Ascend Wellness Reports 5th Consecutive Quarter Of Positive Cash Flow While Net Debt Remains Around $238M
Portfolio Pulse from Nina Zdinjak
Ascend Wellness Holdings, Inc. (OTCQX:AAWH) reported a 24.7% year-over-year revenue increase to $142.4 million for Q1 2024, with a net loss of $18.2 million. The company achieved its fifth consecutive quarter of positive cash flow, with $3.9 million generated from operations. Adjusted EBITDA rose by 39% to $32.5 million. Ascend Wellness also expanded its operations, opening two new dispensaries and entering into two long-term supply agreements in Maryland.
May 07, 2024 | 12:53 pm
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POSITIVE IMPACT
Ascend Wellness reported a significant year-over-year revenue growth and a consistent positive cash flow for the fifth consecutive quarter, despite a net loss of $18.2 million. The company's operational expansion and new supply agreements indicate a strong growth trajectory.
The reported revenue growth and positive cash flow highlight Ascend Wellness's strong financial health and operational efficiency. The expansion of dispensaries and supply agreements in Maryland are likely to further fuel growth, making the company's stock potentially more attractive to investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100