The earnings call presents a mixed outlook. Despite challenges such as a decline in net revenue and retail sales, the company reported significant improvements in adjusted gross profit and EBITDA. Successes in cost reduction, digital platform deployment, and market expansion in Ohio and New Jersey provide optimism. However, pricing pressures, regulatory delays, and negative operating cash flow pose ongoing challenges.

Company Guidance

During Ascend Wellness Holdings' third quarter 2025 earnings call, the company provided guidance focusing on maintaining profitability amid challenging market conditions and regulatory uncertainties. The CEO, Sam Brill, emphasized strategic priorities like profitability, sustainability, and market densification. Ascend achieved $124.7 million in net revenue, a 2% decline from the prior quarter, largely due to pricing pressures and increased competition. Despite this, the company improved its adjusted gross profit to $57.8 million, a 4.6% increase quarter-over-quarter, and enhanced its adjusted EBITDA by 8.9% to $31.1 million. The adjusted EBITDA margin expanded to 24.9%, reflecting improved operational efficiency and cost management. Ascend is focused on expanding its footprint, particularly in high-profile states like Ohio, which remains a key growth driver. The company plans to reach 60 total locations within 12 months, supported by a robust store pipeline. Additionally, Ascend's strategic initiatives in product innovation and automation are designed to optimize labor and boost throughput, with a goal of reaching sustainable growth and profitability.

Adjusted Gross Profit Increase

Adjusted gross profit for Q3 reached $57.8 million, reflecting a 4.6% increase quarter-over-quarter, and adjusted gross margin improved by 300 basis points to 46.4%.

Adjusted EBITDA Growth

Adjusted EBITDA grew 8.9% to $31.1 million, and adjusted EBITDA margin expanded to 24.9%, reflecting a 250-basis point improvement quarter-over-quarter.

Sustainability Initiative Success

The ongoing sustainability initiative has eliminated over $30 million in annual expenses ahead of schedule, supporting margin expansion and improved profitability.

Expansion in Ohio and New Jersey

Ohio continues to outperform as the strongest retail market, and the New Jersey Cannabis Regulatory Commission approved a partner store in Little Falls, marking progress in the state's social equity program.

Digital E-commerce Platform Launch

The fully integrated digital e-commerce platform and Ascend Pay launched in Q3, increasing transactions through the feature from 2.7% to 6.7% of total sales by October.

Ascend Wellness Holdings LLC (AAWH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

AAWH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 17, 2026	2025 (Q4)	-0.10 / -	-0.08	―	―	―
Nov 10, 2025	2025 (Q3)	-0.09 / -0.13	-0.13	0.00% (0.00)	―
Aug 07, 2025	2025 (Q2)	-0.07 / -0.12	-0.1	-20.00% (-0.02)
May 12, 2025	2025 (Q1)	-0.08 / -0.09	-0.09	0.00% (0.00)
Mar 12, 2025	2024 (Q4)	-0.10 / -0.08	-0.09	11.11% (<+0.01)
Nov 12, 2024	2024 (Q3)	-0.09 / -0.13	-0.05	-160.00% (-0.08)
Aug 05, 2024	2024 (Q2)	-0.07 / -0.10	0.004	-2600.00% (-0.10)
May 07, 2024	2024 (Q1)	-0.06 / -0.09	-0.1	10.00% (+0.01)
Mar 12, 2024	2023 (Q4)	-0.07 / -0.09	-0.08	-12.50% (>-0.01)
Nov 07, 2023	2023 (Q3)	-0.07 / -0.05	-0.09	44.44% (+0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AAWH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 10, 2025	$0.64	$0.70	+9.37%
Aug 07, 2025	$0.46	$0.52	+13.04%
May 12, 2025	$0.37	$0.34	-8.11%
Mar 12, 2025	$0.31	$0.32	+3.23%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Ascend Wellness Holdings Llc Class A (AAWH) report earnings?

Ascend Wellness Holdings Llc Class A (AAWH) is schdueled to report earning on Mar 17, 2026, After Close (Confirmed).

What is Ascend Wellness Holdings Llc Class A (AAWH) earnings time?

Ascend Wellness Holdings Llc Class A (AAWH) earnings time is at Mar 17, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is AAWH EPS forecast?

AAWH EPS forecast for the fiscal quarter 2025 (Q4) is -0.1.

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