TRSSF - TerrAscend Turns Its First Profit as Revenues Rise
Multistate cannabis operator TerrAscend (OTC: TRSSF) purchased new facilities and acquired new brands in Midwest and East Coast cannabis spheres in Q1 2022, flexing its strategy to go deep in medical markets prior to adult-use cannabis's arrival. Consequently, costs have risen as the company acquired new facilities and workforces in medical cannabis and adult use cannabis states alike. But over the past four years, that big spending appears to have led to an even bigger payoff.
Building on the brand's major presence in the San Francisco market, where it has a cultivation facility and five area dispensaries, TerrAscend bolstered its operations in four Midwest and East Coast markets.
You can see TerrAscend's eye toward the future in its significant rise in selling, general, and administrative (SG&A) expenses over the past four years, as the company takes on new employees, strengthens its brand, and learns new markets. The expansion in SG&A seems to have spurred large increases in revenue and profits:
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TerrAscend Turns Its First Profit as Revenues Rise