---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-010368"
form_type: "8-K"
ticker: "AAWH"
cik: "0001756390"
company_name: "Ascend Wellness Holdings, Inc."
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:08:31.136522+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Q4 net revenue $140M (+25% YoY), adjusted EBITDA $32M; first full year positive ops cash flow

## Summary
- Q4 2023 net revenue $140.2M, up 25.0% YoY; full year net revenue $518.6M, up 27.8% YoY.
- Net loss narrowed to $48.2M in FY 2023 from $80.9M in FY 2022; Q4 net loss $19.3M.
- Adjusted EBITDA Q4 $32.4M (+14.8% YoY); full year $106.5M (+14.3% YoY).
- First full year of positive cash from operations ($54.5M) and positive free cash flow ($30.3M, excl. $20.8M ERTC).
- Ended Q4 with $72.5M cash; net debt $236.2M; opened 6 dispensaries in 2023, total now 35.

## SEC filing metadata
- accession: 0001628280-24-010368
- form_type: 8-K
- ticker: AAWH
- cik: 0001756390
- company_name: Ascend Wellness Holdings, Inc.
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1756390/000162828024010368/0001628280-24-010368-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1756390/000162828024010368/aawh-20240312.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-010368
- JSON: https://secwatch.observer/filing/0001628280-24-010368.json
- Plain text: https://secwatch.observer/filing/0001628280-24-010368.txt

## Key facts
- Earnings Releases
  Ascend Wellness Holdings, Inc. reported FY2023 results: net income $48.2 million loss.
  - Period: FY2023
  - Net income: $48.2 million loss
  - Result: reported results
  source text: FY 2023: Net revenue increased 27.8% year-over year to $518.6 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1756390/000162828024010368/0001628280-24-010368-index.htm
- Earnings Releases
  Ascend Wellness Holdings, Inc. reported FY2023 results: net income $48.2 million loss.
  - Period: FY2023
  - Net income: $48.2 million loss
  - Result: reported results
  source text: FY 2023: Net loss of $48.2 million compared to net loss of $80.9 million for FY 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1756390/000162828024010368/0001628280-24-010368-index.htm
- Earnings Releases
  Ascend Wellness Holdings, Inc. reported Q4 FY2023 results: net income $19.3 million loss.
  - Period: Q4 FY2023
  - Net income: $19.3 million loss
  - Result: reported results
  source text: Q4 2023: Net revenue, which excludes intercompany sale of wholesale products, decreased 0.8% quarter-over-quarter to $140.2 million, and increased 25.0% year-over year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1756390/000162828024010368/0001628280-24-010368-index.htm
- Earnings Releases
  Ascend Wellness Holdings, Inc. reported Q4 FY2023 results: net income $19.3 million loss.
  - Period: Q4 FY2023
  - Net income: $19.3 million loss
  - Result: reported results
  source text: Q4 2023: Net loss of $19.3 million compared to net loss of $15.1 million in Q4 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1756390/000162828024010368/0001628280-24-010368-index.htm

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