Ascend Wellness Reports 5th Consecutive Quarter Of Positive Cash Flow While Net Debt Remains Around $238M
New York-headquartered cannabis company, Ascend Wellness Holdings, Inc. (CSE:AAWH) (OTCQX:AAWH) reported its financial results Tuesday for the first quarter ended March 31, 2024 disclosing revenue of $142.4 million, up by 24.7% year-over-year, and 1.6% sequentially.
“I want to extend my gratitude to all of our stakeholders for their dedicated efforts in delivering a solid first quarter,” stated John Hartmann, CEO. “We’ve seen tremendous 25% year-over-year growth in revenue and a 39% increase in adjusted EBITDA, complemented by a 239-basis point expansion in our Adjusted EBITDA margin compared to the prior year. This quarter also marks our fifth consecutive period of gross wholesale growth. These achievements reflect the hard work of our team, and they underscore our commitment to sustained operational excellence and financial health.”
Q1 2024 Financial Highlights
Net loss of $18.2 million during the quarter compared to $18.5 …