TerrAscend Corp (TSX:TSND)

Q1 2025 Terrascend Corp Earnings Call Transcript

May 8, 2025 / 09:00 PM GMT

Release Date Price: C$0.51

Transcript 8-K10-Q

Key Points

Positve

TerrAscend Corp (TSNDF) achieved a gross profit margin of 51.8% in Q1 2025, marking a 160 basis point improvement sequentially.
The company generated positive operating cash flow of $8 million and positive free cash flow of $5.5 million, marking the 11th and 7th consecutive quarters of positive cash flow, respectively.
TerrAscend Corp (TSNDF) has demonstrated consistent delivery of positive free cash flow for seven consecutive quarters.
The company has a strong M&A strategy, with recent acquisitions in Ohio and New Jersey expected to enhance profitability and market presence.
TerrAscend Corp (TSNDF) has a robust pipeline of acquisition opportunities and plans to expand its retail footprint in key states like New Jersey and Ohio.

Negative

Revenue for Q1 2025 totaled $71 million, a 4.5% decrease sequentially, largely due to seasonality.
Retail revenue decreased 6.4% sequentially, and wholesale revenue was flat, indicating challenges in maintaining growth momentum.
The company reported a GAAP net loss of $12.3 million for Q1 2025, although this was an improvement from the previous quarter.
TerrAscend Corp (TSNDF) faces a challenging industry environment with pressures from new retail openings and market saturation.
The company is cautious about expanding in Michigan due to the challenging market conditions and is not ready to scale up operations until more stability is achieved.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TSND.TO - Terrascend Corp
Q1 2025 Terrascend Corp Earnings Call
May 08, 2025 / 09:00PM GMT

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Presentation
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Of future performance.

Additional information regarding these factors appears under the heading risk factor in the company's form 10K.

With the Security and exchange commission or the.

And subsequent SEC filings which are available at www.sec.gov on Cedar Plus and the company's website at www.erraan.com.

The forward-looking statements in this call speak only of today's date, and the company undertakes no obligation to update or revise any of these statements.

During today's call, the company will present both GAAP and non-gap financial measures.

A reconciliation of non-gap to GAAP measures is included in today's earnings, press release, and our quarterly report for form 0Q from the

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