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CEO Ziad Ghanem Explains Why TerrAscend Shines

By Shadd Dales On Aug 14, 2023

In all of the latest earnings reports from cannabis companies, there has been one clear winner. Shadd Dales and Anthony Varrell touch base with CEO Ziad Ghanem of TerrAscend (TSX: TSND) in today’s Trade To Black podcast. Ghanem shares some insights from within his company to discuss TerrAscend’s earning report and what helped them stand head and shoulders above the rest.

Ghanem commends his team’s achievements during the quarter. They made a remarkable number of achievements in this past quarter, including the successful listing on the TSX, strategic acquisitions in Maryland following the state’s recreational launch, debt reduction and repayment, and many fruitful partnerships developed.

This is especially remarkable in light of the current state of the industry. Many cannabis companies are struggling to achieve a decent profit margin and control costs. Nevertheless, analyst feedback on TerrAscend’s earnings has been positive, examining their top line revenue, profitability, and notable growth metrics. We agree that it’s one of the most exciting names in the cannabis space right now.

We know many of the dry facts and figures, but Ghanem shares more about the internal workings of TerrAscend starting with how he ended up in the cannabis space and how his past experience in outside industries is leveraged in this one. Ghanem believes that his customers and his stakeholders from his ‘previous life’ are exactly the same as in this new one.

Ghanem also goes on to explain a philosophy that may not be well-known yet to those on the outside looking in: Team Member First. TerrAscend is keeping a close eye on factors like employee turnover and satisfaction and is proud to have an extremely good retention. These are important, he says, to customer satisfaction and the efficiency of the operation.

Obviously TerrAscend is doing something well, because their net revenue is up 3.9% sequentially to $72.1m and 12.7% YOY. Gross profit margins were 50.2%, which is an increase again over 48.8% in Q1. Truly impressive numbers in this tough climate for cannabis companies.

How does an investor identify companies that are dead, and what’s ahead for the industry and TerrAscend? Tune in for the latest.

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* In accordance with an executed agreement between The Dales Report and TerrAscend, The Dales Report is engaged with the aforementioned on a 6-month contract for $7,500 per month, with the purpose of publicly disseminating information pertaining to TerrAscend via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer.

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.