Ascend Wellness Holdings, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2021
May 18, 2021 at 04:05 pm EDT
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Ascend Wellness Holdings, Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2021. Total revenue during the first quarter of 2021 was $66.1 million, which represents an increase of 192.7% from $22.6 million during the first quarter of 2020 and an increase of 21.8% from $54.3 million during the fourth quarter of 2020. Net loss was $48.2 million as compared to a net loss of $7.118 million for the first quarter of 2020. Net loss attributable to AWH for the first quarter of 2021 was $48.2 million, or $0.45 per basic and diluted historical common unit, as compared to a net loss of $7.5 million, or $0.08 per basic and diluted historical common unit, for the first quarter of 2020. Operating loss was $31.99 million compared to $2.16 million for the first quarter of 2020.
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. 
