Ascend Wellness Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 07:29 am EST
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Ascend Wellness Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 141.27 million compared to USD 111.24 million a year ago. Net loss was USD 11.24 million compared to USD 16.86 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.09 a year ago.
For the nine months, sales was USD 378.43 million compared to USD 293.83 million a year ago. Net loss was USD 28.87 million compared to USD 65.85 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.36 a year ago.
Ascend Wellness Holdings, Inc. is a vertically integrated multi-state cannabis operator. The Company is focused on operating in adult-use or near-term adult-use states in primarily limited license markets. It is engaged in cultivation, manufacturing, and distribution of cannabis consumer packaged goods, which are sold through Company-owned retail stores and to third-party licensed retail cannabis stores. The Company has licenses and assets in Illinois, Massachusetts, Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. It produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Royale, and Tunnel Vision branded products. The Company operates cultivation facilities in six states with approximately 245,000 square feet of total canopy. Common Goods is a no-frills brand that offers high value cannabis for everyday consumption. The brand comes in flower and pre-rolls. Ozone Reserve comes in exotic flower, refined concentrates, purified oils, and vapes.
ASCEND WELLNESS HOLDINGS, INC. 
