Core Insights - Ascend Wellness Holdings, Inc. ("AWH") expects Q4 2025 revenue to be approximately $120 million and FY 2025 revenue to be around $500 million, with Adjusted EBITDA of about $30 million and $117 million respectively [1][2] - The company reported an Adjusted EBITDA margin of approximately 25% for Q4 2025 and 23% for FY 2025, indicating effective cost management and operational efficiency [2][3] - AWH maintains a strong balance sheet with $86 million in cash and no significant debt maturities until 2029, providing financial stability for future operations and expansion [1][3] Financial Performance - For Q4 2025, AWH anticipates net revenue of ~$120 million and Adjusted EBITDA of ~$30 million, reflecting a solid performance in the cannabis sector [2] - The full year 2025 is projected to yield net revenue of ~$500 million and Adjusted EBITDA of ~$117 million, showcasing growth in the company's financial metrics [2] - The company achieved an Adjusted EBITDA margin of ~25% in Q4 2025 and ~23% for FY 2025, demonstrating effective cost controls and a favorable product mix [2][3] Strategic Initiatives - AWH has expanded its retail footprint to 47 stores as part of its densification strategy, focusing on a customer-centric, consumer packaged goods (CPG) operating model [3] - The company has successfully increased its product and brand portfolio, leading to market share gains in its core markets [3] - AWH is pursuing a disciplined approach to its expansion pipeline and M&A initiatives, supported by its strong liquidity and operational platform [3] Legal and Compliance Matters - On February 5, 2026, AWH was notified of an arbitration award in favor of Green Thumb Industries, Inc. regarding a 2018 agreement, which the company disputes [3] - Despite the arbitration outcome, AWH asserts it has sufficient liquidity to continue operations and comply with loan covenants [3]
AWH Announces Preliminary Unaudited Fourth Quarter and Full Year 2025 Results and Conference Call Date