Consistent Cash Flow Generation
TerrAscend reported its 13th consecutive quarter of positive cash flow from continuing operations and its 9th consecutive quarter of positive free cash flow, with $7.1 million generated from operations this quarter.
Strong Performance in Key Markets
TerrAscend maintained a leadership position in New Jersey with stable retail and wholesale revenue, while Maryland generated another record revenue quarter, outperforming the market's 2% decline in sales.
Operational Efficiency Improvements
Gross margin improved to 52.1%, up 110 basis points year-over-year, and adjusted EBITDA margin increased to 26.1%, reflecting enhanced operational efficiencies.
Strategic M&A and Financial Positioning
The company completed a $79 million non-dilutive upsizing to its senior secured syndicated term loan and has access to an additional $35 million for strategic M&A, extending debt maturity to late 2028.