
Proven Media
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Proven Media
@ProvenMedia
“Top 5 Most Powerful 🌿 PR Firm,” the Observer | “Star Makers,” NVM. Corporate Communications for the brightest stars: Companies, executives, brands & events.




$TSND.TO — TerrAscend Corp. | Q1 2026 Results Multi-state cannabis operator with retail + cultivation across PA, NJ, MD, OH, CA, plus Canadian retail. Reports in USD, results from continuing ops (Michigan classified as discontinued). 📊 Q1 2026 Highlights (continuing ops): • Revenue: $65.5M (+1.9% YoY, -0.9% QoQ) • Gross margin: 52.8% (vs 52.1% Q4, 53.9% Q1'25) • GAAP net loss: $(6.8M) • EBITDA: $17.3M • Adj. EBITDA: $17.4M (26.5% margin) • OCF: $8.7M — 15th straight positive quarter • Free cash flow: $7.8M — 11th straight positive quarter 💰 Balance Sheet: • Cash: $39.1M • Total debt: ~$223M • Repurchased 115K shares at avg $0.66 USD ⚡ Catalyst: • DOJ rescheduled state-licensed medical cannabis to Schedule III — eliminates 280E tax burden on medical sales • Broader rescheduling hearing set for June 29, 2026 • If adult-use also moves, opens door to NASDAQ/NYSE up-listing and lower cost of capital The headline is that 280E relief just landed. terrascend has been one of the few MSOs grinding out positive FCF every quarter for nearly 3 years, and the rescheduling shifts the math — cash that previously went to federal tax on medical revenue can now flow to the balance sheet. Adj EBITDA margin slipped 170bps YoY but still a healthy 26.5%, and the operational story (top-ranked stores in NJ, PA share gains, MD market share growth) remains intact. Full analysis: investorlens.io/stocks/TSND.TO #TSX #CanadianStocks #Cannabis #MSO #Schedule3 #FreeCashFlow














