Ascend Wellness Q3 net revenue $111.2M (+14% QoQ); adjusted EBITDA $27.8M, 25% margin, +354bps

Ascend Wellness Holdings, Inc.

2022-Q3 EPS reported -$0.36 revenue$293,827,000

Net revenue $111.2M, up 14.1% QoQ and 17.9% YoY; gross revenue $134.3M.
Net loss narrowed to $16.9M from $21.2M in Q2 2022.
Adjusted EBITDA $27.8M (25.0% margin), expanding 354 bps sequentially.
Cash and equivalents $91.4M; net debt $219.0M as of Sept 30, 2022.
Started adult-use sales at Montclair, NJ; opened Fort Lee dispensary and Franklin kitchen for edibles.

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