10:18 AM EST, 11/06/2025 (MT Newswires) -- TerrAscend ( TSNDF ) on Thursday reported third-quarter GAAP net loss from continuing operations which narrowed and net revenue which missed analysts' estimates.

The company's third-quarter GAAP net loss from continuing operations was US$9.9 million, compared to a net loss of $15.8 million in the corresponding year-ago quarter.

Third-quarter net revenue was reported at $65.1 million, compared to $65.2 million in the year-ago quarter, missing consensus estimates compiled by FactSet of $66 million.

"Since announcing our decision to exit the Michigan market, we have made significant progress and remain on track to complete these divestitures by year-end," said TerrAscend's ( TSNDF ) Executive Chairman Jason Wild. "At the same time, we continue 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."

The company's shares were last seen down $0.05 to $0.92 on the Toronto Stock Exchange.

Price: 0.92, Change: -0.05, Percent Change: -5.15