Ascend Wellness Holdings Inc (AAWH)

Name: Ascend Wellness Holdings Inc Financial Statements
Creator: Quarter Results

Healthcare | Drug Manufacturers Specialty Generic

Latest reporting period: 2025-12-31

Latest Quarter

2025-12-31

Revenue

$121M

Net Income

-$48.7M

Operating Margin

9.9%

Free Cash Flow

$12.0M

Debt / Assets

105.1%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Ascend Wellness Holdings Inc (AAWH).
Income Statement (Quarterly)	2025-12-31	2025-09-30	2025-06-30	2025-03-31
Revenue	120,546,000	124,734,000	127,304,000	127,997,000
Cost of Revenue	75,420,000	81,133,000	85,912,000	88,436,000
Gross Profit	45,126,000	43,601,000	41,392,000	39,561,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	45,297,000	44,926,000	33,128,000	37,075,000
Operating Expenses	28,498,000	44,926,000	42,394,000	37,075,000
Operating Income	11,930,000	-1,325,000	-1,002,000	2,486,000
Interest Expense	15,484,000	12,562,000	11,932,000	11,190,000
Income Before Tax	-32,466,000	-13,546,000	-12,576,000	-8,227,000
Income Tax Expense	16,237,000	12,279,000	11,831,000	11,031,000
Net Income	-48,703,000	-25,825,000	-24,407,000	-19,258,000
Per Share
EPS	-0.24	-0.13	-0.12	-0.09
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Ascend Wellness Holdings Inc (AAWH).
Income Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	500,581,000	561,599,000	518,590,000	405,926,000	332,381,000
Cost of Revenue	330,901,000	377,389,000	363,470,000	271,363,000	196,409,000
Gross Profit	169,680,000	184,210,000	155,120,000	134,563,000	135,972,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	129,391,000	144,481,000	129,431,000	122,649,000	106,024,000
Operating Expenses	186,692,000	179,476,000	158,739,000	136,744,000	116,060,000
Operating Income	12,089,000	4,734,000	-3,619,000	-1,425,000	-17,204,000
Interest Expense	51,168,000	39,788,000	36,984,000	30,256,000	63,989,000
Income Before Tax	-66,815,000	-39,822,000	-14,760,000	-39,206,000	-80,937,000
Income Tax Expense	51,378,000	45,172,000	33,454,000	41,693,000	41,720,000
Net Income	-118,193,000	-84,994,000	-48,214,000	-80,899,000	-122,657,000
Per Share
EPS	-0.58	-0.40	-0.24	-0.44	-0.82
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Ascend Wellness Holdings Inc (AAWH).
Balance Sheet (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Assets
Cash and Cash Equivalents	85,676,000	88,254,000	72,508,000	74,146,000
Short Term Investments	0	0	9,302,000	3,170,000
Net Receivables	27,557,000	45,348,000	43,548,000	17,524,000
Inventory	84,707,000	89,552,000	95,294,000	97,532,000
Total Current Assets	170,383,000	229,376,000	228,860,000	198,743,000
Property Plant Equipment	429,465,000	399,528,000	398,638,000	388,670,000
Goodwill and Intangibles	254,525,000	255,101,000	268,990,000	265,463,000
Total Assets	907,929,000	900,431,000	919,550,000	872,160,000
Liabilities
Account Payables	20,912,000	26,414,000	34,687,000	17,065,000
Short Term Debt	18,833,999	79,350,000	14,808,000	13,962,000
Total Current Liabilities	109,009,000	144,541,000	92,686,000	110,949,000
Long Term Debt	613,563,000	501,763,000	557,456,000	549,113,000
Total Liabilities	954,546,000	828,630,000	776,678,000	708,745,000
Shareholders Equity
Retained Earnings	-518,549,000	-400,356,000	-315,362,000	-267,148,000
Total Shareholders Equity	-47,440,000	70,978,000	142,872,000	163,415,000

Balance sheet annual history for Ascend Wellness Holdings Inc (AAWH).
Balance Sheet (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets
Cash and Cash Equivalents	85,676,000	88,254,000	72,508,000	74,146,000	155,481,000
Short Term Investments	0	0	9,302,000	3,170,000	0
Net Receivables	27,557,000	45,348,000	43,548,000	17,524,000	12,112,000
Inventory	84,707,000	89,552,000	95,294,000	97,532,000	65,588,000
Total Current Assets	170,383,000	229,376,000	228,860,000	198,743,000	258,012,000
Property Plant Equipment	429,465,000	399,528,000	398,638,000	388,670,000	343,614,000
Goodwill and Intangibles	254,525,000	255,101,000	268,990,000	265,463,000	102,238,000
Total Assets	907,929,000	900,431,000	919,550,000	872,160,000	723,436,000
Liabilities
Account Payables	20,912,000	26,414,000	34,687,000	17,065,000	5,536,000
Short Term Debt	18,833,999	79,350,000	14,808,000	13,962,000	30,605,000
Total Current Liabilities	109,009,000	144,541,000	92,686,000	110,949,000	117,395,000
Long Term Debt	613,563,000	501,763,000	557,456,000	549,113,000	428,141,000
Total Liabilities	954,546,000	828,630,000	776,678,000	708,745,000	546,959,000
Shareholders Equity
Retained Earnings	-518,549,000	-400,356,000	-315,362,000	-267,148,000	-186,249,000
Total Shareholders Equity	-47,440,000	70,978,000	142,872,000	163,415,000	176,477,000

Cash flow quarterly history for Ascend Wellness Holdings Inc (AAWH).
Cash Flow Statement (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Operating Activities
Net Income	-118,193,000	-84,994,000	-48,214,000	-80,899,000
Depreciation & Amortization	0	68,122,000	60,036,000	38,242,000
Stock Based Compensation	0	18,614,000	18,344,000	18,979,000
Change in Working Capital	64,077,000	63,322,000	26,176,000	-31,138,000
Operating Cash Flow	38,053,000	73,292,000	75,334,000	-38,356,000
Investing Activities
Capital Expenditure	-26,009,000	-35,234,000	-40,191,000	-125,894,000
Investments	0	0	-40,191,000	-125,894,000
Investing Cash Flow	-45,736,000	-37,196,000	-59,890,000	-114,254,000
Financing Activities
Debt Repayment	8,095,000	735,000	-23,557,000	-3,212,000
Common Stock Issued/Repurchased	-2,171,000	-2,751,000	6,475,000	-5,229,000
Dividends Paid	0	0	0	0
Financing Cash Flow	5,105,000	-20,350,000	-17,082,000	71,275,000
Summary
Free Cash Flow	12,044,000	38,058,000	35,143,000	-164,250,000
Net Change in Cash	-2,578,000	15,746,000	-1,638,000	-81,335,000

Cash flow annual history for Ascend Wellness Holdings Inc (AAWH).
Cash Flow Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Activities
Net Income	-118,193,000	-84,994,000	-48,214,000	-80,899,000	-122,657,000
Depreciation & Amortization	0	68,122,000	60,036,000	38,242,000	23,578,000
Stock Based Compensation	0	18,614,000	18,344,000	18,979,000	23,093,000
Change in Working Capital	64,077,000	63,322,000	26,176,000	-31,138,000	-32,843,000
Operating Cash Flow	38,053,000	73,292,000	75,334,000	-38,356,000	-41,738,000
Investing Activities
Capital Expenditure	-26,009,000	-35,234,000	-40,191,000	-125,894,000	-88,428,000
Investments	0	0	-40,191,000	-125,894,000	-88,428,000
Investing Cash Flow	-45,736,000	-37,196,000	-59,890,000	-114,254,000	-113,233,000
Financing Activities
Debt Repayment	8,095,000	735,000	-23,557,000	-3,212,000	-79,267,000
Common Stock Issued/Repurchased	-2,171,000	-2,751,000	6,475,000	-5,229,000	86,065,000
Dividends Paid	0	0	0	0	0
Financing Cash Flow	5,105,000	-20,350,000	-17,082,000	71,275,000	252,355,000
Summary
Free Cash Flow	12,044,000	38,058,000	35,143,000	-164,250,000	-130,166,000
Net Change in Cash	-2,578,000	15,746,000	-1,638,000	-81,335,000	97,384,000