Ascend Wellness Stock Price, News & Analysis

Ascend Wellness Holdings reported Q1 2022 net revenue of $85.1 million, a 3.8% decline from the previous quarter but a 28.7% increase year-over-year. Gross revenue totaled $101.2 million, reflecting a 0.8% quarter-over-quarter decrease and a 33.4% annual growth. The net loss widened to $27.8 million compared to $16.5 million in Q4 2021. Adjusted EBITDA stood at $16.4 million, down 17.1% quarter-over-quarter. The company expanded its operations into Pennsylvania and launched adult-use sales in New Jersey, marking a significant growth opportunity.

Ascend Wellness Holdings, Inc. (AWH) has signed a term sheet to resolve a lawsuit against MedMen NY, Inc., agreeing to acquire a 99.99% stake in MedMen NY. AWH will increase the transaction value by $15 million, bringing the total to $88 million, which remains below recent comparable deals. AWH will pay $74 million at closing, including a prior deposit, and an additional $14 million upon the first sale of adult-use cannabis. This acquisition marks AWH's entry into New York, enhancing its presence in the cannabis market.

Ascend Wellness Holdings (CSE: AAWH.U, OTCQX: AAWH) announced its participation in two upcoming virtual cannabis conferences. CEO Abner Kurtin will join the 6th Annual Canaccord Genuity Cannabis Conference for a fireside chat on May 11, 2022, at 8:00 am ET. The event can be accessed here. Kurtin will also participate in the Wolfe Research Virtual Consumer Conference on May 13, 2022, at 12:55 pm ET, alongside industry leaders.

Ascend Wellness Holdings, Inc. (AAWH) announced a conference call for May 11, 2022, at 5:00 PM ET to discuss its first-quarter 2022 financial results. Investors can access the call by dialing 1 (888) 390-0605 with conference ID 72077468. A live audio webcast will also be available on AWH's Investor Relations website, where a replay will be archived. AWH operates in several states including Illinois, Michigan, and New Jersey, focusing on producing cannabis products and maintaining cultivation facilities.

Ascend Wellness Holdings, Inc. (CSE: AAWH.U) has launched recreational cannabis sales at its Rochelle Park, New Jersey dispensary, catering to both adult-use and medical consumers. Following approval from the New Jersey Cannabis Regulatory Commission, the dispensary offers a separate menu for adult-use customers, featuring various products. Customers must reserve shopping appointments, while medical patients receive dedicated services, ensuring their priority. This expansion is part of AWH's strategy to serve the growing cannabis market in New Jersey effectively.

Ascend Wellness Holdings (AAWH) has completed a roll-up transaction, consolidating its ownership of Story of PA CR, LLC, a key player in Pennsylvania's medical marijuana market. Following the acquisition, Story has received a Clinical Registrant Permit, allowing it to open one cultivation facility and six dispensaries in the state. AWH will invest approximately $55 million in total consideration, including cash and shares, to support an extensive cultivation operation and contribute to clinical research alongside Geisinger Commonwealth School of Medicine, enhancing access to medical marijuana for Pennsylvania patients.

Ascend Wellness Holdings (AAWH) has announced its approval to serve adult-use consumers in New Jersey, becoming one of the first operators to enter this market. The flagship Ascend Rochelle Park dispensary will begin sales shortly, with additional locations in Montclair and Fort Lee planned. AWH currently operates two medical dispensaries and will expand its cultivation facility to 100,000 square feet by the end of 2023, anticipating a market exceeding $2 billion by 2025. The company aims to hire locally, creating jobs as demand for cannabis increases.

Ascend Wellness Holdings, Inc. (CSE: AAWH.U, OTCQX: AAWH) announced its participation in two major cannabis conferences. CEO Abner Kurtin will engage in a fireside chat at the BTIG Global Cannabis Conference on April 7 at 11:20 am ET and host one-on-one investor meetings. Additionally, Kurtin and VP of Investor Relations Rebecca Koar will meet with investors at the Benzinga Cannabis Capital Conference on April 20-21 in Miami Beach, Florida. AWH operates cultivation facilities across several states, producing award-winning cannabis products.

Miss Grass has partnered with AWH to distribute its premium cannabis products in Massachusetts and Illinois. The distribution begins today, March 22, 2022, in Massachusetts, with Illinois set to follow later this year. The collaboration aligns with Miss Grass's mission to promote conscious cannabis consumption through education. The initial product rollout includes three types of .4g Mini pre-rolls tailored for specific effects, tapping into the booming cannabis markets that generated up to $2 billion in recreational sales in 2021.