secwatch.observer — SEC 8-K summary
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Issuer:     TerrAscend Corp. (TSNDF)
CIK:        0001778129
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0000950170-22-025392
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/0000950170-22-025392-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/trssf-20220512.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-025392

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer