Overview

* TerrAscend ( TSNDF ) Q3 revenue of $65.1 mln missed analyst expectations

* Company reports Q3 net loss from continuing operations of $9.9 mln

* Completed $79 mln refinancing and had said it plans to exit Michigan market by year-end

Outlook

* Company evaluating strategic M&A opportunities with a disciplined approach

* TerrAscend ( TSNDF ) aims to benefit from potential regulatory changes

Result Drivers

* NORTHEAST MARKETS - Revenue stability supported by consistent performance in New Jersey, Maryland, and Pennsylvania

* REFINANCING - Completed $79 mln non-dilutive refinancing of existing debt for strategic M&A

* MARYLAND GROWTH - Maryland revenue increased 14.8% year-over-year with high gross margins

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $65.10 $66.03

Revenue mln mln (4

Analysts

)

Q3 EPS Miss -$0.08 -$0.02

(4

Analysts

)

Q3 Gross 52.10%

Margin

Q3 Net -$9.90

Income mln

from

Cont.

Ops

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the drug retailers peer group is "buy"

* Wall Street's median 12-month price target for Terrascend Corp ( TSNDF ) is C$2.00, about 51.5% above its November 5 closing price of C$0.97

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)