Ascend Wellness Q4 net revenue down 6.2% QoQ to $88.5M; full year revenue up 131% to $332.4M

Ascend Wellness Holdings, Inc.

Q4 2021 net loss of $16.5M vs. $13.0M in Q3 2021; full year loss of $122.7M includes $32M non-cash IPO interest expense.
Adjusted EBITDA Q4 $19.8M (22.3% margin), down 16% QoQ; full year Adjusted EBITDA $79.4M, up 157.6% YoY.
Cash and equivalents $155.5M as of Dec 31, 2021; net debt $103.3M after $210M senior debt financing.
CEO cites Q4 competitive conditions and a 'pause' as new assets come online; eyes New Jersey adult-use market.
Grew dispensary count to 20, doubled cultivation capacity, and entered Ohio market during 2021.

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