Ascend Wellness Holdings Inc

OTCQX US:AAWHUnited StatesView on Canadian Exchange

Nov 12, 2024

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• -- Earnings Flash (AAWH) ASCEND WELLNESS HOLDINGS Reports Q3 Revenue $141.6M, vs. Street Est of $14.3M, from 7:09AM ET on Tuesday Nov 12, 2024 by MT Newswires

  7:09AM ET on Tuesday Nov 12, 2024 by MT Newswires
  Companies Mentioned: AAWH
  07:09 AM EST, 11/12/2024 (MT Newswires) -- ...

• AWH ANNOUNCES Q3 2024 FINANCIAL RESULTS, from 7:01AM ET on Tuesday Nov 12, 2024 by PR Newswire

  7:01AM ET on Tuesday Nov 12, 2024 by PR Newswire
  Companies Mentioned: AAWH

  Achieved $141.6 million Net Revenue inQ3 2024

  Reported $25.1 million in Adjusted EBITDA

  Anticipates $30 million of Annual Savings Through Transformation Initiatives

  Ascend Wellness Holdings, Inc. ("AWH," or the "Company" or "Ascend") (CSE: AAWH.U) (OTCQX: AAWH), a vertically integrated multi-state cannabis operator focused on bettering lives through cannabis, today reported its financial results for the three months ended September30, 2024 ("Q3 2024"). Financial results are reported in accordance with U.S. generally accepted accounting principles ("GAAP") and all currency is in U.S. dollars.

• AWH ANNOUNCES Q3 2024 FINANCIAL RESULTS, from 7:01AM ET on Tuesday Nov 12, 2024 by CNW Group

  7:01AM ET on Tuesday Nov 12, 2024 by CNW Group
  Companies Mentioned: AAWH

  COMTEX_459716647/2669/2024-11-12T07:01:04

• AWH ANNOUNCES Q3 2024 FINANCIAL RESULTS, from 7:00AM ET on Tuesday Nov 12, 2024 by Dow Jones

  7:00AM ET on Tuesday Nov 12, 2024 by Dow Jones
  Companies Mentioned: AAWH
  
  assets. Accordingly, management believes that Adjusted EBITDA provides meaningful and useful financial information, as this measure demonstrates the operating performance of the business. Non-GAAP financial measures may be considered in addition to the results prepared in accordance with U.S. GAAP, but they should not be considered a substitute for, or superior to, U.S. GAAP results.
  

• Press Release: AWH ANNOUNCES Q3 2024 FINANCIAL RESULTS, from 7:00AM ET on Tuesday Nov 12, 2024 by Dow Jones

  7:00AM ET on Tuesday Nov 12, 2024 by Dow Jones
  Companies Mentioned: AAWH
  
  ASCEND WELLNESS HOLDINGS, INC.
  
  RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
  
  We define "Adjusted Gross Profit" as gross profit excluding non-cash inventory costs, which include depreciation and amortization included in cost of goods sold, equity-based compensation included in cost of goods sold, start-up costs included in cost of goods sold, and other non-cash inventory adjustments. We define "Adjusted Gross Margin" as Adjusted Gross Profit as a percentage of net revenue. Our "Adjusted EBITDA" is a non-GAAP measure used by management that is not defined by U.S. GAAP and may not be comparable to similar measures presented by other companies. We define "Adjusted EBITDA Margin" as Adjusted EBITDA as a percentage of net revenue. Management calculates Adjusted EBITDA as the reported net loss, adjusted to exclude: income tax expense, other (income) expense interest expense, depreciation and amortization, depreciation and amortization included in cost of goods sold, non-cash inventory adjustments, equity-based compensation, equity-based compensation included in cost of goods sold, start-up costs, start-up costs included in cost of goods sold, transaction-related and other non-recurring expenses, and gain or loss on sale of assets. Accordingly, management believes that Adjusted EBITDA provides meaningful and useful financial information, as this measure demonstrates the operating performance of the business. Non-GAAP financial measures may be considered in addition to the results prepared in accordance with U.S. GAAP, but they should not be considered a substitute for, or superior to, U.S. GAAP results.