Sonny Randhawa's questions to Terrascend Corp (TSNDF) leadership • Q2 2024
Question
Sonny Randhawa from Seaport Global Holdings LLC sought clarification on where the bad debt reversal was captured in the income statement and asked for the net proceeds from the recent debt refinancing.
Answer
CFO Keith Stauffer explained the $4.2 million bad debt reversal was credited to operating expenses on a GAAP basis but was adjusted out for the non-GAAP adjusted EBITDA calculation. President & COO Ziad Ghanem added that underlying operating expenses still declined quarter-over-quarter. Regarding the refinancing, Stauffer reiterated that the company was not disclosing the exact net proceeds but stated it amounted to 'several million dollars' after paying off existing loans and fees.