Ascend Wellness: Q2 'Solid Growth' But Did Not Meet Expectations, Net Loss Reaches $22M, Revises Full Year Guidance
Portfolio Pulse from Nina Zdinjak
Ascend Wellness reported Q2 2024 financial results with a 15% increase in revenue to $141.54 million but a net loss of $21.78 million. The company revised its full-year guidance due to increased retail competition and recent profitability trends. Despite challenges, Ascend Wellness remains optimistic about achieving significant year-over-year growth.
August 05, 2024 | 12:17 pm
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Ascend Wellness reported a 15% increase in Q2 2024 revenue but a net loss of $21.78 million. The company revised its full-year guidance due to increased retail competition and recent profitability trends. Despite challenges, the company remains optimistic about achieving significant year-over-year growth.
The 15% revenue increase and positive cash flow are positive signs, but the net loss and revised guidance due to increased competition create uncertainty. The stock's 3.88% rise suggests mixed investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100