TSNDF on OTC

TerrAscend Corp.

The Company is a leading North American cannabis company.4 From its latest annual report

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerTSNDF on OTC2
  • IndustryAgricultural Production-Crops2
  • HeadquartersMississauga, Canada2
  • Incorporated inOntario, Canada3
  • Business address3610 Mavis Road, Mississauga, A6 L5B 4A73
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI529900Z66HBZ5381EO492
  • StatusActive2
  • LEI statusIssued and current2
  • Registered address77 City Centre Drive Road, Suite 501, L5B 1M5 Mississauga, Canada2
  • Registered withMinistry of Government and Consumer Services, 25650662

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The Company is a leading North American cannabis company. The Company has vertically-integrated licensed operations in Pennsylvania, New Jersey, Maryland and California. In addition, the Company has retail operations in Ohio and Ontario, Canada with a majority-owned dispensary in Toronto, Ontario, Canada. Notwithstanding the fact that various states in the United States have implemented medical cannabis laws or have otherwise legalized the use of cannabis, the use of cannabis remains illegal under U.S. federal law for any purpose, by way of the Controlled Substances Act of 1970 (the "Controlled Substances Act").4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

52.3%Gross margin5
16.1%Operating margin5
-31.2%Net margin5
-2.8%Revenue growth, 20255
-82.1%Return on equity5
2.28×Debt to equity5
$12.9MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue48¢$124.2M
  • Other costs30¢$78.0M
  • Interest11¢$28.8M
  • Income tax11¢$29.5M

Out of $260.6M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending40¢$8.6M
  • Share buybacks2¢$410.0K
  • Kept or used elsewhere58¢$12.5M

Out of $21.5M of cash from operations.5

Financial statements

Revenue6785$260.6M in 2025+97% since 2020
0$100.0M$200.0M$300.0M2020: $132.2M$132.2M20202021: $194.2M$194.2M2021+47%2022: $247.8M$247.8M2022+28%2023: $250.5M$250.5M2023+1%2024: $268.1M$268.1M2024+7%2025: $260.6M$260.6M2025−3%
Gross profit6785$136.3M in 2025+59% since 2020
0$50.0M$100.0M$150.0M2020: $85.7M$85.7M20202021: $112.5M$112.5M2021+31%2022: $101.5M$101.5M2022−10%2023: $138.0M$138.0M2023+36%2024: $135.9M$135.9M2024−2%2025: $136.3M$136.3M2025+0%
Operating income6785$42.0M in 2025+104% since 2020
-$400.0M-$300.0M-$200.0M-$100.0M0$100.0M2020: $20.6M$20.6M20202021: $22.9M$22.9M2021+11%2022: -$335.9M-$335.9M20222023: $29.7M$29.7M20232024: $38.9M$38.9M2024+31%2025: $42.0M$42.0M2025+8%
Net income6785-$81.3M in 2025−43% since 2020
-$400.0M-$300.0M-$200.0M-$100.0M0$100.0M2020: -$142.3M-$142.3M20202021: $6.1M$6.1M20212022: -$325.4M-$325.4M20222023: -$86.7M-$86.7M2023−73%2024: -$72.7M-$72.7M2024−16%2025: -$81.3M-$81.3M2025+12%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenue, net$260.6M$268.1M$250.5M
Cost of sales$124.2M$132.2M$112.5M
Gross profit$136.3M$135.9M$138.0M
General and administrative$86.2M$90.6M$83.5M
Amortization and depreciation$5.4M$5.1M$5.8M
Impairment of intangible assets$2.6M$0$15.5M
Impairment of goodwill$0$4.7M
Impairment of property and equipment and right of use assets$0$2.4M$28.0K
Other operating expense (income)$33.0K-$1.2M-$1.3M
Total operating expenses$94.3M$96.9M$108.3M
Income from operations$42.0M$38.9M$29.7M
Finance and other expenses$35.4M$33.5M$32.9M
Unrealized and realized loss on investments$1.4M$238.0K$2.6M
(Gain) loss from revaluation of contingent consideration-$1.0M$2.5M-$645.0K
Loss on extinguishment of debt$1.4M$2.1M$0
Loss (gain) on fair value of derivative liabilities$535.0K-$4.5M-$1.2M
Transaction and restructuring costs$344.0K
Unrealized and realized foreign exchange (gain) loss-$687.0K$940.0K$2.0K
Income (loss) from continuing operations before provision for income taxes$5.0M$4.2M-$4.2M
Provision for income taxes$29.5M$25.1M$23.4M
Net loss from continuing operations-$24.5M-$20.9M-$27.6M
Loss from discontinued operations, net of tax-$56.8M-$51.8M-$59.1M
Net loss-$81.3M-$72.7M-$86.7M
Foreign currency translation adjustment$1.0M-$1.2M$286.0K
Comprehensive loss-$82.4M-$71.5M-$87.0M
Common and proportionate Shareholders of the Company-$29.4M-$28.5M-$36.4M
Non-controlling interests$4.9M$7.6M$8.8M
Common and proportionate Shareholders of the Company-$87.3M-$79.0M-$95.8M
Non-controlling interests$4.9M$7.6M$8.8M
Continuing operations, basic-$0-$0-$0
Continuing operations, diluted-$0-$0-$0
Discontinued operations, basic-$0-$0-$0
Discontinued operations, diluted-$0-$0-$0
Net loss per share - basic-$0.29-$0.28-$0.34
Net loss per share - diluted-$0.29-$0.28-$0.34
Weighted average number of outstanding common shares, basic301.1M shares291.5M shares279.3M shares
Weighted average number of outstanding common shares, diluted301.1M shares291.5M shares279.3M shares

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Leadership

Who has led TerrAscend Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ziad Ghanem2023–now

President

  1. Ziad Ghanem2022–now

Chief financial officer

  1. Keith Stauffer2022–now

Chief operating officer

  1. Ziad Ghanem2022–2023
2025
Board members and other officers (9)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerEric Jackson named Jul 8, 202623
  • Executive OfficerJason Wild named Jul 8, 202623

Timeline

  1. May 9, 2023New chief executive Ziad Ghanem becomes CEO11
  2. Mar 7, 2017Founded TerrAscend Corp. is founded2

Filings

271 filings to the SEC since October 2021: 7 annual reports, 14 quarterly reports, 54 major events, 146 insider forms, 11 large holders, 1 private raises, 38 other. The latest 20:

  1. Aug 25, 20268-K EDGAR
  2. Aug 12, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  3. Aug 6, 20268-K EDGAR
  4. Aug 6, 202610-Q EDGAR
  5. Jul 8, 2026D EDGAR
  6. Jul 6, 2026DEFA14A EDGAR
  7. Jul 6, 2026DEF 14A EDGAR
  8. Jun 29, 20268-K EDGAR
  9. Jun 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  10. Jun 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  11. Jun 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  12. Jun 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  13. Jun 25, 2026PRE 14A EDGAR
  14. Jun 25, 20268-K EDGAR
  15. Jun 25, 20264 OWNERSHIP DOCUMENT EDGAR
  16. Jun 15, 20268-K EDGAR
  17. May 7, 20268-K EDGAR
  18. May 7, 202610-Q EDGAR
  19. Apr 28, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  20. Apr 28, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR

The 271 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

60 open-market trades by officers, directors and large owners since October 2021: 52 buys and 8 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 24, 2025SCHUTTER EDWARD JDirectorSale296,174$0.44$130.3KForm 4
Nov 21, 2025SCHUTTER EDWARD JDirectorSale250,000$0.41$102.5KForm 4
Aug 27, 2025Wild Jason G.10% ownerSale8,415,414Form 4
Jul 18, 2025Stauffer KeithCFOSale52,500$0.39$20.5KForm 4
May 12, 2025SCHUTTER EDWARD JDirectorBuy1,041,021$0.39$406.0KForm 4
Dec 22, 2023JW Asset Management, LLCExecutive ChairmanBuy12,000$1.46$17.5KForm 4
Dec 18, 2023Wild Jason G.10% ownerBuy15,000$1.39$20.9KForm 4
Dec 11, 2023JW Asset Management, LLCExecutive ChairmanBuy10,000$1.53$15.3KForm 4
Dec 6, 2023JW Asset Management, LLCExecutive ChairmanBuy10,000$1.59$15.9KForm 4
Dec 4, 2023Wild Jason G.10% ownerBuy15,000$1.58$23.7KForm 4
Nov 20, 2023JW GP, LLC10% ownerBuy12,000$1.49$17.9KForm 4
Nov 17, 2023JW Partners, LP10% ownerBuy18,200$1.51$27.5KForm 4
Nov 15, 2023JW GP, LLC10% ownerBuy15,000$1.56$23.4KForm 4
Sep 28, 2023JW GP, LLC10% ownerBuy75,000$2.04$153.0KForm 4
Sep 25, 2023JW Partners, LP10% ownerBuy30,000$2.08$62.4KForm 4
Sep 22, 2023JW GP, LLC10% ownerBuy10,000$2.10$21.0KForm 4
Sep 21, 2023JW Partners, LP10% ownerBuy5,000$2.01$10.1KForm 4
Sep 20, 2023JW Partners, LP10% ownerBuy27,450$2.01$55.2KForm 4
Sep 19, 2023Wild Jason G.10% ownerBuy15,000$2.02$30.3KForm 4
Sep 18, 2023JW Asset Management, LLCExecutive ChairmanBuy25,000$2.06$51.5KForm 4

All 60 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jun 23, 2026Raised $21.8 million in a private offering of debt Form D: $25 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Sterling Capital Management LLC80$540.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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