Ascend Wellness reports record Q3 revenue ~$140M, up 15% Q/Q; names Mark Cassebaum CFO

Ascend Wellness Holdings, Inc.

2023-Q3 EPS reported -$0.15 revenue$378,432,000

Preliminary Q3 net revenue ~$140M (record, +15% Q/Q).
Adjusted EBITDA estimated at $27-29M, significant sequential growth.
Third straight quarter positive cash from operations; first quarter positive free cash flow.
Mark Cassebaum appointed CFO effective Nov 27, 2023; Dan Neville resigning Nov 10.
CFO compensation: $450K base, bonus up to 100%, one-time $135K cash, 350K RSUs vesting over 4 years.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Dan Neville

Chief Financial Officer

AAWH · Ascend Wellness Holdings, Inc.

Effective: 2023-11-10
Successor: Mark Cassebaum
Filed: October 25, 2023, 7:59 PM ET

On October 25, 2023, the Company announced that Dan Neville, the Company’s Chief Financial Officer, will be leaving the Company effective November 10, 2023.

Appointed

Mark Cassebaum

Chief Financial Officer

AAWH · Ascend Wellness Holdings, Inc.

Effective: 2023-11-27
Filed: October 25, 2023, 7:59 PM ET

On October 25, 2023, the Company announced the appointment of Mark Cassebaum as the new chief financial officer of the Company, effective November 27, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ascend Wellness Holdings, Inc. reported the quarter ended September 30, 2023 results: revenue net revenue up nearly 15% Q/Q to approximately $140 million.

Period: the quarter ended September 30, 2023
Revenue: net revenue up nearly 15% Q/Q to approximately $140 million
Result: preliminary results

Exact text from the filing

strong preliminary third quarter 2023 financial results as well as updates to its leadership team. • Record revenue for the 6th consecutive quarter, with net revenue up nearly 15% Q/Q to approximately $140 million; • Significant sequential Adjusted EBITDA 1 growth ranging from $27 to $29 million; and • Third consecutive quarter of positive Cash from

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Dan Neville departed as Chief Financial Officer at Ascend Wellness Holdings, Inc..

Action: resigning
Role: Chief Financial Officer

Exact text from the filing

On October 25, 2023, the Company announced that Dan Neville, the Company’s Chief Financial Officer, will be leaving the Company effective November 10, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Cassebaum was appointed as Chief Financial Officer at Ascend Wellness Holdings, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On October 25, 2023, the Company announced the appointment of Mark Cassebaum as the new chief financial officer of the Company, effective November 27, 2023.

View on SEC.gov

20 earnings releases filed in the last 30 days. Browse all earnings releases →

Ascend Wellness Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-035038

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