Canada · Delayed Price · Currency is CAD · Price in USD Ascend Wellness Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 revenue and adjusted EBITDA exceeded expectations despite a 3% sequential decline, with margin expansion driven by increased verticality and strong loyalty engagement. Regulatory progress and retail expansion position the company for growth, while price compression and tax uncertainties remain key risks.
Fiscal Year 2025
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2025 saw strong execution on cost savings, retail expansion, and brand innovation, despite revenue declines from price compression and competition. The company enters 2026 with a robust store pipeline, solid liquidity, and a focus on margin protection and growth.
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Q3 2025 featured resilient margin expansion and operational improvements despite a 2% sequential revenue decline, with adjusted EBITDA up 8.9% and strong cash reserves. Strategic investments in digital, automation, and brand innovation are driving efficiency and positioning for future growth.
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Q2 2025 saw flat revenue at $127.3M, margin expansion, and strong cash flow, despite price compression and regulatory delays. Retail growth, cost savings, and new product launches drove improved profitability, with guidance for continued margin strength in Q3.
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Q1 2025 revenue was $128M with a 21.1% adjusted EBITDA margin, despite price compression and a 5.9% sequential revenue decline. Market share grew 4% and cost-saving initiatives exceeded $30M annualized, supporting margin resilience.
Fiscal Year 2024
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Profitability and cash flow improved with adjusted EBITDA margin up 450 bps and free cash flow at $30.1M. Retail and wholesale segments saw record achievements, while cost savings and inventory management drove margin gains. Share buybacks and automation initiatives support future growth.
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Q3 revenue was $141.6M, up slightly year-over-year, with adjusted EBITDA down 15%. Cost-saving initiatives targeting $30M in 2025 are underway, and Ohio adult-use sales drove strong retail growth, offsetting headwinds in other markets.
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Q2 2024 saw 15% net revenue and 33% Adjusted EBITDA growth year-over-year, but sequential declines due to margin pressure in Massachusetts. Retail and wholesale segments showed mixed results amid rising competition, while refinancing improved financial flexibility. Updated guidance includes Ohio adult-use sales and expects positive free cash flow for the year.