Canada · Delayed Price · Currency is CAD · Price in USD Ascend Wellness Holdings Earnings Call Transcripts
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 revenue declined 2% sequentially to $124.7M, but adjusted EBITDA rose 8.9% to $31.1M as margin initiatives took hold. Market expansion, digital platform launches, and disciplined cost management supported profitability despite price compression and regulatory delays.
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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 sharply in Q4, driven by cost savings and operational discipline. Revenue grew 8.3% year-over-year, with strong wholesale and retail performance, while price compression and competition remain key challenges.
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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 net revenue rose 15% year-over-year to $141.5M, with Adjusted EBITDA up 33%, but margins declined due to wholesale pressures in Massachusetts. Updated 2024 guidance reflects 11–13% revenue growth and includes Ohio adult-use sales, with margin recovery expected in Q4.