---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-104330"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T13:43:41.212271+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TerrAscend Q4 revenue $66.1M, net loss narrows to $0.5M; FY2025 revenue $260.6M down 2.8% YoY

## Summary
- GAAP net loss from continuing ops $0.5M in Q4 vs $9.9M in Q3; FY net loss $24.5M vs $20.9M in 2024.
- Adjusted EBITDA from continuing ops $16.7M (25.2% margin) in Q4, $67.8M (26.0% margin) for FY.
- Net cash from ops $8.3M in Q4, $33.9M for FY; free cash flow $6.6M Q4, $25.3M FY.
- Completed $79M debt refinancing with $35M uncommitted facility for M&A; Michigan exit advanced.
- Expanded retail in NJ via Union Chill; entered Ohio with Ratio Cannabis acquisition.

## SEC filing metadata
- accession: 0001193125-26-104330
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2026-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1778129/000119312526104330/0001193125-26-104330-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000119312526104330/tsndf-20260312.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-104330
- JSON: https://secwatch.observer/filing/0001193125-26-104330.json
- Plain text: https://secwatch.observer/filing/0001193125-26-104330.txt

## Key facts
- Earnings Releases
  TerrAscend Corp. reported Full Year 2025 results: revenue Net Revenue was $260.6 million, net income GAAP Net Loss from continuing operations was $24.5 million.
  - Period: Full Year 2025
  - Revenue: Net Revenue was $260.6 million
  - Net income: GAAP Net Loss from continuing operations was $24.5 million
  - Result: reported results
  source text: Full Year 2025 Financial Highlights • Net Revenue was $260.6 million, compared to $268.1 million in 2024. • Gross Profit Margin was 52.3%, compared to 50.7% in 2024. • GAAP Net Loss from continuing operations was $24.5 million, compared to $20.9 million in 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000119312526104330/0001193125-26-104330-index.htm
- Earnings Releases
  TerrAscend Corp. reported Fourth Quarter 2025 results: revenue Net Revenue was $66.1 million, net income GAAP Net Loss from continuing operations was $0.5 million.
  - Period: Fourth Quarter 2025
  - Revenue: Net Revenue was $66.1 million
  - Net income: GAAP Net Loss from continuing operations was $0.5 million
  - Result: reported results
  source text: Fourth Quarter 2025 Financial Highlights • Net Revenue was $66.1 million, compared to $65.1 million in Q3 2025. • Gross Profit Margin was flat at 52.1%, compared to Q3 2025. • GAAP Net Loss from continuing operations was $0.5 million, compared to net loss of $9.9 million in Q3 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000119312526104330/0001193125-26-104330-index.htm

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