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, Inc. (AWH) (CSE: AAWH.U, OTCQX: AAWH) is a vertically integrated, multi-state cannabis operator whose news flow centers on retail expansion, branded product launches, and financial performance. As a cannabis company with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania, AWH regularly issues updates that reflect developments across its cultivation, manufacturing, and retail operations.
News about AWH often highlights the opening of new dispensaries and partner locations. Recent examples include the launch of a new dispensary in Englewood, Ohio, which serves both medical patients and non-medical customers, and the approval and build-out of a partner store in Little Falls, New Jersey under Assembly Bill A4151. These announcements typically describe how new stores fit into the company’s densification strategy and expand its retail footprint in regulated markets.
Investors and industry followers will also see recurring coverage of AWH’s quarterly financial results, reported under U.S. GAAP and supplemented by non-GAAP metrics such as Adjusted EBITDA, Adjusted Gross Profit, Net Debt, and Free Cash Flow. Earnings releases discuss revenue trends across retail and wholesale channels, margin performance, cost-saving initiatives, and capital structure actions such as refinancings, mortgage loans, and senior secured note offerings.
Another key theme in AWH news is brand and product innovation. The company provides updates on the rollout of in-house brands like High Wired, Effin', Ozone, Ozone Reserve, Simply Herb, Common Goods, Honor Roll, and Royale, along with new SKUs across vapes, infused flower, pre-rolls, and gummies. AWH also issues announcements about its digital initiatives, including the launch of a fully refreshed e-commerce ecosystem, the Ascend Dispensary App, Ascend Pay, and the Ascenders Club loyalty program.
For readers tracking AAWH news, this page aggregates press releases on store openings, partnerships, financial results, capital markets transactions, technology upgrades, and social equity initiatives, offering a consolidated view of the company’s operational and strategic updates over time.
Ascend Wellness Holdings (AAWH) announced a leadership transition on September 28, 2022, appointing CFO Daniel Neville and President Frank Perullo as Interim Co-CEOs while the Board searches for a permanent CEO. The Board retained Russell Reynolds to assist in this search as they prepare for the next phase of growth. Founder Abner Kurtin will now serve as Executive Chairman. The Board expressed confidence in Neville and Perullo's capabilities to guide the company during this transition, emphasizing AWH's strong foundation in the cannabis industry.
Ascend Wellness Holdings (AAWH) announced various initiatives aimed at supporting cannabis expungement efforts, including a total of $2 million in donations. The company is hosting expungement clinics across the U.S., starting with an event in Montclair, New Jersey this October. AWH's Ascend Foundation has contributed over $65,000 to equity organizations and surpassed $1.8 million in donations to the Last Prisoner Project, aiding individuals with cannabis convictions. These actions demonstrate AWH's commitment to social justice and community support in the cannabis industry.
Ascend Wellness Holdings, Inc. (CSE: AAWH.U, OTCQX: AAWH) is investigating allegations against CEO Abner Kurtin regarding a domestic-related misdemeanor. The Board of Directors, through its Compensation and Corporate Governance Committee, is conducting the investigation with independent legal counsel. Although the Company cannot comment further, it is treating the matter seriously and will continue to evaluate the situation as it develops to ensure operational stability.
Ascend Wellness Holdings, Inc. (AAWH) announced the launch of recreational cannabis sales at its second New Jersey dispensary, Ascend Montclair, starting today. This follows the successful opening in Rochelle Park on April 21. The Montclair location offers a dedicated adult-use menu and special services for medical patients, including a medical express lane and designated shopping hours. Frank Perullo, President of AWH, expressed excitement about serving the Montclair community amid signs of a thriving adult-use market in New Jersey. The dispensary is open daily from 8 am to 8 pm.
Ascend Wellness Holdings reported record revenue of $117.7 million in Q2 2022, a 16.2% quarter-over-quarter increase. Net revenue rose by 14.6% to $97.5 million, fueled by strong retail growth of 19.4% to $75.6 million and an impressive adjusted EBITDA margin expansion of 220 basis points to 21.4%. The net loss decreased to $21.2 million from $27.8 million in Q1 2022. Notable operational milestones include the launch of adult-use sales in New Jersey and expansions in Michigan, Ohio, and Pennsylvania, solidifying AWH's position as a leading cannabis operator.
Ascend Wellness Holdings (AAWH) announced a definitive agreement to acquire Ohio Patient Access LLC, which is set to operate three dispensaries in Cincinnati, Piqua, and Sandusky. This move would expand AWH's footprint in Ohio to five dispensaries, the maximum allowed in the state. The CEO highlighted the strategic importance of growing in populous markets and the potential for adult-use cannabis sales in Ohio. Currently, AWH operates two dispensaries in Ohio and has a cultivation facility. Ohio's medical cannabis sales reached $381 million in 2021, marking a 72% increase from the previous year.
Ascend Wellness Holdings has officially opened its third medical dispensary in New Jersey, located in Fort Lee. The new facility spans over 3,400 square feet and features 29 registers to enhance efficiency. This expansion aims to meet the increasing demand for cannabis in the region and is strategically positioned across the Hudson River from New York City. Ascend Fort Lee will offer a full menu of cannabis products and is planning to transition to adult-use sales later this fall to serve both medical patients and recreational consumers.
Ascend Wellness Holdings, Inc. (AAWH) is set to hold a conference call on August 15, 2022, at 5:00 PM ET, to discuss its second quarter 2022 financial results following market close. Investors can join by dialing 1 (888) 390-0605 with the conference ID 06364687. A live audio webcast will also be available on the company's Investor Relations page. AWH operates in several states including Illinois, Michigan, and New Jersey, producing a range of cannabis products.
Ascend Wellness Holdings (AAWH) announced that its directors, Emily Paxhia, Scott Swid, and Joseph Hinrichs, collectively purchased approximately 60,352 Class A Common Shares between July 5 and July 6, 2022. This follows earlier purchases by CEO Abner Kurtin and President Frank Perullo. The company reassured stakeholders about its growth prospects despite market challenges, with the Board expressing confidence in Ascend's trajectory and the cannabis industry.
Ascend Wellness Holdings announced the purchase of 50,000 Class A Common Shares by AGP Partners, LLC at $2.05 per share on July 1, followed by 1,100 shares at $1.90 on July 4. AGP is associated with CEO Abner Kurtin and President Frank Perullo. Kurtin expressed confidence in AWH's future, leveraging current market conditions for strategic stock purchases while focusing on growth initiatives and financial performance, despite capital challenges.