The following is a summary of the TerrAscend Corp. (TSNDF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• TerrAscend reported Q3 2024 net revenue of $74.2 million, a slight decrease from $77.5 million in Q2 2024.

• The company maintained a strong gross profit margin of 48.8%.

• Adjusted EBITDA from continuing operations was $13.7 million, with net loss from continuing operations at $21.4 million mainly due to one-time non-cash accounting items.

Business Progress:

• TerrAscend continues to dominate market share in New Jersey and plans expansion in Ohio with the acquisition of a high-performing dispensary.

• The company completed its ninth consecutive quarter of positive cash flow and fifth of positive free cash flow.

• Following M&A interests, TerrAscend is pursuing acquisitions and operational expansions in Maryland, Pennsylvania, and Ohio.

Opportunities:

• The company aims to capitalize on new market opportunities such as Ohio and enhance operations and profitability by leveraging its existing Midwest infrastructure.

• Regulatory reforms and potential cannabis rescheduling could further enhance business operations.

Risks:

• TerrAscend faces risks from increased market competition in key states, which affects wholesale and retail revenues.

• Regulatory outcomes, such as the pending DEA hearing on cannabis rescheduling, could impact operations.

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