TerrAscend raises 2023 revenue view to at least $317M from $305M

TerrAscend has raised its guidance for Net Revenue and Adjusted EBITDA from continuing operations for full year 2023 to at least $317 million and $63 million, respectively, representing year over year growth of 28% in Net Revenue and 62% in Adjusted EBITDA from continuing operations. Previous guidance was at least $305 million and $58 million, respectively. The Company also expects gross margin to exceed 50% and free cashflow from continuing operations1 to be positive, for the second half of the year. “We have good visibility and confidence in the remainder of the year as evidenced by the increase in our full year guidance,” stated Jason Wild, Executive Chairman of TerrAscend. “We expect to drive industry leading revenue growth, continued improvement across all P&L metrics, and positive free cashflow in the second half of the year.”