---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-268109"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:53:57.184903+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TerrAscend Q3 revenue flat at $65.1M; gross margin up to 52.1%, adjusted EBITDA $17M

## Summary
- Net revenue $65.1M (flat YoY); gross margin 52.1% (+110bps YoY). GAAP net loss $9.9M vs $15.8M a year ago.
- Adjusted EBITDA from continuing ops $17.0M (26.1% margin) vs $16.9M in Q3 2024.
- Net cash from ops $7.1M, free cash flow $4.9M – 13th consecutive quarter of positive cash from ops.
- Completed $79M non-dilutive debt refinancing with added $35M uncommitted term facility for M&A.
- Board authorized $10M share repurchase program over 12 months.

## SEC filing metadata
- accession: 0001193125-25-268109
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000119312525268109/0001193125-25-268109-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000119312525268109/tsndf-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-268109
- JSON: https://secwatch.observer/filing/0001193125-25-268109.json
- Plain text: https://secwatch.observer/filing/0001193125-25-268109.txt

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