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Ascend Wellness Holdings, Inc. (AAWH) announced its participation in upcoming investor conferences, including the Needham Technology, Media, & Consumer Conference on May 16, 2024, Canaccord Genuity's Global Cannabis Conference on May 23, 2024, and the KCSA Virtual Cannabis Conference on June 5, 2024. The company's top executives will be participating in various panels and one-on-one investor meetings at these events. AWH is a multi-state cannabis operator with assets in several states, producing and distributing a variety of branded products. For more details, visit their website.
AWH ANNOUNCES Q1 2024 FINANCIAL RESULTS: Ascend Wellness Holdings, Inc. reported $142.4M Net Revenue in Q1 2024, a 25% YoY increase and 2% QoQ increase. Adjusted EBITDA was $32.5 million, a 39% YoY increase. The company generated positive cash flow. Retail revenue increased 15.1% YoY. Net loss was $18.2 million. Cash and cash equivalents were $72.9 million. AWH opened two dispensaries, secured operating agreements with two partner dispensaries, and operationalized a new facility. The company plans revenue growth of 12-15% and adjusted EBITDA increase of 17-22% compared to 2023.
Ascend Wellness Holdings, Inc. (AWH) supports the DEA's decision to move cannabis from Schedule I to Schedule III of the CSA, marking a significant step in cannabis reform. This change is expected to bring benefits like tax relief, improved access, funding opportunities, research advancements, and potential up-listing for AWH. The company looks forward to further developments and celebrates the decision's positive impact on stakeholders.