TerrAscend Extends Cash Flow Streak To 15 Quarters As Growth Returns, Shares Pop

Cannabis company TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) announced on Monday preliminary and unaudited first-quarter financial results, reporting positive operating cash flow for 15 consecutive quarters.

The North American cannabis company reported a slight quarterly dip in revenue to $65.5 million from $66.1 million. Year-over-year revenue increased 1.9%.

Gross margin was 52.8% for the first quarter of fiscal 2026, up from 52.1% in the prior quarter and down from 53.9% in the same period of last year. General and administrative expenses were flat quarter-over-quarter.

Jason Wild, the company’s executive chairman, signaled strong optimism about future growth.

“The business returned to year-over-year revenue growth from continuing operations, while gross margin and other key profitability metrics exceeded our targets for the quarter,” Wild said. “This positive operational momentum, combined with the recently completed rescheduling of medical cannabis, and the promise of further progress, has the team more excited than ever about the future.”

Wild highlighted that TerrAscend is positioned to deliver long-term value for shareholders, patients, and customers.

“We remain committed to executing on our business strategy, driving efficiency, profitability, and growth while continuing to generate cash flow across our core markets,” he said.

TerrAscend grew from a Canadian cannabis start-up to a large cannabis company in less than four years, and expanded south of the border in early 2019. In the US, the company established a presence in the U.S. through the $118.4-million acquisition of California-based retailer Apothecarium.

TSNDF Price Action

TerrAscend’s shares traded 9.24% higher at $0.7199 per share at the time of writing on Monday.