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TerrAscend vs iANTHUS Capital Holdings: TSNDF and ITHUF compared
TerrAscend is the larger company: $68.2M of revenue in its latest quarter (Q3 2026) against $35.3M for iANTHUS Capital Holdings (Q2 2026). TerrAscend is growing faster (+5% against +0.5% a year earlier). TerrAscend is more profitable, with an operating margin of 15.1% against -6.4%.
Where the money goes: TSNDF and ITHUF
TerrAscend (TSNDF) · Q3 2026
TerrAscend, Q3 2026: revenue $68.2M (+5% year over year), operating margin 15.1%, net loss $4.3M, operating cash flow $8.8M. The chart follows the revenue to costs, profit and cash.
iANTHUS Capital Holdings (ITHUF) · Q2 2026
iANTHUS Capital Holdings, Q2 2026: revenue $35.3M (+0.5% year over year), operating margin -6.4%, net loss $14.4M, operating cash flow $761K. The chart follows the revenue to costs, profit and cash.
| TerrAscend (TSNDF) | iANTHUS Capital Holdings (ITHUF) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $68.2M | $35.3M |
| Revenue growth, Y/Y | +5% | +0.5% |
| Operating margin | 15.1% | -6.4% |
| Net earnings | −$4.3M | −$14.4M |
| Net margin | -6.4% | -40.8% |
| Operating cash flow | $8.8M | $761K |
| Free cash flow | $6.1M | — |
Where the revenue comes from
TerrAscend
- New Jersey Segment: $25.3M (37%)
- Maryland Segment: $18.7M (27%)
- Pennsylvania Segment: $18.6M (27%)
- All Other Segments: $5.5M (8%)
iANTHUS Capital Holdings
- Ianthus Branded Products: $15.6M (44%)
- Third Party Branded Products: $11.6M (33%)
- Wholesale Bulk Other Products: $8.2M (23%)
Questions
Which is bigger, TerrAscend or iANTHUS Capital Holdings?
TerrAscend is the larger company: $68.2M of revenue in its latest quarter (Q3 2026) against $35.3M for iANTHUS Capital Holdings (Q2 2026).
Is TerrAscend or iANTHUS Capital Holdings growing faster?
TerrAscend is growing faster (+5% against +0.5% a year earlier).
Which is more profitable, TerrAscend or iANTHUS Capital Holdings?
TerrAscend is more profitable, with an operating margin of 15.1% against -6.4%.
More: TerrAscend earnings · how TerrAscend makes money · iANTHUS Capital Holdings earnings · how iANTHUS Capital Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 12, 2026). Fiscal quarters can end on different dates. Not investment advice.