TerrAscend Cannabis Co. Achieves Another Quarter of Cash Flow Growth, Focuses On Strategic Acquisitions

TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) reported its third-quarter financial results on Thursday, touting its 13th consecutive quarter of positive cash flow from continuing operations and 9th consecutive quarter of positive free cash flow.

During the quarter, the Toronto-based North American cannabis company completed a $79 million non-dilutive refinancing of existing debt, along with an additional uncommitted term loan facility of up to $35 million for strategic mergers and acquisitions, the company said in a press release.

Jason Wild, TerrAscend’s executive chairman, said the company continues to “evaluate strategic opportunities through a disciplined M&A approach.”

“Our fundamentals are improving, our balance sheet remains strong with increased cash and no material debt maturities for several years, and we are well-positioned to benefit from potential state and federal regulatory developments,” Wild added.

Q3 2025 Financial Highlights

• Net revenue totaled $65.1 million, compared to $65.2 million in the corresponding period of fiscal 2024.
• Gross profit margin was 52.1%, compared to 51% in the same quarter of 2024.
• GAAP net loss from continuing operations was $9.9 million, compared to $15.8 million in the last year’s period.
• Adjusted EBITDA from continuing operations totaled $17 million, compared to $16.9 million in the third quarter of 2024.
• Net cash provided from continuing operations was $7.1 million, after net tax payments of $5 million during the quarter, in comparison to $6.1 million in the corresponding period of 2024.
• Free cash flow was $4.9 million, compared to $6.1 million in the third quarter of last year.

TSNDF Price Action

TerrAscend’s shares traded 2.79% lower at $0.57 per share at the time of writing on Friday.