AAWH
Ascend Wellness Holdings, Inc.0.9900
+0.2100+26.9%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
201.07MP/E (TTM)
-Basic EPS (TTM)
-0.42Dividend Yield
0%Recent Filings
10-K
FY2025 results
Ascend Wellness Holdings posted FY2025 revenue of $500.6M, down 11% y/y amid pricing pressure and competition across legacy markets like Illinois and New Jersey, yet Q4 momentum built through eight new dispensaries (totaling 47) and partner expansions adding $22M revenue. Gross margins expanded to 33.9% from cultivation efficiencies and vertical integration, with Adjusted EBITDA steady at $117M (23.4% margin). But a $17M arbitration settlement flipped operating profit to a $17M loss; net loss widened to $118M on higher interest from $300M term notes (due 2029). Cash at $86M funds $20M 2026 capex. Federal illegality threatens license-dependent momentum.
8-K
Q4 revenue dips, margins hold
Ascend Wellness Holdings reported Q4 2025 revenue of $120.5 million, down 3.4% sequentially, and full-year revenue of $500.6 million, off 10.9% from 2024 amid pricing pressures. Yet Adjusted EBITDA held flat at $116.9 million yearly, with margins expanding to 23.4% via retail densification to 48 locations and higher-margin SKUs. Strong $85.7 million cash bolsters growth. Q1 2026 eyes low-20s% EBITDA margins despite revenue dip.
8-K
Preliminary Q4/FY25 results out
Ascend Wellness Holdings issued preliminary unaudited Q4 2025 results on February 9, 2026, projecting ~$120M revenue and ~$30M Adjusted EBITDA (25% margin), with full-year 2025 at ~$500M revenue and ~$117M Adjusted EBITDA (23% margin). Balance sheet shines: $86M cash, no major debt due until 2029. But a February 5 arbitration award to Green Thumb Industries over a 2018 side letter looms; AWH disputes it, affirms liquidity covers any payout. Earnings call set for March 12.
8-K
Net $19.7M arbitration loss
Ascend Wellness Holdings lost a confidential arbitration to Green Thumb Industries on February 5, 2026, over a 2018 side letter tied to its capital raise. The arbitrator awarded GTI $22 million for Company breaches while granting Ascend $2.3 million, netting GTI $19.7 million. Company disputes the ruling. No material operational disruption expected.
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