $15.2 million.

This figure however was then impacted by several other expenses, including financing expenses of $7.2 million and loss on fair value of warrants of $5.4 million among other items, as well as an income tax expense of $9.2 million. The company ultimately posted a net loss of $12.7 million as a result.

The company this morning also raised its full year guidance for both net sales and adjusted EBITDA. The company now expects to generate net sales of US$300 million, and adjusted EBITDA of US$128 million for the full fiscal year, compared to US$290 million and $122 million, respectively.

TerrAscend Corp last traded at $13.93 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.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

TerrAscend Takes 12.5% More Equity On New Jersey License For $50 Million

TerrAscend Corp. (CSE: TER) announced today that it has completed the acquisition of an additional...

Friday, August 20, 2021, 11:44:00 AM

Will The Safe Banking Act Result In Progress For Cannabis? – The Daily Dive feat Jason Wild

Today on the Daily Dive, we get the opportunity to sit down with Jason Wild,...

Thursday, April 29, 2021, 01:30:00 PM

TerrAscend: Analyst Consensus Estimates For Q3 2021

TerrAscend Corp (CSE: TER) announced that they will be reporting their third quarter financials before...

Monday, November 15, 2021, 02:17:00 PM

TerrAscend Granted Court Approval For Settlement With PharmHouse

TerrAscend Corp (CSE: TER) has seen the court approve a settlement agreement related to PharmHouse...

Monday, March 15, 2021, 08:20:14 AM

TerrAscend Completes 80,000 Square Foot Expansion At New Jersey Operations

TerrAscend Corp (CSE: TER) has completed its expansion project within the state of New Jersey....

Monday, January 11, 2021, 07:51:20 AM