Quarterly ResultMay 13, 2026, 04:23 PM
Ascend Wellness Q1 Revenue $116.9M; Adj. EBITDA $26.3M; Net Loss $29.5M
AI Summary
Ascend Wellness Holdings reported Q1 2026 financial results, with net revenue of $116.9 million and Adjusted EBITDA of $26.3 million. The company's net loss improved to $29.5 million from $48.7 million sequentially, and Adjusted Gross Profit Margin increased to 46.1%. Operational highlights include the addition of five new dispensaries, strong brand performance with Ozone's evolution and High Wired ranking #1 in infused flower, and a positive outlook on cannabis rescheduling benefits. The company also announced a temporary suspension of operations at its Lansing, Michigan facility due to a fire incident, but does not anticipate a material impact.
Key Highlights
- Ascend Wellness Q1 2026 net revenue was $116.9 million, down from $120.5 million in Q4 2025.
- Adjusted EBITDA for Q1 2026 was $26.3 million, with an Adjusted EBITDA Margin of 22.5%.
- The company reported a net loss of $29.5 million in Q1 2026, an improvement from $48.7 million in Q4 2025.
- Cash and cash equivalents stood at $60.9 million as of March 31, 2026.
- Five new dispensaries were added year-to-date, bringing the footprint to 51 locations.
- Adjusted Gross Profit Margin improved to 46.1% of revenue in Q1 2026 from 45.4% in Q4 2025.
- Net cash outflow from operating activities was $19.4 million, including a $17.0 million arbitration settlement.
- For Q2 2026, the company anticipates a 2-3% increase in revenue and steady low-20% Adjusted EBITDA Margin.