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FINWIRES

TerrAscend Announces Preliminary First Quarter 2026 Financial Results

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-- TerrAscend (TSND.TO), a North American cannabis operator, announced preliminary and unaudited financial results for the first quarter ended March 31, 2026, on Monday.

The preliminary and unaudited financial results reported are from continuing operations, and do not include Michigan, which are reported as discontinued operations effective as of the second quarter ended June 30, 2025, said the company.

For the first quarter of 2026, the company expects net revenue of US$65.5 million, compared to US$66.1 million in the fourth quarter of 2025 and US$64.3 million in the first quarter of 2025.

It expects gross profit margin of 52.8% for the first quarter of 2026, compared to 52.1% in the fourth quarter of 2025 and 53.9% in the first quarter of 2025.

The company's shares were last seen up C$0.03 or 3.3% at C$0.94 on the Toronto Stock Exchange.

Price: $0.95, Change: $+0.04, Percent Change: +4.40%

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Research Alert: Strong Execution, Softer Outlook: Record Margins Amid Mixed Signals

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Itron's Q1 2026 results beat consensus with revenue of $587M (vs. $572M estimate) despite a 3% decline and non-GAAP EPS of $1.49 (vs. $1.24 estimate), though down $0.03 Y/Y. Record adjusted gross margin expanded 490 bps to 40.7%, fueled by strong execution and projects ahead of schedule. We view these results as validating the business mix evolution, with Outcomes growing 22% to $96M and service revenues surging 30% across all segments, while the new Resiliency Solutions segment contributed $16M. Q2 guidance of $560M-$570M revenue and $1.25-$1.35 EPS came well below consensus of $606M/$1.46, requiring management clarity on project timing explanations. We believe the declining backlog (down 6% to $4.4B) coupled with Networked Solutions revenue declines represent a worrisome double headwind worth monitoring. However, our long-term thesis remains intact as we see the revenue shift toward AI-powered grid analytics as positive, supported by robust $79M free cash flow and accelerating demand in the Outcomes segment.

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