---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-105046"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T18:01:51.340473+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TerrAscend Q2 net rev $65M, gross margin 51.1%; exits Michigan, completes $79M refinancing

## Summary
- Net revenue $65.0M (down 3.3% YoY); gross profit margin improved to 51.1% from 49.6%.
- GAAP net loss from continuing ops $6.4M (vs $6.3M loss YoY); adjusted EBITDA $16.0M (24.6% margin).
- 12th consecutive quarter positive cash flow from continuing ops ($7.3M); 8th consecutive positive free cash flow ($5.0M).
- Announced exit from Michigan market; plans to sell assets in H2 2025 to pay down debt.
- Subsequent to quarter end, closed $79M non-dilutive refinancing extending maturities to late 2028; additional $35M for M&A.

## SEC filing metadata
- accession: 0000950170-25-105046
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1778129/000095017025105046/0000950170-25-105046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017025105046/tsndf-20250807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-105046
- JSON: https://secwatch.observer/filing/0000950170-25-105046.json
- Plain text: https://secwatch.observer/filing/0000950170-25-105046.txt

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