TerrAscend Corp. (TSNDF)
TerrAscend Corp. operates as a cannabis enterprise, handling the cultivation, production, and distribution of various cannabis items throughout Canada and the United States. Its diverse product line encompasses vaporizable products, concentrates, topicals, dried flower, tinctures, and edible formulations. The company markets these offerings under an array of brand names such as Kind Tree Cannabis, GAGE Cannabis, Legend, Valhalla Confections, State Flower Cannabis, Ilera Healthcare, Wana, Cookies, and Lemonnade. Additionally, TerrAscend manages retail cannabis dispensaries operating under banners like Apothecarium, TerrAscend, Pinnacle Emporium, GAGE Cannabis, and State Flower. The firm caters to both medical patients and recreational adult consumers across North America. Incorporated in 2017, TerrAscend maintains its corporate headquarters in King Of Prussia, Pennsylvania.
Sector: Agricultural Production-Crops
Industry: Drug Manufacturers - Specialty & Generic
TERRASCENT CORP
OTC:TSNDFHealthcare · Drug Manufacturers - Specialty & Generic
+2.52%$0.4767
Mkt Cap$147.38M
Float205.78M
O/S309.18M
Inst Own-
SI0.7%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$260.56M
Net Income-$86.23M
Total Assets$557.38M
Free Cash Flow$13.31M
Debt & Equity
Debt 72%
Equity 28%
Total Debt$256.49M
Total Equity$97.48M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TSNDF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$557.38M
Liabilities$458.36M
Accounts Receivable$23.14M
Accounts Payable$51.55M
Inventory$34.05M
PP&E (Net)$156.62M
Goodwill$109.77M
Intangible Assets$167.31M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | CAD | CAD | CAD | CAD | CAD | CAD | CAD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Revenue | $260.56M | $306.68M | $317.33M | $247.83M | $194.21M | $198.32M | $84.87M | $6.83M | $0 | $0 | $0 | $0 |
| YoY Growth | -15.0% | -3.4% | 28.0% | 27.6% | -2.1% | 133.7% | 1143.3% | - | - | - | - | - |
| Cost of Revenue | $124.23M | $156.72M | $157.63M | $146.32M | $78.24M | $171.98M | $87.52M | $10.17M | $381K | $0 | $14K | $2K |
| Gross Profit | $136.32M | $149.96M | $159.7M | $101.5M | $115.97M | $26.34M | -$2.65M | -$3.34M | -$381K | $0 | -$14K | -$2K |
| Gross Margin | 52.3% | 48.9% | 50.3% | 41.0% | 59.7% | 13.3% | -3.1% | -49.0% | - | - | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $426K | $709K | $141K | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $82.41M | $111.6M | $110.01M | $111.54M | $73.71M | $58.68M | $44.78M | $21.24M | $6.19M | $872K | $748K | $384K |
| Other | $11.89M | $55.47M | $72.69M | $325.88M | $19.35M | $16.49M | $16.89M | $3.43M | $84K | $245 | $0 | $0 |
| Total Operating Expenses | $94.3M | $167.07M | $182.69M | $437.42M | $93.06M | $75.6M | $62.39M | $24.81M | $6.27M | $872K | $748K | $384K |
| Operating Income (EBIT) | $42.02M | $39.37M | -$23M | -$335.92M | $22.91M | -$49.26M | -$65.04M | -$28.16M | -$6.66M | -$872K | -$762K | -$387K |
| Operating Margin | 16.1% | 12.8% | -7.2% | -135.5% | 11.8% | -24.8% | -76.6% | -412.5% | - | - | - | - |
| Interest Expense | $50.67M | $32.69M | $35.11M | $39.06M | $24.99M | $7.03M | $4.09M | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $640K | $36K | $9 | $2K | $9 |
| Other Income (Expense) | -$37.04M | -$35.33M | -$35.84M | $25.73M | $21.62M | -$50.49M | -$152.29M | $6.71M | -$149K | -$244 | $2K | -$28 |
| Income Before Tax (EBT) | $4.98M | $4.04M | -$58.83M | -$310.19M | $44.53M | -$99.75M | -$217.33M | -$21.44M | -$6.81M | -$867K | -$761K | -$387K |
| Income Tax Expense | $29.47M | $23.93M | $23.45M | -$10.78M | $28.88M | $27.87M | $1.62M | $704K | -$3 | $0 | $0 | $0 |
| Net Income | -$86.23M | -$80.23M | -$91.1M | -$316.84M | $12.63M | -$139.2M | -$215.79M | -$22.03M | -$6.81M | -$867K | -$761K | -$387K |
| Net Income Margin | -33.1% | -26.2% | -28.7% | -127.8% | 6.5% | -70.2% | -254.3% | -322.7% | - | - | - | - |
| Supplementary Data | ||||||||||||
| EPS | -0.29 | -0.28 | -0.33 | -1.67 | 0.07 | -0.83 | -2.17 | -0.17 | -0.18 | -0.03 | -0.13 | -0.13 |
| Diluted EPS | -0.29 | -0.28 | -0.33 | -1.67 | 0.06 | -0.83 | -2.17 | -0.17 | -0.18 | -0.03 | -0.13 | -0.13 |
| Weighted Average OS | 301.08M | 291.51M | 279.29M | 244.35M | 181.06M | 149.74M | 99.59M | 90.98M | 37.63M | 29.24M | 5.76M | 3.00M |
| EBITDA | $62.62M | $55.55M | -$1.03M | -$246.52M | $49.19M | -$97.3M | -$149.97M | -$19M | -$6.55M | -$6K | $1K | -$15K |
| EBITDA Margin | 24.0% | 18.1% | -0.3% | -99.5% | 25.3% | -49.1% | -176.7% | -278.3% | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | CAD | CAD | CAD | CAD | CAD | CAD | CAD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and Cash Equivalents | $37.41M | $26.38M | $22.24M | $26.16M | $79.64M | $75.41M | $11.9M | $21.77M | $51.82M | $3.33M | $99K | $57K |
| Short-Term Investments | $496K | $1.73M | $1.91M | $3.6M | $0 | $0 | $477K | $7.69M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $37.78M | $26.38M | $24.15M | $29.75M | $100.6M | $75.62M | $12.37M | $21.63M | $51.82M | $3.33M | $99K | $57K |
| Accounts Receivable | $23.14M | $18.89M | $19.05M | $22.44M | $12.49M | $10.86M | $34.74M | $8.22M | $412K | $85K | $0 | $0 |
| Inventory | $34.05M | $48.8M | $51.68M | $46.34M | $36.09M | $20.56M | $25.91M | $11.3M | $1.36M | $0 | $0 | $0 |
| Other Current Assets | $15.13M | $10.37M | $8M | $61.26M | $18.27M | $10.06M | $12.99M | $0 | $0 | $29K | $141K | $24K |
| Total Current Assets | $110.11M | $104.43M | $102.89M | $165.29M | $172.49M | $122M | $90.73M | $43.17M | $53.69M | $3.47M | $397K | $366K |
| Long-Term Assets | ||||||||||||
| Property, Plant & Equipment Net | $156.62M | $225.37M | $239.66M | $332.32M | $178.88M | $165.18M | $112.65M | $25.43M | $15.04M | $401K | $141K | $0 |
| Goodwill | $109.77M | $106.93M | $106.93M | $90.33M | $90.33M | $72.8M | $95.77M | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $167.31M | $169.6M | $215.85M | $239.7M | $168.43M | $110.71M | $149.07M | $1.88M | $337K | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $609K | $0 | $68.09M | $1.76M | $1.3M | $2.73M | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | -$609K | $0 | $5.01M | $14.64M | $14.94M | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $13.57M | $890K | $1.19M | $122.97M | -$101.29M | $58.46M | $145.38M | -$7.87M | -$4K | $0 | $0 | $0 |
| Total Long-Term Assets | $447.27M | $502.8M | $563.63M | $785.32M | $409.45M | $423.54M | $370.03M | $22.16M | $15.37M | $401K | $141K | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $557.38M | $607.23M | $666.52M | $701.59M | $581.93M | $605.25M | $460.77M | $65.33M | $69.06M | $3.87M | $538K | $366K |
| Liabilities | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts Payable | $51.55M | $42.99M | $49.9M | $44.29M | $27.92M | $27.38M | $19.14M | $16.38M | $1.35M | $540K | $57K | $28K |
| Short-Term Debt | $15.68M | $6.76M | $137.74M | $48.34M | $8.32M | $5.73M | $64.69M | $12.62M | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $5.36M | $11.53M | $6.3M | $31.27M | $12.15M | $35.32M | $21.28M | $704K | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $3.99M | $5.13M | $4.15M | $3.98M | $1.35M | $813K | $1.18M | $9K | $0 | $282K | $0 | $0 |
| Other Current Liabilities | -$139K | $15.54M | $717K | $10.02M | $7.79M | $51.07M | $14.48M | -$6.69M | $365K | $965K | $1.05M | $660K |
| Total Current Liabilities | $79.93M | $78.53M | $207M | $137.91M | $66.19M | $93.48M | $142.86M | $22.31M | $1.71M | $1.79M | $1.11M | $688K |
| Long-Term Liabilities | ||||||||||||
| Long-Term Debt | $210.74M | $192.57M | $68.9M | $145.85M | $171.16M | $176.46M | $15.44M | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $8.03M | $8.43M | $22.65M | $30.7M | $14.27M | $7.94M | $26.98M | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $131.1M | $107.7M | $81.44M | $27.7M | $70.61M | $138.85M | $185.17M | $505K | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $378.43M | $351.88M | $218.78M | $242.51M | $286.79M | $347.08M | $242.57M | $505K | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $458.36M | $430.41M | $425.78M | $380.42M | $352.98M | $562.54M | $385.44M | $31.08M | $1.71M | $1.79M | $1.11M | $688K |
| Stockholders' Equity | ||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $321.27M | $259.89M | $47.64M | $50.34M | $4.05M | $529K | $0 |
| Retained Earnings | -$864.74M | -$778.51M | -$928.51M | -$837.71M | -$314.65M | -$397.76M | -$246M | -$22.46M | -$8.77M | -$1.97M | -$1.1M | -$322K |
| Comprehensive Income & Other | $1.99M | $3.01M | $2.37M | $2.83M | $2.82M | -$14.84M | -$1.99M | $0 | $25.8M | $0 | $0 | $0 |
| Other Stockholders' Equity | $962.23M | $955.33M | $1.17B | $1.27B | $538.24M | $77.68M | $52.78M | $31.3M | $25.8M | $0 | $2 | $3 |
| Total Equity | $97.48M | $176.82M | $242.5M | $431.95M | $223.59M | $1.19M | $66.68M | $56.47M | $67.37M | $2.08M | -$568K | -$322K |
| Minority Interest | $1.54M | -$144K | -$1.76M | $3.22M | $5.37M | $9.93M | $8.65M | $1.43M | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $555.84M | $607.23M | $668.27M | $812.37M | $576.57M | $563.73M | $452.12M | $87.55M | $69.08M | $3.87M | $538K | $366K |
| Supplementary Data | ||||||||||||
| Total Debt | $256.49M | $231.32M | $255.7M | $246.02M | $211.44M | $207.05M | $112.08M | $12.62M | $0 | $0 | $0 | $0 |
| Net Debt | $219.07M | $204.94M | $233.46M | $219.86M | $131.79M | $131.64M | $92.07M | -$9.15M | -$51.82M | -$3.33M | -$99K | -$57K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | CAD | CAD | CAD | CAD | CAD | CAD | CAD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Operating Activities | ||||||||||||
| Net Income | -$24.49M | -$20.89M | -$82.29M | $16.82M | -$21.82M | -$127.62M | -$215.79M | -$22.03M | -$6.81M | -$867K | -$761K | -$387K |
| Depreciation & Amortization | $17.22M | $16.17M | $22.7M | $24.6M | $13.86M | $12.52M | $7.32M | $893K | $254K | $867K | $763K | $372K |
| Deferred Income Tax | -$532K | $1.37M | -$10.25M | -$45.95M | -$1.81M | $21.86M | -$2.33M | $688K | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $5.01M | $9.71M | $7.71M | $12.16M | $14.94M | $10.47M | $0 | $3.92M | $2.99M | $40K | $0 | $0 |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | $2.3M | -$5.05M | -$12.5M | $2.86M | -$3.21M | -$3.62M | $1.08M | -$6.49M | -$300K | -$28K | -$57K | -$29K |
| Inventory | $8.3M | $4.17M | -$7M | $676K | -$18.51M | -$16.26M | -$7.83M | -$15.16M | -$1.38M | $0 | $0 | $0 |
| Accounts Payable | -$6.3M | -$316K | $869K | -$12.1M | $2.82M | $8.64M | $1.06M | $15.98M | $0 | $0 | $0 | $0 |
| Other Working Capital | $27.59M | -$5.13M | $52.07M | $8.59M | -$17.15M | -$3.51M | -$1.13M | -$2.9M | -$82K | $432K | $140K | -$341K |
| Total Working Capital Change | $31.89M | -$969K | $33.44M | $29K | -$36.05M | -$14.75M | -$6.82M | -$8.56M | -$1.76M | $404K | $82K | -$370K |
| Other Non-Cash Items | -$7.56M | $32.56M | $45.91M | -$33.79M | -$945K | $130.6M | $177.79M | -$2K | $1.17M | -$867K | -$598K | -$146K |
| Net Cash from Operating | $21.53M | $37.95M | $27.47M | -$26.12M | -$31.82M | $33.09M | -$39.84M | -$25.09M | -$4.15M | -$423K | -$513K | -$531K |
| Investing Activities | ||||||||||||
| Capital Expenditures | -$9.52M | -$13.46M | -$7.76M | -$54.54M | -$50.41M | -$61.11M | -$45.07M | -$12.78M | -$14.38M | -$4K | -$141K | $0 |
| Acquisitions | -$3.4M | -$250K | -$16.79M | $19.74M | -$53.58M | -$190.71M | -$87.61M | $1.13M | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | -$62.69M | $0 | -$818K | -$5.24M | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $3.2M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$1.69M | $1.22M | $8.33M | $7.22M | $34.26M | $205.93M | $26.07M | -$4.3M | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$14.61M | -$12.25M | -$16.22M | -$27.58M | -$132.42M | -$45.89M | -$104.22M | -$21.19M | -$14.38M | -$4K | -$141K | $0 |
| Financing Activities | ||||||||||||
| Debt Repaid | -$11.48M | $17.18M | $27.76M | -$73K | $3.73M | -$147.46M | -$77.5M | -$9.96M | -$7.09M | - | - | - |
| Common Stock Issuance | $0 | $0 | $20.82M | $23.38M | $173.48M | $71.02M | $49.95M | $3.58M | $46.05M | $2.56M | $470K | $0 |
| Common Stock Repurchases | -$572K | -$215K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$6.72M | -$7.32M | -$5.56M | -$19.73M | $12.46M | -$157.74M | -$37.7M | -$904K | $1.83M | $1.1M | $224K | $588K |
| Net Cash from Financing | $4.19M | -$24.72M | -$12.5M | $3.72M | $182.2M | $133.41M | $136.93M | $16.24M | $67.01M | $3.66M | $694K | $588K |
| Forex Effect | -$572K | $653K | -$168K | -$2.9M | $2.45M | -$481K | $327K | $0 | $0 | $0 | -$12K | $0 |
| Net Change in Cash | $10.54M | $1.64M | -$1.42M | -$52.88M | $20.42M | $63.93M | -$6.8M | -$30.04M | $48.48M | $3.23M | $99K | $57K |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | $22.07M | $37.95M | $27.47M | -$33.34M | -$38.45M | $33.01M | -$47.91M | -$25.09M | -$4.15M | -$423K | -$513K | -$637K |
| Capital Expenditure | -$8.76M | -$9.36M | -$9.43M | -$54.54M | -$50.41M | -$61.11M | -$45.07M | -$12.78M | -$14.38M | -$4K | -$141K | $0 |
| Free Cash Flow | $13.31M | $28.59M | $18.04M | -$87.88M | -$88.86M | -$28.1M | -$92.98M | -$37.87M | -$18.53M | -$427K | -$655K | -$637K |
| Cash at Beginning | $26.99M | $25.35M | $26.76M | $79.64M | $59.23M | $11.7M | $21.26M | $51.82M | $3.33M | $99K | $0 | $0 |
| Cash at End | $37.52M | $26.99M | $25.35M | $26.76M | $79.64M | $75.41M | $12.2M | $21.77M | $51.82M | $3.33M | $99K | $57K |