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 ...

Core Insights - Aspira Women's Health Inc. reported a significant growth in product volume, with a more than 26% increase in May 2024 compared to January 2024, and an 88% year-to-date increase in OvaWatch volume compared to the same period in 2023 [1][2][3] Group 1: Product Performance - Monthly product volume for OvaSuite grew by over 26% in May 2024 compared to January 2024 [1] - Year-over-year growth in monthly product volume per full-time sales representative increased to 569 for the five months ended May 2024, up from 484 for the same period in 2023 [2] - OvaWatch volume year-to-date through May 2024 is up by more than 88% compared to the same period in 2023 [2] Group 2: Sales Strategy and Market Expansion - The company is focusing on a leaner sales team, with approximately 20% of the 19-person team being cost-effective inside sales representatives [2] - The addressable market for OvaWatch is estimated to be between 2 to 4 million tests per year, significantly larger than the Ova1Plus® market of approximately 200,000 tests per year [3] - Aspira's expansion into the Philippines is on track for a commercial launch of OvaWatch in the third quarter, with expected higher margins compared to the U.S. market [3] Group 3: Reimbursement Developments - Aspira executed an OvaSuite contract with Anthem Plans, adding over 2 million covered lives, with expectations to add up to 16 million covered lives in the coming quarters [4][5] - Medicaid coverage for OvaWatch has expanded in Maryland and Kentucky, adding the test to the fee schedule at $897 per test, now covering nine states [4] Group 4: Financial Guidance - The company anticipates a downward revision of the 2024 cash used in operations guidance during the second quarter 2024 earnings call [6]

Monthly OvaSuiteSM product volume grew by more than 26% in May compared to January Reimbursement momentum continued with expanded Anthem and Medicaid coverage for OvaSuite Cash used in operations guidance for 2024 expected to be lowered AUSTIN, Texas, June 13, 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 provided interim commercial and oper ...