Quarterly ResultMay 7, 2026, 07:51 AM
TerrAscend Q1 Revenue $65.5M; Medical Cannabis Rescheduled to Schedule III
AI Summary
TerrAscend Corp. reported first-quarter 2026 financial results with net revenue of $65.5 million, a 1.9% increase year-over-year from continuing operations. The company achieved $17.4 million in Adjusted EBITDA and maintained positive cash flow for the 15th consecutive quarter. A significant subsequent event was the U.S. Department of Justice's reclassification of medical cannabis to Schedule III, eliminating the 280E tax burden, which is expected to enhance profitability and improve the balance sheet.
Key Highlights
- Medical cannabis reclassified to Schedule III, eliminating the 280E tax burden.
- Net Revenue from continuing operations rose 1.9% YoY to $65.5 million.
- Adjusted EBITDA from continuing operations was $17.4 million, or 26.5% of net revenue.
- Net Cash provided from continuing operations was $8.7 million.
- Free Cash Flow was $7.8 million, marking 11th consecutive positive quarter.
- Gross Profit Margin from continuing operations was 52.8%.
- Launched Tyson 2.0 brand into Pennsylvania and Maryland.
- Eric Jackson appointed Chief Financial Officer in April 2026.