Terrascent Stock Price, News & Analysis

TerrAscend (OTCQX: TSNDF), a leading North American cannabis company, has secured a $79 million non-dilutive debt financing through a senior secured syndicated term loan. The transaction, led by FocusGrowth Asset Management, includes using $68 million to retire existing debt, with the remainder allocated for future growth initiatives.

The loan carries a 12.75% interest rate and matures in August 2028, with no prepayment penalties. Additionally, an uncommitted term loan facility of up to $35 million will be available for future M&A opportunities. The financing includes insider participation from Executive Chairman Jason Wild, who invested approximately $1.6 million as part of the loan syndicate.

TerrAscend (OTCQX: TSNDF) has announced its strategic decision to exit the Michigan cannabis market, planning to divest all Michigan assets including four cultivation and processing facilities, twenty retail dispensaries, and associated real estate. The exit is expected to be completed in the second half of 2025.

The company will focus on its core northeastern U.S. markets across five states (New Jersey, Maryland, Pennsylvania, Ohio, and California) and Toronto, Ontario, operating nineteen dispensaries and four cultivation and processing facilities. The strategic move will result in a 21% reduction in workforce, affecting approximately 250 employees from its 1,200-person workforce.

Net proceeds from the Michigan asset sales will be used to pay down existing company debt. The Michigan operations will be reported as discontinued operations starting from Q2 2025. The company expects this strategic move to enhance its financial profile, including improvements in gross margin, adjusted EBITDA, and cash flow conversion.

TerrAscend (OTCQX: TSNDF), a leading North American cannabis company, announced the results of its annual general meeting held on June 24, 2025. Shareholders approved three key resolutions: the re-election of five directors with strong approval rates above 97%, the re-appointment of MNP LLP as auditors with 99.39% approval, and the modification of exercise prices for 3.7M insider stock options with 79.58% support.

Notable director re-elections include Jason Wild receiving the highest approval at 99.61%, while Kara DioGuardi received 97.96% approval. The stock option modification resolution, which affects insider holdings, passed despite a more significant opposition of 20.42%.

TerrAscend announced that CFO Keith Stauffer will depart on July 18, 2025, to pursue opportunities outside the cannabis industry. Alisa Campbell, current SVP of Corporate Finance & Accounting, will serve as interim CFO, reporting to CEO Ziad Ghanem. Campbell, who joined in 2020, brings over 20 years of financial leadership experience and has been instrumental in building TerrAscend's financial infrastructure. Stauffer, who served for five years, strengthened the company's financial foundation and implemented industry-leading controls. The company has initiated a comprehensive search for a permanent CFO.

TerrAscend (TSNDF) reported its Q1 2025 financial results with net revenue of $71.0 million, down 4.5% from Q4 2024 due to seasonality. The company achieved a gross profit margin of 51.8%, up 160 basis points from Q4 2024. Despite posting a GAAP net loss of $12.3 million, TerrAscend demonstrated strong operational performance with Adjusted EBITDA of $15.3 million (21.6% margin) and positive free cash flow of $5.5 million. The company maintained its leadership in New Jersey, improved market share in Maryland, and expanded operations through strategic acquisitions, including a new dispensary in Ohio and a pending acquisition in New Jersey. TerrAscend's strong balance sheet, with $29.4 million in cash, over $150 million in owned real estate, and no significant debt maturities until 2028, positions it well for future growth.

TerrAscend (TSNDF) has completed its acquisition of Ratio Cannabis LLC, a cannabis dispensary in Goshen Township, Ohio. This strategic move marks TerrAscend's entry into its sixth U.S. state and expands its retail footprint to 39 dispensaries across six U.S. states and Canada. The acquired dispensary generates $9 million in annualized revenue and enjoys a competitive advantage with no competition within a 20-mile radius.

The acquisition is expected to be immediately accretive to EBITDA and cashflow. TerrAscend plans to continue its expansion in Ohio through additional dispensary acquisitions, up to the state's limit of eight dispensaries.

TerrAscend (TSX: TSND) (OTCQX: TSNDF) has signed an agreement to acquire Union Chill Cannabis Company, a single dispensary operator in Hunterdon County, New Jersey. The acquisition, pending regulatory approval, will mark TerrAscend's fourth dispensary in New Jersey. Union Chill generates over $11 million in annualized revenue and is expected to be immediately accretive to TerrAscend's EBITDA and cashflow.

The strategic acquisition will allow TerrAscend to introduce its premium brand portfolio, including Kind Tree, Legend, Valhalla, Cookies, and Wana. The company plans to sign multiple additional transactions in New Jersey by the end of 2025 and is expanding its cultivation and manufacturing capacity at its Boonton facility. Post-acquisition, TerrAscend's retail footprint will expand to 39 dispensaries across five U.S. states and Canada.

TerrAscend (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, has scheduled its first quarter 2025 earnings conference call for Thursday, May 8, 2025 at 5:00 p.m. Eastern Time. The company will release its Q1 2025 financial results after market close on the same day.

The earnings call will be accessible via webcast and telephone dial-in, with replay options available until May 22, 2025. Investors and interested parties can join through the webcast link or by calling 1-888-510-2154, with replay access through 1-289-819-1450 or 1-888-660-6345 using entry code 76466#.

TerrAscend (TSNDF) reported its Q4 and full year 2024 financial results, with Q4 net revenue reaching $74.4 million, a slight increase of 0.3% from Q3. The company achieved a gross profit margin of 50.2% in Q4, up 140 basis points from Q3.

For full year 2024, net revenue was $306.7 million, down 3.3% from 2023, with an adjusted EBITDA of $60.7 million. The company maintained positive cash flow for the 10th consecutive quarter, generating $38 million in operating cash flow and $28.6 million in free cash flow for 2024.

Notable highlights include:

• Maintained #1 market share position in New Jersey throughout 2024
• Improved Maryland operations from negligible revenue to $70 million Q4 run rate
• Recorded Q4 GAAP net loss of $30.2 million, including $45.4 million non-cash impairment charge related to Michigan business
• Completed non-dilutive debt financing, extending majority of debt maturities to 2028
• Initiated first-ever share repurchase program in August 2024