Highest-materiality recent filing
TerrAscend files preliminary proxy for reverse stock split vote; recasts segment reporting by state
Special meeting for share consolidation set for Aug 24, 2026; record date June 30; proxy deadline Aug 20.
TerrAscend raises $21.7M in convertible debentures, retires $11.1M higher-rate debt
Issued 21,702 secured convertible debentures at US$1,000 each for aggregate gross proceeds of US$21.7M.
TerrAscend Q1 2026: revenue $65.5M, adj EBITDA $17.4M, 15th consecutive positive cash flow
Net revenue $65.5M, +1.9% YoY; gross margin 52.8% vs 53.9% a year ago.
TerrAscend prelim Q1 net revenue $65.5M, gross margin 52.8%, cash flow positive
Net revenue of $65.5M from continuing operations, up from $64.3M in Q1 2025.
TerrAscend Q4 revenue $66.1M, net loss narrows to $0.5M; FY2025 revenue $260.6M down 2.8% YoY
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.
TerrAscend closes $13M option to buy 35% of Union Chill NJ dispensary; accretive to EBITDA
Total consideration $13M: $9M convertible notes (6.5%, due 2029) plus $4M cash on option exercise.
TerrAscend Q3 revenue flat at $65.1M; gross margin up to 52.1%, adjusted EBITDA $17M
Net revenue $65.1M (flat YoY); gross margin 52.1% (+110bps YoY). GAAP net loss $9.9M vs $15.8M a year ago.
TerrAscend Q2 net rev $65M, gross margin 51.1%; exits Michigan, completes $79M refinancing
Net revenue $65.0M (down 3.3% YoY); gross profit margin improved to 51.1% from 49.6%.
Closed $79M upsize to existing senior secured syndicated term loan; $68M used to retire Pelorus Term Loan and other debt.
TerrAscend exits Michigan market; will sell 4 cultivation facilities, 20 dispensaries
Net proceeds from asset sales to be used to pay down Company debt.
TerrAscend shareholders approve option repricing for CEO, CFO; CFO resignation confirmed
Shareholders approved amendment of 3,706,250 stock options held by CEO Ziad Ghanem, CFO Keith Stauffer, and CLO Lynn Gefen, reducing exercise price to 5-day VWAP on TSX before June 24, 2025.
CFO Keith Stauffer resigns effective July 18, 2025 to pursue opportunity outside cannabis industry.
TerrAscend Q1 revenue down 4.5% QoQ to $71M; margin expands to 51.8%; closes Ohio dispensary deal
Q1 net revenue $71.0M (-4.5% vs Q4'24); gross margin 51.8% (+160bps QoQ).
TerrAscend Q4 revenue flat at $74.4M; net loss includes $45.4M Michigan impairment
Q4 net revenue $74.4M (+0.3% QoQ); FY24 revenue $306.7M (-3.3% YoY).
TerrAscend prelim Q4 net revenue $74.4M, gross margin 50.2%, positive cash flow
Net revenue of $74.4M, up 0.3% QoQ from Q3 2024's $74.2M.
TerrAscend Q3 revenue $74.2M, net loss widens to $21.4M; announces Ohio dispensary acquisition
Net revenue $74.2M (-4.3% QoQ); gross margin 48.8% vs 48.6% in Q2.
TerrAscend closes final $26M tranche of $140M loan, repays higher-interest Michigan debt
Completed second draw of $26M on Sept 30, 2024, bringing total loan to $140M.
TerrAscend Q2 revenue $77.5M (+7.5% YoY), Adj. EBITDA up 22%, $140M term loan secured
Net revenue $77.5M, +7.5% YoY; gross margin 48.6% vs 50.2%.
TerrAscend closes $140M senior-secured loan at 12.75%; retires PA and MI debt
Four-year term loan with initial draw of $114M and delayed draw of $26M expected Sept 2024.
TerrAscend Q1 net rev $80.6M (+16% YoY); adj EBITDA $16.2M (+33%); operating cash flow $13.3M
Net revenue $80.6M, +16.1% YoY; gross margin 48.0% vs 48.8% in Q1 2023.
Full year 2023 net revenue $317.3M, up 28% YoY; gross profit margin 50.3% vs 41.0% in 2022.
TerrAscend Q3 revenue $89.2M (+34.7% YoY); raises FY2023 guidance to $320M revenue, $73M EBITDA
Net revenue $89.2M, up 23.7% sequentially and 34.7% YoY; gross margin 53.6% vs 50.2% in Q2 2023.
TerrAscend raises FY2023 guidance: net revenue at least $317M, adjusted EBITDA at least $63M
New FY2023 guidance: net revenue at least $317M (up 28% YoY) vs prior $305M; adjusted EBITDA at least $63M (up 62% YoY) vs prior $58M.
TerrAscend Q2 2023 record revenue $72.1M (+12.7% YoY); reaffirms FY guidance
Net revenue $72.1M, up 12.7% YoY and 3.9% sequentially; gross margin 50.2% (+140bps).
Q2 2023 net revenue $72.1M, up 12.7% YoY and 3.9% sequentially; gross profit margin 50.2% vs 48.8% in Q1 2023.
TerrAscend closes $21M private placement, lists on TSX, changes OTC ticker
Total aggregate gross proceeds from private placements approximately US$21 million (CAD $27.8 million).
TerrAscend closes $16M initial tranche of private placement, upsized to $20M
First tranche: 4,071,577 units at $1.50/unit ($6.1M equity) and 9,905 debentures at $1,000 each ($9.9M debt).
TerrAscend Q1 revenue $69.4M (+42.8% YoY), gross margin 48.8%, positive FCF $5.9M
Net revenue $69.4M, up 42.8% YoY; gross margin 48.8%, up 420 bps sequentially.
TerrAscend subsidiary to issue $1M in shares to TerInvest; shareholder vote required
TerrAscend Growth Corp. entered subscription agreement with TerInvest LLC for $1M investment in exchange for class A shares.
TerrAscend subsidiary to issue $1M equity to TerInvest; needs shareholder vote for TSX listing
Subsidiary TerrAscend Growth will issue Class A shares to TerInvest LLC for $1M; Corporation will hold ~99.8% non-voting shares.
TerrAscend promotes Ziad Ghanem to CEO effective March 29, 2023
Ziad Ghanem appointed CEO, continuing as President; previously President and COO since Jan 2022.
TerrAscend amends credit agreement: $35M prepayment, new PA property financing, covenant changes
Prepay $35M of loans at 103.22% of principal plus accrued interest on March 15, 2023.
Extinguished $20M USD non-convertible debenture from Arise Bioscience and CAD 80.5M + CAD 13.2M obligations from TerrAscend Canada.
TerrAscend Q1 2022 net sales $49.7M, adjusted EBITDA $3.3M, net loss $16.0M
Net sales $49.7M, up 1% QoQ but down 7% YoY; hit by PA vape recall and NJ adult-use inventory build.
TerrAscend Q2 revenue $64.8M (+31% QoQ); GAAP net income $14.2M vs. -$16M Q1
Net sales $64.8M, up 31% sequentially from $49.7M; 10.4% YoY growth, driven by New Jersey adult-use launch.
TerrAscend enters $45.5M senior secured loan with Pelorus Fund; 9.5%+SOFR, 2027 maturity
Principal $45,478,000; maturity Oct 11, 2027; interest at one-month SOFR (floor 2.5%) plus 9.5%, paid monthly.
Gage Growth reports $91.5M revenue and $44.3M net loss for FY2021; audited financials filed
Revenue of $91.5M, gross profit $29.4M (32.1% margin).
TerrAscend amends 8-K with Gage FY2021 financials: $44.3M net loss on $91.5M revenue
Gage revenue $91.5M, net loss $44.3M for year ended Dec 31, 2021 (net loss per share $0.14).
TerrAscend reports FY 2021 net sales up 42% to $210.4M; Q4 flat; Gage acquisition closed
Full year 2021 net sales $210.4M, up 42% YoY; adjusted EBITDA $65.6M, up 57% YoY.
TerrAscend completes acquisition of Gage Growth Corp. for ~$386M in stock
Total consideration valued at ~$386M based on CSE closing price on March 9, 2022; Gage shareholders received 51.35M TerrAscend shares.
As previously disclosed, on May 28, 2025, Mr. Stauffer notified the Company of his decision to resign as the Company’s Chief Financial Officer, effective July 18, 2025.
Effective upon his departure, Alisa Campbell, currently Senior Vice President, Corporate Finance & Accounting, will assume leadership of the Company’s accounting and finance function on an interim basis reporting to Ziad Ghanem, President and Chief Executive Officer.
On May 28, 2025, Keith Stauffer notified the Company of his decision to resign as the Company’s Chief Financial Officer (“CFO”), effective July 18, 2025
On November 20, 2024, the Board of Directors (the “Board”) of TerrAscend Corp. (the “Company”) approved the promotion of Lynn Gefen, the Company’s current Chief Legal Officer and Corporate Secretary, to the role of Chief People and Legal Officer and Corporate Secretary, effective as of November 12, 2024
On March 29, 2023, the board of directors (the “Board”) of TerrAscend Corp. (the “Company”) appointed Ziad Ghanem as Chief Executive Officer of the Company effective immediately, in addition to continuing in his role as President of the Company.
On December 1, 2022, the board of directors (the “Board”) of TerrAscend Corp., an Ontario Corporation (the “Company”), appointed Ira Duarte as a member of the Company’s Board, effective immediately.
On September 16, 2022, the employment of Ryan McWilliams, Executive Vice President of the Northeast Region, was terminated effective October 16, 2022.
On March 2, 2022, TerrAscend Corp. (the “Company”) appointed Kara DioGuardi to the Company’s board of directors (the “Board”), effective immediately (the “Effective Date”).
On January 5, 2022, TerrAscend Corp. (the “Company”) appointed Ziad Ghanem as the Company’s President and Chief Operating Officer, effective immediately (the “Effective Date”).
Max materiality 0.85 · Median 0.70 · Most common event earnings