Ascend Wellness Holdings Inc (AAWH)

[JBGoode]

NEWS: AAWH ANNOUNCES Q2 2022 FINANCIAL RESULTS

Q2 2022 Financial Highlights

Gross Revenue increased 16.2% quarter-over-quarter and increased 20.7% year-over-year, to $117.7 million.
Net revenue, which excludes intercompany sale of wholesale products, increased 14.6% quarter-over-quarter and 17.0% year-over-year, to $97.5 million.
Retail revenue grew 19.4% quarter-over-quarter to $75.6 million. Gross wholesale revenue grew 11.0% quarter-over-quarter to $42.1 million and wholesale, net of intercompany sales, grew 0.7% to $21.9 million.
Net loss decreased to $21.2 million during the quarter, compared to a net loss of $27.8 million in Q1 2022.
Adjusted EBITDA1 was $20.9 million, representing a 21.4% margin, a ~220 basis point margin expansion quarter-over-quarter.
As of June 30, 2022, cash and cash equivalents were $140.6 million, and net debt2 was $152.7 million.

AAWH Announces Q2 2022 Financial Results