Filing Flows › TerrAscend (TSNDF) › Q1 2026
TerrAscend (TSNDF) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
TerrAscend (TSNDF) reported revenue of $65.5M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -0.9% from the quarter before. Operating margin was 17.6%, net loss $6.9M (10.6% of revenue).
TerrAscend, Q1 2026: revenue $65.5M (+2% year over year), operating margin 17.6%, net loss $6.9M, operating cash flow $8.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $65.5M | -0.9% | +2% |
| Operating profit | $11.5M | +50% | +33% |
| Net earnings | −$6.9M | -293% | — |
| Operating cash flow | $8.5M | +6% | +6% |
| Free cash flow | $7.6M | +21% | +35% |
What changed
Revenue was $65.5M in Q1 2026, up 2% year over year and down 1% from the previous quarter.
Gross margin was 52.8%, down 1.1 points from Q1 2025. Operating profit was $11.5M, a 17.6% margin (down 1.5 points year over year). Operating profit fell $722K even though revenue rose $1.2M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 3% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+23%). The quarter ended with a net loss of $6.9M, after a profit of $4.7M the previous quarter. Net interest and other expense of $8.2M was the main reason.
Operating cash flow was $8.5M (up 6% year over year). Non-cash charges added back $1.5M of depreciation and amortization and $885K of share-based compensation. Working capital and other items added $13.0M. Capital expenditures of $865K left free cash flow of $7.6M.
Questions
What was TerrAscend's revenue in the first quarter 2026?
TerrAscend (TSNDF) reported revenue of $65.5M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -0.9% from the quarter before.
Was TerrAscend profitable in the first quarter 2026?
Operating profit was $11.5M (17.6% of revenue) and net loss $6.9M.
Source: TerrAscend 10-Q on SEC EDGAR.