Terrascend (TSE:TSND) has released an update.
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TerrAscend Corp. reported a robust first quarter in 2024, with net revenue rising 16.1% to $80.6 million and generating a significant $13.3 million cash flow from operations. Despite a net loss from continuing operations, the company experienced a 33% surge in Adjusted EBITDA to $16.2 million, indicating a solid financial performance with a continued positive free cash flow of $10.5 million. The company’s leadership remains optimistic about future growth opportunities, including potential legislative changes favoring the cannabis industry in Pennsylvania and at the federal level.
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