04:42 PM EST, 03/06/2025 (MT Newswires) -- (Corrects headline and first-paragraph to show the company's loss narrowed, not widened.)

TerrAscend ( TSNDF ) said Thursday afternoon its fourth-quarter loss narrowed and revenue fell year-over-year.

The cannabis company lost US$30.2 million in the period, compared with a loss of US$41.8 a year ago. Per share figures were not given.

Revenue stood at US$74.4 million, down 14% from US$86.6 million in the year-ago-quarter. FactSet projected US$73 million.

Adjusted earnings before interest, taxes, depreciation, and amortization for the quarter ended Dec. 31 was US$15.1 million, compared with US$19.6 million a year prior.

The company said business exceeded expectations in the quarter, executive Chairman Jason Wild said, adding that the growth was driven by achieving a top market share position in New Jersey, expanding in Maryland to over $70 million in Q4 revenue, and improving margins in Pennsylvania, especially with potential adult-use legislation.

TerrAscend ( TSNDF ) shares closed down $0.07 to $0.59 on the Toronto Stock Exchange.