Ascend Wellness Q1 net revenue $116.9M, net loss $29.5M, Adj EBITDA $26.3M

Ascend Wellness Holdings, Inc.

Net revenue of $116.9M, down 3% sequentially from Q4 2025; retail $83.1M, wholesale $33.8M.
Net loss narrowed to $29.5M from $48.7M in Q4 2025; Adj EBITDA $26.3M (22.5% margin).
Added 5 dispensaries YTD; total 51 locations; targeting at least 60 by year end.
Michigan facility to temporarily suspend operations in late Q2 2026 for fire remediation.
Q2 2026 guidance: revenue expected +2-3% sequentially; Adj EBITDA margin low-20% range.

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