Aspira Women's Health Reports Second Quarter 2024 Financial Results Q2 2024 OvaSuiteSM revenue of $2.4 million and volume of 6,471 units Q2 2024 cash utilization decreased by 16% compared to Q1 2024 Full year 2024 cash guidance decreased to $13-$14.5 million Conference Call and Webcast scheduled for today at 4:30 pm ET AUSTIN, Texas, August 12, 2024 (GLOBE NEWSWIRE) -- Aspira Women's Health Inc. ("Aspira" or the "Company") (Nasdaq: AWH), a bio-analytical based women's health company focused on the developme ...

Financial Performance - In Q2 2024, Aspira Women's Health Inc. reported revenue of $2.4 million, a slight decrease from $2.5 million in Q2 2023, with approximately 6,471 OvaSuite tests performed, representing a 3% increase year-over-year [5] - The average unit price for OvaSuite tests was $374 in Q2 2024, down from $396 in Q2 2023 [5] - Gross profit margin for Q2 2024 was 59%, compared to 62% in the same period last year, impacted by increased shipping costs [6] - Research and development expenses rose by 37% to $1.0 million in Q2 2024, while sales and marketing expenses increased by 21% to $2.1 million [7] - General and administrative expenses decreased by 20% to $2.7 million in Q2 2024 [7] Cash Utilization and Guidance - Cash utilization decreased by 16% in Q2 2024 compared to Q1 2024 [1] - The full-year cash guidance for 2024 has been revised down to $13-$14.5 million from an earlier estimate of $15-$18 million [1][8] Market Expansion and Product Development - OvaWatch product volume grew by 48% in Q2 2024 compared to the previous year, indicating strong future growth potential [2] - The addressable market for the commercial portfolio has expanded to between 2 and 4 million tests per year, significantly larger than the Ova1Plus test's current market share of 5-10% [2] - The company is focused on developing molecular tests for ovarian cancer and endometriosis, which are expected to be groundbreaking for women's health [2] Corporate Developments - Aspira appointed John Ragard to its Board of Directors, bringing extensive experience in managing billion-dollar portfolios [3] - The company closed a private placement for gross proceeds of $1.9 million and completed a warrant exercise transaction for $2.1 million in July 2024 [4] - John Kallassy has been appointed as interim chief financial officer, effective August 15, 2024 [4] Conference Call - A conference call and webcast are scheduled for today at 4:30 pm ET to discuss the financial results and future outlook [1][9]

Core Insights - Ascend Wellness Holdings, Inc. reported a net revenue of $141.5 million for Q2 2024, marking a 15% increase year-over-year [1][2] - The company achieved an Adjusted EBITDA of $28.3 million, reflecting a 33% increase year-over-year [1][2] - Positive cash flow from operations and free cash flow were generated, with approximately $32 million in cash flows from operations [1][2][3] Financial Highlights - Gross revenue rose 14.3% year-over-year to $172.7 million, but decreased 0.9% quarter-over-quarter [2] - Retail revenue increased 3.6% year-over-year to $93.1 million, while gross wholesale revenue surged 30.1% year-over-year to $79.6 million [2][6] - The company reported a net loss of $21.8 million for the quarter, compared to a net income of $0.8 million in Q2 2023 [2][9] - Cash and cash equivalents stood at $83.7 million as of June 30, 2024, with net debt at $225.6 million [2][19] Business Developments - Successfully refinanced $215 million of existing term loans with a new Senior Secured Note facility [3] - Opened two new dispensaries in Pennsylvania and New Jersey, increasing the total number of operating dispensaries to 38 [3] - Initiated sales of AWH brands in Maryland and received dual-use certificates for stores in Ohio, allowing non-medical sales [3][4] Management Commentary - The CEO highlighted robust year-over-year growth in key metrics, driven by an increase in wholesale customers and new retail dispensaries [4] - The CFO noted the need to manage costs and optimize business functions due to increased retail competition and profitability trends [5] Adjusted Financial Metrics - Adjusted EBITDA margin improved to 20.0%, despite a 12.7% decline quarter-over-quarter [10] - Adjusted Gross Profit for Q2 2024 was $53.0 million, with an Adjusted Gross Margin of 37.5% [8][20] - General and administrative expenses decreased to $43.1 million, improving as a percentage of revenue to 30.4% [9]

AUSTIN, Texas, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Aspira Women's Health Inc. ("Aspira") (NASDAQ:AWH), a bio-analytical based women's health company focused on the development of gynecologic disease diagnostic tools, today announced a poster presentation at the upcoming Annual Meeting of The Menopause Society being held on September 10-14, 2024 in Chicago, IL. Details on the presentation can be found below. Poster:Application of Deep Neural Network-Based Algorithm to Provide Additional Information in the Asse ...

AUSTIN, Texas, July 29, 2024 (GLOBE NEWSWIRE) -- Aspira Women's Health Inc. ("Aspira") (NASDAQ:AWH), a bio-analytical based women's health company focused on the development of gynecologic disease diagnostic tools, today announced the appointment of Mr. John Ragard to its Board of Directors. Mr. Ragard is an accomplished executive with extensive experience successfully managing several billion-dollar portfolios over his career. "We are pleased to welcome John to our Board of Directors," said Ms. Jannie Herc ...

AUSTIN, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Aspira Women's Health Inc. ("Aspira" or the "Company") (NASDAQ:AWH), a bio-analytical based women's health company focused on the development of gynecologic disease diagnostic tools, today announced that it has closed its previously announced private placement for the issuance and sale of shares of the Company's common stock and accompanying warrants to purchase an equal number of shares for gross proceeds of approximately $1.9 million. Aspira has the potenti ...

AUSTIN, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Aspira Women’s Health Inc. (“Aspira” or the “Company”) (Nasdaq: AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic tools, today announced that it has closed its previously announced private placement for the issuance and sale of shares of the Company’s common stock and accompanying warrants to purchase an equal number of shares for gross proceeds of approximately $1.9 million. Aspira has the potent ...

NEW YORK, July 8, 2024 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH" or the "Company") (CSE: AAWH-U.CN) (OTCQX: AAWH), a leading multi-state, vertically integrated cannabis operator, today announced that it will hold a conference call on Monday, August 5, 2024, at 8:30 AM ET following the release of its second quarter 2024 financial results.The earnings conference call may be accessed by dialing 1 (888) 390-0605. A live webcast will also be available on the Investor Relations section of the AWH websi ...

AUSTIN, Texas, July 01, 2024 (GLOBE NEWSWIRE) -- Aspira Women's Health Inc. ("Aspira" or the "Company") (NASDAQ:AWH), a bio-analytical based women's health company focused on the development of gynecologic disease diagnostic tools, today announced it has entered into a securities purchase agreement dated June 30, 2024 with certain existing accredited shareholders and Company insiders to issue and sell an aggregate of 1,264,739 shares of its common stock ("Common Stock") and warrants to purchase an equal num ...

AUSTIN, Texas, July 01, 2024 (GLOBE NEWSWIRE) -- Aspira Women’s Health Inc. (“Aspira” or the “Company”) (Nasdaq: AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic tools, today announced it has entered into a securities purchase agreement dated June 30, 2024 with certain existing accredited shareholders and Company insiders to issue and sell an aggregate of 1,264,739 shares of its common stock (“Common Stock”) and warrants to purchase an equal nu ...