8-K
filed May 7, 2024, 7:59 PM ET
ticker AAWH
CIK 0001756390
earnings
confidence high
sentiment positive
materiality 0.70
Ascend Wellness Q1 net revenue $142.4M (+25% YoY); Adj. EBITDA $32.5M (+39% YoY)
Ascend Wellness Holdings, Inc.
2024-Q1 EPS reported
-$0.09
revenue$142,410,000
- Gross revenue $174.2M (+23.4% YoY); net loss $18.2M vs $18.5M a year ago.
- Wholesale net revenue $47.2M (+50.2% YoY); retail revenue $95.2M (+15.1% YoY).
- Generated $3.9M operating cash flow, fifth consecutive positive quarter.
- Cash $72.9M, net debt $237.6M as of March 31, 2024.
- Annual meeting elected six directors and ratified Macias Gini & O'Connell LLP as auditor.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Ascend Wellness Holdings, Inc. reported Q1 2024 (three months ended March 31, 2024) results: revenue $142.4 million, net income Net loss of $18.2 million.
- Period
- Q1 2024 (three months ended March 31, 2024)
- Revenue
- $142.4 million
- Net income
- Net loss of $18.2 million
- Result
- reported results
Exact text from the filing
Q1 2024 Financial Highlights • Gross revenue increased 23.4% year-over-year and 0.6% quarter-over-quarter to $174.2 million. • Net revenue, which excludes intercompany sales of wholesale products, increased 24.7% year-over-year and 1.6% quarter-over-quarter to $142.4 million. • Retail revenue increased 15.1% year-over-year and decreased 2.2% quarter-over-quarter to $95.2 million. • Gross wholesale revenue increased 35.2% year-over-year and 4.2% quarter-over-quarter to $79.0 million. Wholesale revenue, net of intercompany sales, increased 50.2% year-over-year and 10.2% quarter-over-quarter to $47.2 million. • Net loss of $18.2 million during the quarter compared to $18.5 million in Q1 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Ascend Wellness Holdings, Inc. shareholders approved Election of six directors to serve until 2025 Annual Meeting at the 2024-05-03 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2024-05-03
Exact text from the filing
Proposal 1: Election of Directors The following six (6) nominees, unanimously recommended by the Board, each of whom were named in the Proxy Statement, were elected to serve on the Board to hold office until the 2025 Annual Meeting of Stockholders or until their successors are duly elected and qualified, based on the following votes: Directors FOR WITHHELD BROKER NON-VOTES Abner Kurtin 88,412,388 7,340,416 54,831,560 John Hartmann 91,925,067 3,827,737 54,831,560 Samuel Brill 88,837,778 6,915,026 54,831,560 Scott Swid 95,341,862 410,942 54,831,560 Josh Gold 91,604,488 4,148,316 54,831,560 Francis Perullo 91,654,840 4,097,964 54,831,560
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Ascend Wellness Holdings, Inc. shareholders approved Ratification of appointment of Macias Gini & O'Connell LLP as independent registered public accounting firm for fiscal year ending December 31, 2024 at the 2024-05-03 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2024-05-03
Exact text from the filing
Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm The appointment of Macias Gini & O'Connell LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024 was ratified based on the following votes: FOR AGAINST ABSTAIN BROKER NON-VOTES 150,256,263 80,511 29,494 298,607
View on SEC.gov
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