---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-031493"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T21:23:20.917356+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TerrAscend reports record 2023 revenue $317.3M (+28%); Q4 Adj. EBITDA $19.6M; first full year of positive free cash flow

## Summary
- Full year 2023 net revenue $317.3M, up 28% YoY; gross profit margin 50.3% vs 41.0% in 2022.
- Adjusted EBITDA from continuing ops $68.8M for FY2023 (+77.1% YoY); positive free cash flow $23.4M (first full year).
- Q4 2023 net revenue $86.6M (+25.5% YoY); Adjusted EBITDA $19.6M (+60.7% YoY); margin 22.7% vs 17.7%.
- GAAP net loss from continuing ops $82.3M for FY2023 includes $58.0M non-cash impairments on Michigan/California intangibles.
- Changed tax position under IRC 280E; reclassified $59.2M tax liabilities to long-term; expects ~$26M in refunds for 2020-2021.

## SEC filing metadata
- accession: 0000950170-24-031493
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000095017024031493/0000950170-24-031493-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017024031493/tsndf-20240314.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-031493
- JSON: https://secwatch.observer/filing/0000950170-24-031493.json
- Plain text: https://secwatch.observer/filing/0000950170-24-031493.txt

## Key facts
- Earnings Releases
  TerrAscend Corp. reported financial results for the fourth quarter and fiscal year ended December 31, 2023.
  - Period: the fourth quarter and fiscal year ended December 31, 2023
  - Result: reported results
  source text: On March 14, 2024, TerrAscend Corp. (the "Company") issued a press release announcing its financial results and business highlights for the fourth quarter and fiscal year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000095017024031493/0000950170-24-031493-index.htm

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