---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-024683"
form_type: "8-K"
ticker: "AAWH"
cik: "0001756390"
company_name: "Ascend Wellness Holdings, Inc."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-22T00:04:00.552665+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ascend Wellness Q1 2025 net revenue $128M, Adj EBITDA $27M, cash from ops positive $5.9M

## Summary
- Net revenue of $128.0M; Adjusted EBITDA of $27.0M (non-GAAP); Adjusted Gross Margin 40.8%.
- Generated $5.9M cash from operations, ninth consecutive quarter of positive operating cash flow.
- Ended Q1 2025 with $100.0M cash; targeting ten new stores in 2025 (Ohio, PA, IL, NJ).
- Cost savings transformation initiatives continued; improving balance sheet and working capital.

## SEC filing metadata
- accession: 0001628280-25-024683
- form_type: 8-K
- ticker: AAWH
- cik: 0001756390
- company_name: Ascend Wellness Holdings, Inc.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1756390/000162828025024683/0001628280-25-024683-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1756390/000162828025024683/aawh-20250512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-024683
- JSON: https://secwatch.observer/filing/0001628280-25-024683.json
- Plain text: https://secwatch.observer/filing/0001628280-25-024683.txt

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