Ascend Wellness Reports Q2 2025 Financial Results

Ascend Wellness Holdings Llc Class A ( (AAWH) ) has released its Q2 earnings. Here is a breakdown of the information Ascend Wellness Holdings Llc Class A presented to its investors.

Ascend Wellness Holdings, Inc. (AWH) is a vertically integrated cannabis operator with a presence in several U.S. states, focusing on cultivation, retail, and wholesale of cannabis products. The company is known for its in-house branded products and strategic market expansion.

In its second quarter of 2025, Ascend Wellness reported a net revenue of $127.3 million and an adjusted EBITDA of $28.6 million, marking its tenth consecutive quarter of positive operating cash flow. The company also completed a strategic refinancing, fully retiring a $60 million term loan, and ended the quarter with a robust cash position of $95.3 million.

Key highlights from the quarter include the addition of five new retail locations, bringing the total to 44, and the launch of a new product line, High Wired, which gained significant traction in Illinois and Massachusetts. The company also repurchased 1.9 million shares of its Class A common stock and launched a new e-commerce platform to enhance customer experience.

Despite a slight decrease in net revenue compared to the previous quarter, retail revenue saw a 2.5% increase, driven by new store openings and strong performance in Ohio. However, wholesale revenue decreased by 6.4% due to softer sales in Illinois and pricing pressures. The company reported a net loss of $24.4 million, primarily due to increased general and administrative expenses.

Looking ahead, Ascend Wellness remains focused on expanding its retail footprint and enhancing its product offerings. The management is optimistic about achieving its medium-term target of 60 stores and continues to prioritize financial flexibility and operational efficiency to drive long-term growth.