We propose TerraFlow, a novel approach to multimodal, multitemporal learning for Earth observation. TerraFlow builds on temporal training objectives that enable sequence-aware learning across space, time, and modality, while remaining robust to the variable-length inputs commonly encountered in real-world Earth observation data. Our experiments demonstrate superiority of TerraFlow over state-of-the-art foundation models for Earth observation across all temporal tasks of the GEO-Bench-2 benchmark. We additionally demonstrate that TerraFlow is able to make initial steps towards deep-learning based risk map prediction for natural disasters -- a task on which other state-of-the-art foundation models frequently collapse. TerraFlow outperforms state-of-the-art foundation models by up to 50% in F1 score and 24% in Brier score.