Quarterly ResultMay 7, 2026, 07:42 AM
TerrAscend Q1 Net Loss Narrows to $8.0M; Revenue Up 1.9%
AI Summary
TerrAscend Corp. reported a significant reduction in its net loss for the first quarter of 2026, narrowing to $8.0 million from $12.3 million in the prior year. Revenue increased by 1.9% to $65.5 million, while gross profit remained stable at $34.6 million. The company also completed the acquisition of Union Chill Cannabis Company LLC for $13.0 million and is finalizing its exit from the Michigan market, which contributed to a reduced loss from discontinued operations.
Key Highlights
- Net loss significantly narrowed to $8.0 million from $12.3 million year-over-year, a 34.8% improvement.
- Net loss per share improved to $(0.03) from $(0.05) in the prior year period.
- Revenue increased by 1.9% to $65.5 million for the first quarter of 2026.
- Gross profit remained stable at $34.6 million, a slight decrease from $34.7 million.
- Acquired Union Chill Cannabis Company LLC for $13.0 million, including $9.0 million in convertible notes.
- Union Chill contributed $2.9 million in sales and $0.4 million in net income since its acquisition.
- Net cash provided by operating activities rose 6.0% to $8.5 million.
- Loss from discontinued Michigan operations decreased to $1.2 million from $4.6 million.