SequelSEC

Ascend Wellness Holdings, Inc. AAWH

Medicinal Chemicals & Botanical Products · CIK 0001756390 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$500.58M
Fiscal year ended 2025-12-31
Operating income
-$17.01M
Fiscal year ended 2025-12-31
Free cash flow
$12.04M
Fiscal year ended 2025-12-31

Ascend Wellness Holdings, Inc. (AAWH) reported revenue of $500.58M for the fiscal year ended 2025-12-31. This page shows 7 annual periods of income statement, balance sheet and cash flow figures normalized from Ascend Wellness Holdings, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Medicinal Chemicals & Botanical Products.

Income

Ascend Wellness Holdings, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Revenue$500.58M$561.60M$518.59M$405.93M$332.38M$143.73M$12.03M
Cost of revenue$330.90M$377.39M$363.47M$271.36M$196.41M$82.82M$8.74M
Gross profit$169.68M$184.21M$155.12M$134.56M$135.97M$60.91M$3.29M
Operating income-$17.01M$4.73M-$3.62M-$7.53M-$17.20M$7.85M-$26.12M
Net incomeUnavailableUnavailableUnavailable-$80.90M-$122.66M-$25.44M-$31.90M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 203.48Mshares 212.43Mshares 199.15Mshares 183.38Mshares 149.43Mshares 95.16MUnavailable
Pretax income-$66.82M-$39.82M-$14.76M-$39.21M-$80.94M-$5.14M-$32.58M
Income tax expense$51.38M$45.17M$33.45M$41.69M$41.72M$18.70M$667.00K
Diluted EPS$-0.58$-0.40$-0.24$-0.44$-0.82$-0.27$-0.37
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrative$169.69M$179.48M$158.74M$137.09M$116.66M$53.07M$29.41M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Ascend Wellness Holdings, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Cash & equivalents$85.68M$88.25M$72.51M$74.15M$155.48M$56.55MUnavailable
Total assets$907.93M$900.43M$919.55M$872.16M$723.44M$427.75MUnavailable
Current assets$208.95M$229.38M$228.86M$198.74M$258.01M$134.18MUnavailable
Total liabilities$954.55M$828.63M$776.68M$708.74M$546.96M$423.96MUnavailable
Current liabilities$109.01M$144.54M$92.69M$110.95M$117.40M$115.28MUnavailable
Total equity incl. NCI-$46.62M$71.80M$142.87M$163.42M$176.48M$3.79M$34.84M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Inventory$84.71M$89.55M$95.29M$97.53M$65.59M$29.00MUnavailable
Accounts receivable$27.02M$36.54M$28.30M$14.10M$7.61M$6.23MUnavailable
Goodwill$58.45M$49.60M$47.54M$44.37M$42.97M$22.80M$809.00K
Long-term debt$291.10M$214.42M$297.56M$319.30M$230.85M$152.28MUnavailable
Accounts payable$20.91M$26.41M$34.69M$17.06M$5.54M$7.36MUnavailable

Cash flow

Ascend Wellness Holdings, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Operating cash flow$38.05M$73.29M$75.33M-$38.36M-$41.74M-$6.00M-$40.93M
Capital expenditures$26.01M$22.53M$24.25M$81.64M$88.43M$26.42M$41.67M
Investing cash flow-$45.74M-$37.20M-$59.89M-$114.25M-$113.23M-$30.87M-$65.55M
Financing cash flow$5.10M-$20.35M-$17.08M$71.28M$252.36M$82.17M$111.06M
Net change in cash-$2.58M$15.75M-$1.64M-$81.34M$97.38M$45.29M$4.58M
Stock-based compensation$2.45M$18.61M$19.78M$18.98M$23.09M$680.00K$311.00K
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortization$73.53M$66.16M$58.98M$37.11M$22.22M$12.56M$4.10M

Derived

Ascend Wellness Holdings, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Free cash flow$12.04M$50.76M$51.09M-$120.00M-$130.17M-$32.42M-$82.60M
Gross margin33.9%32.8%29.9%33.1%40.9%42.4%27.3%
Operating margin-3.4%0.8%-0.7%-1.9%-5.2%5.5%-217.1%
FCF margin2.4%9.0%9.9%-29.6%-39.2%-22.6%-686.5%
SBC / revenue0.5%3.3%3.8%4.7%6.9%0.5%2.6%
Current ratio1.92x1.59x2.47x1.79x2.20x1.16xUnavailable
Revenue YoY growth-10.9%8.3%27.8%22.1%131.3%1094.6%Unavailable
Net marginUnavailableUnavailableUnavailableUnavailableUnavailable-17.7%-265.1%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue5.2%4.0%4.7%20.1%26.6%18.4%346.3%
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open AAWH in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-12View SEC filing
10-Q · Filed 2026-05-13View SEC filing
10-K · Filed 2026-03-12View SEC filing
10-Q · Filed 2025-11-10View SEC filing
10-Q · Filed 2025-08-07View SEC filing
10-Q · Filed 2025-05-12View SEC filing

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.