Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Ira Duarte was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 29
TerrAscend Corp. Provides Earnings Guidance for the First Quarter Ended March 31, 2026 TerrAscend Corp. provided earnings guidance for the first quarter ended March 31, 2026. For the quarter, the company anticipates Net Revenue of $65.5 million, compared to $66.1 million in the fourth quarter of 2025 and $64.3 million in the first quarter of 2025. Announcement • Apr 27
TerrAscend Corp. to Report Q1, 2026 Results on May 07, 2026 TerrAscend Corp. announced that they will report Q1, 2026 results Pre-Market on May 07, 2026 Announcement • Apr 17
TerrAscend Corp Appoints Eric Jackson as Chief Financial Officer, Effective April 27, 2026 TerrAscend Corp. announced the appointment of Eric Jackson as Chief Financial Officer (“CFO”), effective April 27, 2026. Mr. Jackson brings more than two decades of finance and operational leadership experience across retail, consumer, and manufacturing sectors. Most recently, he served for over eight years as Executive Vice President and Chief Financial Officer of American Signature Inc., a multi-location, omnichannel retailer where Mr. Jackson oversaw finance, accounting, treasury, analytics, IT, real estate, and supply chain functions.Prior to American Signature, Mr. Jackson spent more than 14 years at L Brands, a publicly traded specialty retailer whose portfolio included Victoria’s Secret, PINK, Bath & Body Works, La Senza, and Henri Bendel. He held senior leadership roles across finance and operations, supporting its large-scale retail and merchandising businesses. Over the course of his career, Mr. Jackson has driven operational transformation, optimized cost structures, strengthened liquidity management, improved capital efficiency, and streamlined financial and operational processes to support long-term value creation. Mr. Jackson holds a Bachelor of Science in Business, from Miami University and a Master of Business Administration from The Ohio State University. Announcement • Mar 17
TerrAscend Corp., Annual General Meeting, Jun 09, 2026 TerrAscend Corp., Annual General Meeting, Jun 09, 2026. Announcement • Feb 10
TerrAscend Corp. to Report Q4, 2025 Results on Mar 12, 2026 TerrAscend Corp. announced that they will report Q4, 2025 results After-Market on Mar 12, 2026 Announcement • Oct 07
TerrAscend Corp. to Report Q3, 2025 Results on Nov 06, 2025 TerrAscend Corp. announced that they will report Q3, 2025 results After-Market on Nov 06, 2025 Announcement • Aug 20
TerrAscend Corp. (TSX:TSND) announces an Equity Buyback for 10,000,000 shares, representing 3.27% for $10 million. TerrAscend Corp. (TSX:TSND) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares, representing 3.27% of its issued share capital, for $10 million. All shares acquired will be returned to treasury and cancelled. The program ends no later than August 21, 2026. As of August 14, 2025, the company had 306,240,023 shares outstanding. Announcement • Jun 03
TerrAscend Corp. Announces Executive Changes, Effective July 18, 2025 TerrAscend Corp. announced that Keith Stauffer, Chief Financial Officer, will be departing the Company on July 18, 2025, to pursue a career opportunity outside of the cannabis industry. Mr. Stauffer will remain in his role through the transition period to ensure a smooth handover. Effective upon his departure, Alisa Campbell, currently Senior Vice President, Corporate Finance & Accounting, will assume leadership of the Company’s accounting and finance function on an interim basis, reporting to Ziad Ghanem, President and Chief Executive Officer. A comprehensive search for a permanent CFO is underway. Ms. Campbell, who joined TerrAscend in 2020, brings over 20 years of financial leadership experience. She worked closely with Mr. Stauffer and was integral in building the Company’s financial infrastructure, including the Company’s recent ERP implementation. Ms. Campbell has led many areas of financial management at the Company, including accounting, reporting, tax, treasury, FP&A, and operations. Announcement • May 07
TerrAscend Corp. (TSX:TSND) agreed to acquire Union Chill Cannabis Co LLC. TerrAscend Corp. (TSX:TSND) agreed to acquire Union Chill Cannabis Co LLC on May 6, 2025. The acquisition is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis. The closing remains subject to regulatory approval. Announcement • Apr 03
TerrAscend Corp. to Report Q1, 2025 Results on May 08, 2025 TerrAscend Corp. announced that they will report Q1, 2025 results After-Market on May 08, 2025 Announcement • Apr 02
TerrAscend Corp., Annual General Meeting, Jun 24, 2025 TerrAscend Corp., Annual General Meeting, Jun 24, 2025. Announcement • Jan 31
TerrAscend Corp. to Report Q4, 2024 Results on Mar 06, 2025 TerrAscend Corp. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Mar 06, 2025 Announcement • Nov 27
TerrAscend Corp. Appoints Lynn Gefen as Chief People Officer TerrAscend Corp. announced the appointment of Lynn Gefen as Chief People Officer in addition to her existing role as Chief Legal Officer and Corporate Secretary, effective November 12, 2024. Prior to her roles at TerrAscend, Ms. Gefen served as Deputy General Counsel, Chief Risk and Compliance Officer, and Assistant Secretary at HomeServe, a publicly traded, independent provider of home repair service solutions. In addition to her roles at HomeServe, Ms. Gefen has worked for Diageo North America, a global leader in beverage alcohol, focusing on regulatory matters, privacy, and compliance, and for Citrix Systems, a multinational cloud computing and virtualization technology company, where she led a team with global responsibility for corporate and compliance matters including securities, commercial transactions, litigation, governance, and employment. Ms. Gefen began her legal career as an associate at Thacher Proffitt & Wood and Holland & Knight. Ms. Gefen received a J.D. from American University and a Bachelor of Arts from the University of Florida. Reported Earnings • Nov 08
Third quarter 2024 earnings released: US$0.079 loss per share (vs US$0.037 loss in 3Q 2023) Third quarter 2024 results: US$0.079 loss per share (further deteriorated from US$0.037 loss in 3Q 2023). Revenue: US$74.2m (down 17% from 3Q 2023). Net loss: US$23.1m (loss widened 118% from 3Q 2023). Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. Announcement • Oct 08
TerrAscend Corp. to Report Q3, 2024 Results on Nov 06, 2024 TerrAscend Corp. announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Announcement • Oct 02
TerrAscend Corp. announced that it has received $140 million in funding from Wdb Holding Ca, Inc., Wdb Holding PA Inc, FocusGrowth Asset Management, LP, Hempaid, LLC, Moose Curve Holdings, LLC and other investors On September 30, 2024, TerrAscend Corp. closed the transaction. As on the same day, the company has received $26 million in it's second and final tranche. New Risk • Sep 11
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$80m Forecast net loss in 1 year: US$28m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$28m net loss next year). New Risk • Aug 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Announcement • Aug 21
TerrAscend Corp. (TSX:TSND) announces an Equity Buyback for 10,000,000 shares, representing 3.43% for $10 million. TerrAscend Corp. (TSX:TSND) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares, representing 3.43% of its issued share capital, for $10 million. All shares acquired will be returned to treasury and cancelled. The program ends no later than August 21, 2025. As of August 16, 2024, the company had 291,513,055 shares outstanding. Reported Earnings • Aug 09
Second quarter 2024 earnings released: US$0.028 loss per share (vs US$0.055 loss in 2Q 2023) Second quarter 2024 results: US$0.028 loss per share (improved from US$0.055 loss in 2Q 2023). Revenue: US$77.5m (up 7.5% from 2Q 2023). Net loss: US$8.18m (loss narrowed 46% from 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. New Risk • Jul 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Announcement • Jul 11
TerrAscend Corp. to Report Q2, 2024 Results on Aug 08, 2024 TerrAscend Corp. announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 New Risk • Jun 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Shareholders have been diluted in the past year (5.0% increase in shares outstanding). New Risk • Jun 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Buy Or Sell Opportunity • May 18
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.9% to €1.62. The fair value is estimated to be €1.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 4.9% in a year. Earnings are forecast to grow by 87% in the next year. Reported Earnings • May 10
First quarter 2024 earnings released: US$0.059 loss per share (vs US$0.08 loss in 1Q 2023) First quarter 2024 results: US$0.059 loss per share (improved from US$0.08 loss in 1Q 2023). Revenue: US$80.6m (up 16% from 1Q 2023). Net loss: US$17.1m (loss narrowed 20% from 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Announcement • Apr 26
Terrascend Corp. Launches Legend Mini Pre-Roll Packs in New Jersey TerrAscend Corp. announced that Legend will launch its first mini pre-roll pack. Beginning April 26, these bundles will be available exclusively at Apothecarium dispensaries in New Jersey while landing across the rest of the New Jersey market starting April 29. Adult-use consumers and patients searching for an alternative to the traditional pre-roll can embark on their next unforgettable cannabis adventure with any one of the brand's convenient packs, including Energized Legend (Sativa), Grounded Legend (Hybrid) or Zen Legend (Indica). Each set contains eight 0.375g pre-rolls with blends combining two to three strains, bringing out richer and more distinct terpene profiles. The Legend mini pre-roll collection builds upon TerrAscend's commitment to providing patients and adult-use consumers across New Jersey with innovative and carefully crafted cannabis products to enhance the everyday. The Company operates a cultivation and manufacturing facility in Boonton, New Jersey, and distributes its products via wholesale throughout the state in more than 100 dispensaries in addition to running its own three retail locations: Apothecarium Lodi, Apothecarium Maplewood, and Apothecarium Phillipsburg. Announcement • Apr 05
TerrAscend Corp. to Report Q1, 2024 Results on May 09, 2024 TerrAscend Corp. announced that they will report Q1, 2024 results After-Market on May 09, 2024 New Risk • Mar 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Reported Earnings • Mar 15
Full year 2023 earnings released: US$0.33 loss per share (vs US$1.24 loss in FY 2022) Full year 2023 results: US$0.33 loss per share (improved from US$1.24 loss in FY 2022). Revenue: US$317.3m (up 28% from FY 2022). Net loss: US$91.1m (loss narrowed 70% from FY 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Announcement • Feb 21
TerrAscend Corp. to Report Fiscal Year 2023 Results on Mar 14, 2024 TerrAscend Corp. announced that they will report fiscal year 2023 results After-Market on Mar 14, 2024 Announcement • Jan 24
TerrAscend Corp. Announces the Expansion of its Valhalla Product Offering to Include One of the First 100Mg Edibles in the Keystone State TerrAscend Corp. announced the expansion of its Valhalla product offering to include one of the first 100mg edibles in The Keystone State. Valhalla's 100mg quick-acting, high-potency troches will land on store shelves on February 2nd. The Valhalla Extra Strength Troches will be available at all Apothecarium locations and additional dispensaries throughout Pennsylvania. The innovative Valhalla Troches first debuted in Pennsylvania last fall, quickly becoming a patient favorite. Currently available in 5mg, 10mg, and 50mg of THC flavor-forward varieties, including Blue Raspberry (Indica), Orange (Sativa), and Watermelon (Hybrid), Valhalla Troches are supplied in convenient, resealable packaging optimal for patients on the go. The new 100mg troches will be available in Grape (Indica), Pineapple (Sativa), and Green Apple (Hybrid). New Risk • Jan 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Shareholders have been diluted in the past year (4.7% increase in shares outstanding). New Risk • Dec 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Announcement • Nov 11
TerrAscend Corp. Raises Earnings Guidance for 2023 TerrAscend Corp. is raising its outlook for Net Revenue and Adjusted EBITDA from continuing operations for 2023 to $320 million and $73 million, respectively, representing year-over-year growth of 29% in Net Revenue and 87% in Adjusted EBITDA from continuing operations, respectively. The full year 2023 increase in guidance implies 2023 fourth quarter Net Revenue of $89 million and Adjusted EBITDA from continuing operations1 of $24 million. Announcement • Oct 24
TerrAscend Corp. to Report Q3, 2023 Results on Nov 09, 2023 TerrAscend Corp. announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 New Risk • Sep 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). New Risk • Aug 15
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$342m Forecast net loss in 1 year: US$38m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$38m net loss next year). Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • Aug 11
Second quarter 2023 earnings released: US$0.055 loss per share (vs US$0.052 profit in 2Q 2022) Second quarter 2023 results: US$0.055 loss per share (down from US$0.052 profit in 2Q 2022). Revenue: US$72.1m (up 11% from 2Q 2022). Net loss: US$15.0m (down 213% from profit in 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. New Risk • Aug 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$311m Forecast net loss in 2 years: US$6.4m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$6.4m net loss in 2 years). Shareholders have been diluted in the past year (13% increase in shares outstanding). Announcement • Aug 03
TerrAscend Corp. to Report Q2, 2023 Results on Aug 10, 2023 TerrAscend Corp. announced that they will report Q2, 2023 results After-Market on Aug 10, 2023 Announcement • Jul 11
TerrAscend Corp. (CNSX:TER) acquired Herbiculture Inc. for $8.25 million. TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire Herbiculture Inc. for $8.25 million on June 29, 2023. Under the terms of the agreement, TerrAscend will acquire Herbiculture for total consideration of $8.25 million (the "Transaction"), composed of $3 million in cash, with the remainder in a seller’s note. The transaction, which is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis, has already been approved by the Maryland Cannabis Administration and is expected to close in the coming days. Herbiculture has a net revenue run rate of approximately $4.3 million.
TerrAscend Corp. (CNSX:TER) completed the acquisition of Herbiculture Inc. on July 10, 2023. New Risk • Jul 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$33m net loss next year). Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Jun 29
TerrAscend Corp. (CNSX:TER) completed the acquisition of Derby 1, LLC. TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire Derby 1, LLC for $22.1 million on June 7, 2023. Under the terms of the agreement, TerrAscend will acquire Peninsula Alternative Health for total consideration of $22.1 million, including $1.5 million in cash, with the remainder in a combination of existing debt, a seller’s note, and stock. The transaction, which is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis, is subject to customary closing conditions, including regulatory approval. As of June 19, 2023 regulatory board approved the deal. The acquisition is expected to close shortly. The transaction is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis.
TerrAscend Corp. (CNSX:TER) completed the acquisition of Derby 1, LLC on June 28, 2023. Announcement • Jun 28
TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire Hempaid, LLC for $6.8 million. TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire Hempaid, LLC for $6.8 million on June 26, 2023. Under the terms of the agreement, TerrAscend will acquire Blue Ridge Wellness for total consideration of $6.75 million, including $3 million in cash, with the remainder in a seller’s note. Following the close of the Transaction, TerrAscend's retail footprint will increase to 36 dispensaries nationwide. Announcement • Jun 23
TerrAscend Corp. announced that it expects to receive $15 million in funding TerrAscend Corp. announced two concurrent private placements for the aggregate gross proceeds of $15 million. The private placements consist of an equity offering of up to 5,000,000 units at a price of $2 per unit for the gross proceeds of $7.5 million. Each unit is comprised of one common share of the Company and one-half of one Common Share purchase warrant. Each warrant will entitle the holder to acquire one common share from the company at a price of $1.95 per common share for a period of 24 months following the closing of the equity offering. The company is also offering approximately $7.5 million of debentures in the principal amount of $1,000 per debenture. Unless earlier repaid or converted, the outstanding principal and accrued and unpaid interest on the debentures will be due and payable 36 months following the closing of the debenture offering. Each debenture will bear interest at a rate of 9.9% per annum from the date of issuance, calculated and compounded semi-annually, and payable on the maturity date. The securities offered pursuant to the private placements have not been and will not be registered under the U.S. Securities Act of 1933, as amended. The first closing is expected to occur on June 22, 2023. Announcement • Jun 10
TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire Derby 1, LLC for $22.1 million. TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire Derby 1, LLC for $22.1 million on June 7, 2023. Under the terms of the agreement, TerrAscend will acquire Peninsula Alternative Health for total consideration of $22.1 million, including $1.5 million in cash, with the remainder in a combination of existing debt, a seller’s note, and stock. The transaction, which is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis, is subject to customary closing conditions, including regulatory approval. Announcement • May 24
An unknown buyer acquired Facility located in Mississauga, Canada from TerrAscend Corp. (CNSX:TER) for CAD19.7 million. An unknown buyer acquired Facility located in Mississauga, Canada from TerrAscend Corp. (CNSX:TER) for CAD19.7 million on May 23, 2023.An unknown buyer completed the acquisition of Facility located in Mississauga, Canada from TerrAscend Corp. (CNSX:TER) on May 23, 2023. Reported Earnings • May 12
First quarter 2023 earnings released: US$0.08 loss per share (vs US$0.077 loss in 1Q 2022) First quarter 2023 results: US$0.08 loss per share (further deteriorated from US$0.077 loss in 1Q 2022). Revenue: US$69.4m (up 40% from 1Q 2022). Net loss: US$21.4m (loss widened 31% from 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Mar 30
Chief Financial Officer recently bought €67k worth of stock On the 27th of March, Keith Stauffer bought around 50k shares on-market at roughly €1.34 per share. This transaction increased Keith's direct individual holding by 12x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months. Reported Earnings • Mar 17
Full year 2022 earnings released: US$1.24 loss per share (vs US$0.017 profit in FY 2021) Full year 2022 results: US$1.24 loss per share (down from US$0.017 profit in FY 2021). Revenue: US$247.8m (up 18% from FY 2021). Net loss: US$304.0m (down US$307.1m from profit in FY 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
Terrascend Appoints Jeroen De Beijer as Chief People and Culture Officer TerrAscend Corp. announced the appointment of Jeroen De Beijer as Chief People and Culture Officer, effective immediately. De Beijer brings more than 20 years of experience in global human resources and people management operations. De Beijer will manage TerrAscend's overall People team and strategy helping the Company scale all elements of its People organization, including culture, organizational design, talent acquisition, employee experience, operational efficiency and more. Most recently, DeBeijer worked as Vice President, Human Resources for Operations at Refresco, the world largest independent bottling company. In this role DeBeijer oversaw all Human Resources activities for Refresco North America's manufacturing facilities in the United States and Canada. DeBeijer transitioned into this role from his previous role in Refresco at their corporate head office in the Netherlands where he oversaw several international Human Resources projects and supported Refresco's Executive Board. Prior to his role at Refresco, DeBeijer owned his own consulting business focusing on Human Resources projects at large companies in the manufacturing and services industry. He also worked in leadership roles for Delta Lloyd, a large insurance company in the Netherlands, CapGemini Consulting and Nationale - Nederlanden, a large European Insurance company. DeBeijer began his Human Resources career as a consultant at Hay Group (now Korn/Ferry). Born in the Netherlands, DeBeijer received a master's degree in corporate and employment law from Utrecht University in the Netherlands. Buying Opportunity • Jan 18
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €1.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to grow by 65% in 2 years. Earnings is forecast to grow by 99% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Kara Dioguardi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 26% share price gain to €1.62, the stock trades at a trailing P/E ratio of 10.3x. Average forward P/E is 15x in the Pharmaceuticals industry in Germany. Total loss to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €1.79, the stock trades at a trailing P/E ratio of 9.8x. Average forward P/E is 14x in the Pharmaceuticals industry in Germany. Total loss to shareholders of 59% over the past three years. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: US$0.052 (vs US$0.17 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.052 (up from US$0.17 loss in 2Q 2021). Revenue: US$64.8m (up 10% from 2Q 2021). Net income: US$13.2m (up US$43.9m from 2Q 2021). Profit margin: 20% (up from net loss in 2Q 2021). The move to profitability was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 72%, compared to a 6.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jul 22
TerrAscend Corp. to Report Q2, 2022 Results on Aug 11, 2022 TerrAscend Corp. announced that they will report Q2, 2022 results After-Market on Aug 11, 2022 Board Change • Jul 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Kara Dioguardi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 25
TerrAscend Corp. Announces Launch of Khalifa Kush TerrAscend Corp. announced the launch of Khalifa Kush ("KK"), a premium cannabis brand founded by Grammy® Award- nominated recording artist Wiz Khalifa, at Gage Cannabis dispensaries in Michigan starting June 25th. In March 2022, TerrAscend secured the exclusive rights to produce, process and retail KK branded products in Michigan through the Company's acquisition of Gage Growth Corp. At launch, all 12 Gage dispensaries will offer 1g pre-rolls and eighth flower jars with additional KK products, including extracts and concentrates to follow. Wiz Khalifa will also make an appearance at Gage Grand Rapids, located at 3075 Peregrine Dr. NE, on June 25th at 1:30 pm to commemorate KK's expansion into the Midwest. Recent Insider Transactions • Jun 18
Executive Chairman recently bought €65k worth of stock On the 16th of June, Jason Wild bought around 25k shares on-market at roughly €2.61 per share. In the last 3 months, there was an even bigger purchase from another insider worth €912k. Jason has been a buyer over the last 12 months, purchasing a net total of €163k worth in shares. Announcement • May 26
TerrAscend Corp. (CNSX:TER) acquired Stadium Ventures, LLC. TerrAscend Corp. (CNSX:TER) acquired Stadium Ventures, LLC on December 31, 2021. The terms of the agreement included a $4.5 million promissory note which bears interest at 6% per annum and matures on December 31, 2024.
TerrAscend Corp. (CNSX:TER) completed the acquisition of Stadium Ventures, LLC on December 31, 2021. Announcement • May 18
TerrAscend Launches First-Ever Concentrates in New Jersey TerrAscend Corp. announced the first-ever launch of cannabis concentrates in the state of New Jersey. Kind Tree Liquid Live Resin Vape Cartridges and Kind Tree Live Resin Crumble are available exclusively at The Apothecarium Maplewood and Phillipsburg locations. The company also commenced sales of adult-use cannabis-infused edibles under its Valhalla brand. To celebrate the launch of these new products, Kind Tree will be hosting a pop-up at the Maplewood and Phillipsburg Apothecarium locations on May 21st. The event will feature product and accessory education as well as an opportunity to meet TerrAscend New Jersey's head grower, head of extraction, and the manufacturing team. The first 300 customers at each location will receive prepaid coupons, which can be used at local businesses in the surrounding areas. Reported Earnings • May 14
First quarter 2022 earnings released: US$0.077 loss per share (vs US$0.082 loss in 1Q 2021) First quarter 2022 results: US$0.077 loss per share. Revenue: US$49.7m (down 6.9% from 1Q 2021). Net loss: US$16.4m (loss widened 17% from 1Q 2021). Over the next year, revenue is forecast to grow 104%, compared to a 7.1% growth forecast for the industry in Germany. Announcement • May 12
TerrAscend Appoints Lynn Gefen as Chief Legal Officer TerrAscend Corp. announced the appointment of Lynn Gefen as Chief Legal Officer and Corporate Secretary effective May 23, 2022. Ms. Gefen brings more than two decades of in-house and law firm experience as well as deep public company knowledge to TerrAscend. Previously, Ms. Gefen has served in a variety of legal roles for multi-national companies in the insurance, beverage alcohol, and technology industries. Most recently, Ms. Gefen served as Deputy General Counsel, Chief Risk and Compliance Officer and Assistant Secretary at HomeServe, a publicly traded, independent provider of home repair service solutions. Prior to her role at HomeServe, Ms. Gefen worked for Diageo North America, a global leader in beverage alcohol, focusing on regulatory matters, privacy and compliance, and for Citrix Systems, a multinational cloud computing and virtualization technology company, where she led a team with global responsibility for corporate and compliance matters including securities, commercial transactions, litigation, governance, and employment. Ms. Gefen began her legal career as an associate at Thacher Proffitt & Wood and Holland & Knight. Ms. Gefen received a J.D. from American University and a Bachelor of Arts from the University of Florida. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Lead Independent Director Craig Collard was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 21
TerrAscend Welcomes Adult-Use Sales in New Jersey TerrAscend Corp. announced that it has received an amended cannabis business cultivation and manufacturing license from the New Jersey Cannabis Regulatory Commission. TerrAscend will now be permitted to grow, produce, and sell adult-use cannabis products in New Jersey commencing on April 21. Initial sales will occur at the Company's Apothecarium Maplewood, located 1865 Springfield Ave, Maplewood and at Apothecarium Phillipsburg, located at 55 S Main St, Phillipsburg. TerrAscend also intends to request authorization for its planned dispensary in Lodi, which is expected to open in Second Quarter 2022. TerrAscend is one of twelve vertically integrated operators in New Jersey, and one of only four operating in the Northern region. The Company currently operates a 140,000 sq. ft cultivation and processing facility located in Boonton, with broad wholesale distribution in the State. In addition, the Company holds 3 retail store licenses in the State with 2 currently operational and 1 expected to open during the second quarter of 2022. Announcement • Apr 15
TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire KISA Enterprises MI, LLC and KISA Holdings, LLC for $28.5 million. TerrAscend Corp. (CNSX:TER) entered into a definitive agreement to acquire KISA Enterprises MI, LLC and KISA Holdings, LLC for $28.5 million on April 14, 2022. Under the terms of the agreement, TerrAscend will pay $10 million in cash, $8.5 million in stock at closing, with the remaining $10 million paid via the promissory notes, plus earnout amounts payable upon achievement of certain post-closing milestones. The Transaction will be completed on a cash-free, debt-free basis. The Transaction is subject to, among other things, the approval and receipt of all required CSE, regulatory and court approvals. The Transaction is expected to be immediately accretive to TerrAscend on both Sales and EBITDA basis. Announcement • Apr 12
TerrAscend Corp. (CNSX:TER) acquired Allegany Medical Marijuana Dispensary from Moose Curve Holdings, LLC for $10 million. TerrAscend Corp. (CNSX:TER) acquired Allegany Medical Marijuana Dispensary from Moose Curve Holdings, LLC for $10 million on April 11, 2022. Under the terms of the agreement, TerrAscend will acquire 100% equity interest in AMMD for total consideration of US$10 million in cash, in addition to acquiring the real estate for US$1.7 million (the "Transaction"). The Transaction is subject to customary closing conditions and regulatory approvals. Announcement • Apr 02
TerrAscend Corp., Annual General Meeting, Jun 27, 2022 TerrAscend Corp., Annual General Meeting, Jun 27, 2022. Recent Insider Transactions • Mar 24
Director recently bought €912k worth of stock On the 21st of March, Edward Schutter bought around 180k shares on-market at roughly €5.06 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €3.6m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$0.017 (up from US$0.93 loss in FY 2020). Revenue: US$210.4m (up 42% from FY 2020). Net income: US$3.11m (up US$142.3m from FY 2020). Profit margin: 1.5% (up from net loss in FY 2020). Revenue missed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 91%, compared to a 8.2% growth forecast for the pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 4% per year. Announcement • Mar 05
TerrAscend Corp. Appoints Kara Dioguardi to Its Board of Directors TerrAscend Corp. announced the appointment of Kara DioGuardi to its Board of Directors. A Grammy nominated songwriter, producer, record executive, music publisher, Broadway actress and former American Idol judge, Ms. DioGuardi's credits include 320 songs released by major labels, 11 of which have earned Grammy nominations, 23 BMI Awards and more than 50 charting singles, cumulatively surpassing one billion streams. Announcement • Feb 17
TerrAscend Corp. to Report Q4, 2021 Results on Mar 16, 2022 TerrAscend Corp. announced that they will report Q4, 2021 results After-Market on Mar 16, 2022 Announcement • Feb 04
TerrAscend Corp Announces Executive Appointments TerrAscend Corp. announced the appointment of Charishma Kothari as SVP Marketing, Charles Oster as SVP Sales, and Jared Anderson as SVP Finance and Strategy. These leaders have decades of experience across industries, including Cannabis, Consumer Goods, Pharma, and Retail – all of which will help accelerate future growth in the Company's core markets. Ms. Kothari brings more than 15 years of international experience managing global B2B and B2C product innovation and marketing for leading Pharmaceutical and CPG companies, including Essity Professional Hygiene and Sanofi. Mr. Oster joins TerrAscend with over 20 years of global sales experience across industry verticals including Cannabis, Consumer Goods, and Technology, including overseeing all international sales for Tilray Inc. Over the course of his career. Mr. Anderson brings 10+ years of strategy and finance experience to TerrAscend where he will oversee finance & accounting functions and strategic planning process. Previously he served in multiple Senior Director roles at Canopy Growth Corporation where he led both US Finance and Commercial Strategy & Planning after concluding an 8-year career in the Strategy Consulting arm of Accenture. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The 10 analysts covering TerrAscend previously expected the company to break even in 2021. New consensus forecast suggests the company will make a profit of US$18.1m in 2022. Average annual earnings growth of 39% is required to achieve expected profit on schedule. Recent Insider Transactions • Nov 26
Director recently bought €2.4m worth of stock On the 18th of November, Edward Schutter bought around 452k shares on-market at roughly €5.37 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €2.7m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS US$0.33 (vs US$0.094 loss in 3Q 2020) Third quarter 2021 results: Revenue: US$49.1m (up 29% from 3Q 2020). Net income: US$60.4m (up US$74.5m from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 10 analysts covering TerrAscend expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$53.4m in 2022. Average annual earnings growth of 55% is required to achieve expected profit on schedule. Announcement • Sep 20
TerrAscend Corp. Receives Pre-Qualification Approval for Cultivation, Processing and Retail Licenses from the State of Michigan's Marijuana Regulatory Agency Pursuant to the Medical Marihuana Facilities Licensing Act TerrAscend Corp. announced that it has received pre-qualification approval for cultivation, processing and retail licenses from the state of Michigan's Marijuana Regulatory Agency pursuant to the Medical Marihuana Facilities Licensing Act. The pre-qualification approval represents TerrAscend's successful completion of the most comprehensive portion of the State's licensing and regulatory approval process. The pre-qualification approval is a key closing condition for TerrAscend's previously announced acquisition of Gage Growth Corp.(‘Gage’) (the ‘Transaction’). The Transaction will close as soon as possible after receipt of the applicable shareholder, court and other regulatory approvals and satisfaction or waiver of all other conditions in the definitive arrangement agreement (the ‘Arrangement Agreement’). Upon completion of the Transaction, the combined business will have operations in 5 states and Canada, including 7 cultivation and processing facilities and 23 operating dispensaries serving both medical and adult-use cannabis markets in the U.S. and Canada.