---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-037178"
form_type: "8-K"
ticker: "AAWH"
cik: "0001756390"
company_name: "Ascend Wellness Holdings, Inc."
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T16:39:11.832856+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Ascend Wellness Q3 net revenue $141.3M (+27% YoY); Adj. EBITDA $29.5M up 38.5% QoQ

## Summary
- Net revenue of $141.3M, up 27.0% YoY and 14.9% QoQ; record 6th consecutive quarterly high.
- Adjusted EBITDA of $29.5M (20.9% margin), improved 356 bps sequentially; net loss narrowed to $11.2M from $16.9M.
- Retail revenue $101.3M (+22.3% YoY); wholesale net revenue $40.0M (+40.6% YoY).
- Generated positive cash from operations for third straight quarter and first quarter of positive free cash flow.
- Cash and equivalents $63.9M; net debt $243.5M as of Sept 30, 2023.

## SEC filing metadata
- accession: 0001628280-23-037178
- form_type: 8-K
- ticker: AAWH
- cik: 0001756390
- company_name: Ascend Wellness Holdings, Inc.
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1756390/000162828023037178/0001628280-23-037178-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1756390/000162828023037178/aawh-20231107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-037178
- JSON: https://secwatch.observer/filing/0001628280-23-037178.json
- Plain text: https://secwatch.observer/filing/0001628280-23-037178.txt

## Key facts
- Earnings Releases
  Ascend Wellness Holdings, Inc. reported quarter ended September 30, 2023 results: revenue $141.3 million, net income Net loss of $11.2 million.
  - Period: quarter ended September 30, 2023
  - Revenue: $141.3 million
  - Net income: Net loss of $11.2 million
  - Result: reported results
  source text: Q3 2023 Financial Highlights • Gross revenue increased 26.6% year-over-year and 12.5% quarter-over-quarter to $169.9 million. • Net revenue, which excludes intercompany sales of wholesale products, increased 27.0% year-over-year and 14.9% quarter-over-quarter to $141.3 million. • Retail revenue increased 22.3% year-over-year and 12.7% quarter-over-quarter to $101.3 million. • Gross wholesale revenue increased 33.4% year-over-year and 12.2% quarter-over-quarter to $68.7 million. Wholesale revenue, net of intercompany sales, increased 40.6% year-over-year and 20.7% quarter-over-quarter to $40.0 million. • Net loss of $11.2 million during the quarter represented an improvement compared to $16.9 million in Q3 2022. • Adjusted EBITDA 2 was $29.5 million, representing a 20.9% margin. Adjusted EBITDA improved 38.5% and Adjusted EBITDA margin improved by 356 basis points quarter-over-quarter. Adjusted EBITDA increased 6% and margins declined 406 basis points year-over-year. • As of September 3
  evidence_url: https://www.sec.gov/Archives/edgar/data/1756390/000162828023037178/0001628280-23-037178-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.