Welcome to our dedicated page for Ascend Wellness news (Ticker: AAWH), a resource for investors and traders seeking the latest updates and insights on Ascend Wellness stock.
Ascend Wellness Holdings (AAWH) is a vertically integrated cannabis operator with cultivation, manufacturing, and retail facilities across seven U.S. states. This page provides investors and industry stakeholders with timely updates on corporate developments, financial performance, and market positioning.
Access official press releases and third-party analysis covering earnings reports, regulatory compliance milestones, product launches, and strategic partnerships. Our curated collection simplifies tracking AAWH's growth in medical and adult-use cannabis markets while maintaining strict compliance with financial disclosure standards.
Key updates include expansion announcements, operational efficiency improvements, and leadership changes. All content is verified for accuracy and relevance to support informed analysis of this multi-state operator's market trajectory.
Bookmark this page for streamlined access to AAWH's evolving story in the competitive cannabis sector. Check regularly for new developments impacting the company's operational footprint and industry standing.
Ascend Wellness Holdings (AAWH) reported record financial results for Q4 and FY 2022, achieving a 26.7% year-over-year increase in net revenue to $112.1 million for Q4 and a 22.1% increase to $405.9 million for the full year. The company's adjusted EBITDA rose 42.7% year-over-year to $28.2 million in Q4, with a margin of 25.1%. Despite a net loss of $15.1 million in Q4, it was an improvement from $16.9 million in Q3. The company ended the year with $74.1 million in cash and expanded its cultivation capacity by 40%. AWH opened four new dispensaries during 2022, increasing its total to 24.
Ascend Wellness Holdings, Inc. (CSE: AAWH.U) announced a conference call for March 14, 2023, at 5:00 PM ET to discuss its fourth quarter and full year 2022 financial results. The call will feature leadership including Executive Chairman Abner Kurtin, CFO Dan Neville, and President Frank Perullo. Investors can access the call by dialing 1 (888) 390-0605 using conference ID: 91989477. A live audio webcast will also be available on the AWH investor relations website, with a replay option provided for a limited time following the call.
Ascend Wellness Holdings (CSE: AAWH.U) has opened its first outlet dispensary in Massachusetts, located in New Bedford, marking its third overall outlet after successful launches in Pennsylvania. The dispensary boasts 5,200 square feet and will offer a full range of adult-use cannabis products, including flower, edibles, and vapes. Positioned conveniently near I-95, it aims to serve both Massachusetts and Rhode Island residents, particularly benefiting summer visitors to Cape Cod. The company emphasizes accessible, affordable high-quality cannabis products. Ascend New Bedford operates daily from 10 am to 7 pm.
Ascend Wellness Holdings (CSE: AAWH.U) has entered a definitive agreement to acquire four operating dispensaries in Maryland from Devi Holdings for $19 million. This transaction includes $12 million in cash and $7 million in stock, significantly expanding AWH's footprint into its seventh state. Maryland's mature medical cannabis market, with sales projected to reach $1 billion by 2024, presents an opportunity for growth, especially with the recent legalization of adult-use cannabis. AWH aims to leverage this expansion strategy, similar to its success in states like New Jersey and Illinois.
Ascend Wellness Holdings, Inc. (CSE: AAWH.U; OTCQX: AAWH) announced its participation in key upcoming cannabis conferences. Daniel Neville, CFO and Interim Co-CEO, will engage in a panel at the Wolfe Virtual Conference on December 5, 2022, and another at the Cowen 5th Annual Cannabis Conference on December 7, 2022. Additionally, both Neville and Rebecca Koar, SVP of Investor Relations, will be present at ATB's 11th Annual Institutional Conference on January 12, 2023. AWH operates in multiple states, producing award-winning cannabis products under various brands.
Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH) has announced changes to its Board of Directors as part of an ongoing leadership transition. Effective immediately, Dan Neville and Joshua Gold are appointed to the Board, while Emily Paxhia has resigned. Gold will chair the Audit Committee and serve on others, whereas Scott Swid will chair the Compensation & Corporate Governance Committee. Paxhia's resignation is not due to disagreements with the company. The leadership changes aim to enhance governance as Ascend continues to operate across multiple states in the cannabis sector.
On November 22, 2022, Ascend Wellness Holdings (AAWH) filed a registration statement on Form S-3 with the SEC, aiming to qualify up to $100 million in securities, including Class A common stock and debt securities. Although there are no immediate plans for issuance, the company seeks to remain flexible for future financing opportunities. The registration allows for capital raising in U.S. and Canadian markets, enhancing shareholder prospects as conditions evolve. The SEC's review process will determine the statement's effectiveness.
Ascend Wellness Holdings has launched recreational cannabis sales at its flagship Fort Lee location in New Jersey, effective November 17, 2022. This is the company's third dispensary for adult-use sales in the state, following openings in Rochelle Park and Montclair. Strategically located near New York City, Fort Lee features over 4,000 square feet of retail space and 45 parking spots. The dispensary operates on an appointment-only basis while offering special services for medical patients. Interim co-CEO Frank Perullo expressed enthusiasm for broadening access to cannabis through this new outlet.
Ascend Wellness Holdings reported record financial performance for Q3 2022, achieving $111.2 million in net revenue, a 14.1% increase quarter-over-quarter and a 17.9% increase year-over-year. The company also recorded an Adjusted EBITDA of $27.8 million, representing a margin of 25.0% and a margin expansion of 354 basis points from the previous quarter. Despite a net loss of $16.9 million, Ascend continues to expand its footprint with new dispensaries and increased wholesale capabilities.
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