AAWH - Cannabis Acquisitions Pay Off: MSO Ascend Wellness Q4 Revenue Jumps 25% YoY To $140M | Benzinga
Multi-state cannabis operator Ascend Wellness (CSE:AAWH) (OTCQX:AAWH) reported its financial results Tuesday for the fourth quarter and full year, revealing quarterly revenue of $140.2 million, down by 0.8% quarter-over-quarter and up by 25% year-over-year.
“AWH had an excellent quarter and full year," CEO John Hartmann stated. ‘" Our notable achievements translated into impressive financial success, with 2023 net revenue reaching $519 million, a robust 28% growth from the previous year. This growth was fueled by the expansion of both retail and wholesale businesses, including a 21% increase in the retail business driven by store openings and strategic acquisitions and a 47% growth in the third-party wholesale business as we increased our presence in New Jersey, Massachusetts, and Illinois."
Q4 Financial Summary
- Net loss of $19.3 million compared to net loss of $15.1 million in Q4 2022.
- Adjusted EBITDA was $32.4 million, a 9.6% increase quarter-over-quarter and a 14.8% increase year-over-year. Adjusted EBITDA Margin was ...