04:38 PM EDT, 03/12/2026 (MT Newswires) -- TerrAscend ( TSNDF ) on Thursday reported a loss in the fourth quarter as revenue declined.

The cannabis company's loss from continuing operations for the fourth quarter of 2025 was US$0.5 million, compared with a loss of US$9.9 million in the third quarter of 2025.

Net revenue for the three months ended Dec. 31 fell 11% year over year to US$66.1 million from US$74.1 million in the same period in 2024. The figure exceeded FactSet analysts' estimates of US$64.4 million.

"I am pleased to report another period of strong performance in our core Northeast markets of New Jersey, Maryland, and Pennsylvania. Importantly, for the fourth quarter and full year periods our gross margin from continuing operations was above 52% and our Adjusted EBITDA margin from continuing operations was above 25%," said executive chair Jason Wild.

The company reported an adjusted EBITDA from continuing operations of $16.7 million in Q4, compared to $17.0 million in Q3 2025.

TSND's shares closed down C$0.03 to $0.88 on Toronto Stock Exchange on Wednesday.