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BALCAO · AGRICULTURAL PRODUCTION-CROPS

TerrAscend Corp. TSNDF

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$260.6M
▼ 2.8% YoY
$-81.3M
$12.9M
▼ 58.5% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company operates under one reportable segment, which is the cultivation, production and sale of cannabis products. It operates four cultivation and processing facilities and twenty operational dispensaries serving thousands of medical patients and adult-use consumers across North America. It owns a portfolio of operating businesses, including TerrAscend New Jersey, a majority-owned operation with four dispensaries and a cultivation/processing facility; TerrAscend Maryland, a wholly-owned operation with four dispensaries and a cultivation/processing facility; TerrAscend Pennsylvania, a wholly-owned operation with six dispensaries and a cultivation/processing facility; TerrAscend California, a wholly-owned operation with four dispensaries and a cultivation facility; TerrAscend Ohio, a cannabis retailer with one wholly-owned dispensary in New Philadelphia, Ohio; and TerrAscend Canada, a cannabis retailer with a majority-owned dispensary in Toronto, Ontario, Canada. Approximately 50% of the products sold in the company's own retail stores are sourced from its own cultivation and manufacturing operations. As of December 31, 2025, the company employed 1,038 employees, of which approximately 828 were engaged on a full-time basis, and 86 were subject to a collective bargaining agreement. The company was incorporated under the Business Corporations Act (Ontario) on March 7, 2017.

Written from the business description in TerrAscend Corp.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth

USD 260.6M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 260.6 · Net income -81.3
100M200M-150M-300M
202020232025
Compound annual growth
+1.7%
+14.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.5% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−31 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 16.1% · Net -31.2%
5%10%15%-50%-100%
202020222025
ROE
FY2025 · ROE -59.0%
-50%-100%
202020222025
Three returns, three denominators.

Each USD of equity lost 59 cents this year.

Cash & shareholders

USD 410,000.00
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 12.9
15M30M-30M-60M
202020222025
Net buybacks $ Dividends $
FY2025 · Dividends · · Net buybacks 410000.0
150000300000
20242025

USD 410,000.00 in buybacks went back to shareholders in a year without profit.

Total assetsUSD 557.4M
CashUSD 37.4M
Gross debtUSD 225.5M
Net debtUSD 188.0M
Current ratio1.38×

Net debt stands at 190% of equity.

The 6-year record

6 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
TSNDF, 6-year financial record
Metric 202520242023202220212020
Revenue $B0.30.30.30.20.20.1
Operating income $B0.00.00.0−0.30.00.0
EBITDA $B0.10.00.0−0.30.00.0
Income tax $B0.00.00.0−0.00.00.0
Net income $B−0.1−0.1−0.1−0.30.0−0.1
Free cash flow $B0.00.00.0−0.1−0.1−0.1
EPS, diluted $−0.29−0.28−0.34−1.350.01−1.03
Dividend / sh $◌◌◌◌◌◌
Payout % — not applicable: no dividend——————
ROE %−59.0−34.8−30.9−118.3——
Shares out B0.310.290.290.260.19◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures · 3 divergences in 28 reconciliationsAUDITED

Reconciled in 3 of the 6 fiscal years we could check. 3 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 28 checks were skipped: the balance sheet is not tagged before 2021. 13 checks were skipped: EPS is not tagged before 2020. 13 checks were skipped: revenue is not tagged before 2020.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures3 divergent
ActivityAgricultural Production-Crops
Listed onOTC market
Incorporated inoutside the United States — SEC code A6
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2020

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