---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-066973"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T05:07:08.472384+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# TerrAscend Q1 revenue down 4.5% QoQ to $71M; margin expands to 51.8%; closes Ohio dispensary deal

## Summary
- Q1 net revenue $71.0M (-4.5% vs Q4'24); gross margin 51.8% (+160bps QoQ).
- GAAP net loss narrowed to $12.3M from $30.2M QoQ; Adjusted EBITDA $15.3M (21.6% margin).
- Positive operating cash flow for 11th consecutive quarter; free cash flow $5.5M.
- Closed acquisition of Ratio Cannabis dispensary in Ohio; signed definitive agreement for 4th NJ dispensary.
- Issued ~4.57M common shares at $0.29/share as part of Ohio acquisition consideration.

## SEC filing metadata
- accession: 0000950170-25-066973
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000095017025066973/0000950170-25-066973-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017025066973/tsndf-20250506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-066973
- JSON: https://secwatch.observer/filing/0000950170-25-066973.json
- Plain text: https://secwatch.observer/filing/0000950170-25-066973.txt

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