TerrAscend Corp. Q3 2023 Financial Results, Net Revenue $89.2M, Adjusted EBITDA $24.2M
TerrAscend Corp. Q3 2023 Financial Results, Net Revenue $89.2M, Adjusted EBITDA $24.2M
TerrAscend Corp. (TSX:TSND) (OTCQX:TSNDF), reported its financial results for the third quarter that ended September 30, 2023.
TerrAscend Corp.（多倫多證券交易所股票代碼：TSND）（場外交易所股票代碼：TSNDF）公佈了截至2023年9月30日的第三季度財務業績。
Jason Wild, executive chairman of TerrAscend, stated: "We are pleased to deliver yet another record quarter, exceeding our internal forecasts across virtually all of our financial metrics. This is our 8th consecutive quarter of sequential Net Revenue growth and 5th consecutive quarter of positive Cash Flow from Continuing Operations."
TerrAscend執行董事長傑森·懷爾德表示：“我們很高興又一個創紀錄的季度業績，幾乎所有財務指標都超過了我們的內部預期。這是我們連續第八個季度淨收入連續增長，也是連續第五個季度來自持續經營的正現金流。”
See Also: EXCLUSIVE: Why TerrAscend's Success Doesn't Rely On Federal Cannabis Reform
另見：獨家：爲什麼 TerrAscend 的成功不依賴於聯邦大麻改革
Third Quarter 2023 Financial Highlights
2023 年第三季度財務摘要
- Net Revenue was $89.2 million, compared to $72.1 million in Q2 2023 and $66.2 million in Q3 2022, representing an increase of 23.7% sequentially and 34.7% year-over-year.
- Gross Profit Margin was 53.6%, compared to 50.2% in Q2 2023 and 47.0% in Q3 2022.
- GAAP Net loss from continuing operations was $8.4 million, compared to $12.9 million in Q2 2023 and $300.6 million in Q3 2022.
- EBITDA from continuing operations was $20.7 million, compared to $6.5 million in Q2 2023 and ($317.9) million in Q3 2022.
- Adjusted EBITDA from continuing operations was $24.2 million, an increase of 89% sequentially, compared to $12.8 million in Q2 2023 and $12.8 million in Q3 2022. Adjusted EBITDA Margin from continuing operations was 27.1%, compared to 17.8% in Q2 2023 and 19.3% in Q3 2022.
- 淨收入爲8,920萬美元，而2023年第二季度爲7,210萬美元，2022年第三季度爲6,620萬美元，環比增長23.7％，同比增長34.7％。
- 毛利率爲53.6％，而2023年第二季度爲50.2％，2022年第三季度爲47.0％。
- 來自持續經營業務的GAAP淨虧損爲840萬美元，而2023年第二季度爲1,290萬美元，2022年第三季度爲3.06億美元。
- 來自持續經營業務的息稅折舊攤銷前利潤爲2,070萬美元，而2023年第二季度爲650萬美元，2022年第三季度爲3.179億美元。
- 調整後的持續經營業務息稅折舊攤銷前利潤爲2,420萬美元，環比增長89％，而2023年第二季度的1,280萬美元和2022年第三季度的1,280萬美元。調整後的持續經營業務息稅折舊攤銷前利潤率爲27.1％，而2023年第二季度爲17.8％，2022年第三季度爲19.3％。
In Q3 2023, net cash from operating activities for continuing operations reached $9.4 million, contrasting with $1.8 million in Q2 2023 and $2.3 million in Q3 2022.
2023年第三季度，持續經營業務的經營活動淨現金達到940萬美元，而2023年第二季度爲180萬美元，2022年第三季度爲230萬美元。
Similarly, free cash flow from continuing operations amounted to $7.7 million in Q3 2023, compared to ($0.2) million in Q2 2023 and ($9.5) million in Q3 2022.
同樣，來自持續經營業務的自由現金流在2023年第三季度爲770萬美元，而2023年第二季度爲（20萬美元），2022年第三季度爲（950萬美元）。
"Sequentially, revenue grew at an industry-leading rate of 23.7%, gross margin expanded 340-basis points to 53.6% and Adjusted EBITDA from continuing operations grew 89%," said Wild. "Our free cash flow generation was driven by the conversion to adult use in Maryland, increased market share in New Jersey, margin expansion in Michigan, and a return to retail and wholesale growth in Pennsylvania. This momentum gives us visibility and confidence to raise our full-year revenue and Adjusted EBITDA from continuing operations guidance to $320 million and $73 million, respectively."
懷爾德說：“收入連續增長了行業領先的23.7％，毛利率增長了340個點子至53.6％，持續經營業務的調整後息稅折舊攤銷前利潤增長了89％。”“我們的自由現金流產生是由馬里蘭州向成人使用的轉換、新澤西州市場份額的增加、密歇根州的利潤擴張以及賓夕法尼亞州恢復零售和批發增長所推動的。這種勢頭爲我們提供了知名度和信心，使我們有信心將全年收入和調整後息稅折舊攤銷前利潤從持續經營預期分別提高到3.2億美元和7,300萬美元。”
TSNDF Price Action
TSNDF 價格走勢
TerrAscend's shares were trading down at 1.53% at $1.61 per share post-market closing on Thursday.
週四盤後TerrAscend的股價下跌1.53％，至每股1.61美元。
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Image by El Planteo
圖片由 El Planteo