Marijuana operator TerrAscend signals profit, rising revenue for third quarter

It’s the FINAL COUNTDOWN on MJBizCon savings. Get your tickets by Thursday Sept. 28 for the 12th annual cannabis business conference, Nov. 29-Dec. 1 in Las Vegas.


North American marijuana operator TerrAscend released preliminary third-quarter financial results this week, indicating it expects to report a profit and strong revenue growth.

The Toronto- and New York-based company released unaudited financial results for its third quarter ended Sept. 30, showing:
  • Adjusted EBITDA of nearly 18 million Canadian dollars ($13.7 million), up 56% over the previous quarter.
  • Sales of CA$51 million, up 8% from the previous three-month period.

TerrAscend – a licensed producer in Canada, with operations in California, New Jersey and Pennsylvania – will report its financial results in advance of a Nov. 19 conference call.

Most of the company’s sales are in the United States.

For the quarter ended June 30, TerrAscend’s net sales in Canada were CA$5 million, compared with CA$42 million in the U.S.

Shares of TerrAscend trade on the Canadian Stock Exchange under the ticker symbol TER.