- Web earnings of $74.4 million, up 0.3% from $74.2 million within the 3rd quarter of 2024
- Gross benefit margin of fifty.2%, an building up of 140 foundation issues quarter-over-quarter
- Generated certain cashflow from operations within the quarter
- Fourth quarter and whole yr 2024 profits convention name scheduled for five p.m. ET on March 6, 2025
[PRESS RELEASE] – TORONTO, Jan. 31, 2025 – TerrAscend Corp., a number one North American hashish corporate, introduced initial and unaudited monetary effects for its quarter ended Dec. 31, 2024. All quantities are in U.S. greenbacks.
For the fourth quarter of 2024, the Corporate anticipates:
- Web earnings of $74.4 million, up 0.3% from $74.2 million within the 3rd quarter of 2024.
- Gross benefit margin of fifty.2%, up 140 foundation issues from 48.8% within the 3rd quarter of 2024.
- Common and Administrative bills reduced quarter-over-quarter.
- Generated certain cashflow from operations within the quarter.
“In spite of a difficult atmosphere, the industry carried out forward of our expectancies all over the fourth quarter of 2024, turning in certain sequential earnings enlargement with a ramification of gross margin to 50.2% and a discount in working bills,” TerrAscend Govt Chairman Jason Wild mentioned.
“With our fresh refinancing finished, which prolonged the majority of our debt maturities to past due 2028, the workforce used to be in a position to completely focal point on operational enhancements within the fourth quarter,” he mentioned. “We’re fascinated by a conceivable adult-use invoice passing in Pennsylvania, which can allow us to completely make the most of our massive scale 150K-square-foot cultivation and production facility within the state. We look ahead to the governor’s funds deal with subsequent week the place we consider he’ll define his most powerful case but for a state leisure program. The fourth quarter effects give us self belief in 2025 as we focal point on riding operational efficiencies and enlargement in our core industry whilst judiciously pursuing more than one greenfield enlargement alternatives at increasingly more horny costs.”
Fourth Quarter Operational Highlights
- Retained the No. 1 marketplace proportion place in New Jersey for all quarters of 2024, in keeping with BDSA.
- Grew earnings in Maryland for the fourth consecutive quarter and expanded gross margin to over 50%.
- Commenced preparation for Pennsylvania adult-use implementation, leveraging the corporate’s 150,000-square-foot cultivation and production facility and Apothecarium retail community.
- Signed Ohio Ratio Hashish deal, which is predicted to near within the first quarter of 2025, marking the corporate’s access into its 6th state.
Convention Name Main points:
The corporate will host a convention name to talk about the consequences for its fourth quarter and whole yr ended Dec. 31, 2024, at 5 p.m. ET on March 6, 2025. The corporate will file its monetary effects for the fourth quarter and whole yr 2024 the similar day after marketplace shut.