---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-025392"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2022-11-17T23:59:59+00:00"
generated_at: "2026-06-21T16:45:12.060375+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TerrAscend Q1 2022 net sales $49.7M, adjusted EBITDA $3.3M, net loss $16.0M

## Summary
- Net sales $49.7M, up 1% QoQ but down 7% YoY; hit by PA vape recall and NJ adult-use inventory build.
- Adjusted gross margin 38.4% vs 49.8% Q4 2021; GAAP gross margin 30.5% due to recall charges.
- Adjusted EBITDA $3.3M vs $11.9M Q4 2021; net loss $16.0M vs $5.9M prior quarter.
- Subsequent events: NJ adult-use sales started Apr 21; acquisitions of 5 Pinnacle MI dispensaries and MD medical dispensary.
- Cash $88.4M; Gage Acquisition closed Mar 10; operating cash flow negative $18.8M.

## SEC filing metadata
- accession: 0000950170-22-025392
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2022-11-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/0000950170-22-025392-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/trssf-20220512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-025392
- JSON: https://secwatch.observer/filing/0000950170-22-025392.json
- Plain text: https://secwatch.observer/filing/0000950170-22-025392.txt

## Key facts
- Earnings Releases
  TerrAscend Corp. reported first quarter ending March 31, 2022 results: revenue 49.7, net income (16.0).
  - Period: first quarter ending March 31, 2022
  - Revenue: 49.7
  - Net income: (16.0)
  - Result: reported results
  source text: Revenue, net 53.4 49.2 49.7 QoQ increase 7.5% 0.1% 0.9% YoY increase 106.2% -0.8% -6.9% Gross profit 34.9 20.8 15.1 Adjusted Gross profit 1 34.9 24.5 19.1 Adjusted gross margin % 65.5% 49.8% 38.4% Share-based compensation expense 3.6 1.5 3.4 General & Administrative expense (excl share based comp) 16.8 17.0 19.2 % of revenue, net 31.5% 34.5% 38.7% Adjusted EBITDA 1 21.6 11.9 3.3 Adjusted EBITDA % of revenue, net 40.4% 24.2% 6.6% Net loss (14.1) (5.9) (16.0)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/0000950170-22-025392-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.