Ascend Wellness Q3 net revenue $141.6M flat YoY; net loss widens to $28.3M, Adj EBITDA down 14.9%

Ascend Wellness Holdings, Inc.

2024-Q3 EPS reported -$0.32 revenue$425,593,000

Net revenue $141.6M (+0.3% YoY); retail $93.6M (-7.6% YoY), wholesale $48.0M (+20.1% YoY).
Net loss $28.3M vs $11.2M loss in Q3 2023; adjusted EBITDA $25.1M (17.7% margin), down 14.9% YoY and 11.4% QoQ.
Announced $30M annual cost savings initiatives; reduced management headcount by 15% at corporate, 10% at retail/ops.
Cash $65.3M; net debt $240.6M; generated $2M operating cash flow, 7th consecutive positive quarter.
Began adult-use sales at 5 Ohio dispensaries; opened 1 new PA store; total 39 operating dispensaries.

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