TerrAscend Corp (OTCPK:TSNDF)
$ 0.7212 -0.0309 (-4.11%) Market Cap: 209.36 Mil Enterprise Value: 436.53 Mil PE Ratio: 0 PB Ratio: 1.08 GF Score: 72/100
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Q3 2024 Terrascend Corp Earnings Call Transcript

Nov 6, 2024 / 10:00 PM GMT
Release Date Price: $0.79 (-21.00%)

Key Points

Positve
  • TerrAscend Corp (TSNDF) maintained its #1 market share position in New Jersey, with top positions in multiple product categories.
  • The company reported its ninth consecutive quarter of positive cash flow from continuing operations and its fifth consecutive quarter of positive free cash flow.
  • TerrAscend Corp (TSNDF) announced a strategic entry into the Ohio market through the acquisition of a high-performing dispensary.
  • The company successfully closed a $140 million non-dilutive debt financing, providing financial flexibility for future growth.
  • TerrAscend Corp (TSNDF) initiated a $10 million stock buyback program, reflecting confidence in its future and commitment to enhancing shareholder value.
Negative
  • Net revenue for the third quarter decreased to $74.2 million from $77.5 million in the previous quarter, primarily due to declines in New Jersey and Michigan.
  • The company reported a net loss from continuing operations of $21.4 million, a significant increase from the $6.2 million loss in the previous quarter.
  • Wholesale revenue in New Jersey declined due to increased competition and a decrease in average order size.
  • Retail revenue in Pennsylvania declined by 11% year-over-year, indicating challenges in maintaining growth in this market.
  • Adjusted EBITDA from continuing operations decreased to $13.7 million from $15.6 million in the previous quarter, driven by lower revenue.


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

TSND.TO - Terrascend Corp
Q3 2024 Terrascend Corp Earnings Call
Nov 06, 2024 / 10:00PM GMT

=====================
Conference Call Participants
=====================
* Jason Wild
* Ziad Ghanem
* Keith Stauffer
* Frederico Yokota Gomes
* Eric Des Lauriers
* Yewon Kang
* Noel Atkinson
* Andrew Semple
* Michael Regan

=====================
Presentation
--------------------------------------------------------------------------------
Operator [1]
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Good afternoon. My name is Ina, and I will be your conference operator today. At this time, I would like to welcome everyone to TerrAscend's Third Quarter 2024 Financial Results Conference Call. Joining us for today's call is Jason Wild, Executive Chairman; Ziad Ghanem, President and Chief Executive Officer; and Keith Stauffer, Chief Financial Officer. Our remarks today include forward-looking statements, including statements with respect to the
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