Ascend Beats Expectations in Q4
- Ascend Wellness Holdings, Inc. reported financial results for the fourth quarter and full year ended December 31, 2024.
- The company focused on improving profitability, maximizing asset efficiency, and driving cash flow generation.
- They achieved $30 million in annualized cost savings ahead of plan and are now focused on revenue growth.
- The company is executing a densification strategy to capitalize on retail and wholesale opportunities.
NEW YORK, March 12, 2025 /PRNewswire/ – Ascend Wellness Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a vertically integrated multi-state cannabis operator focused on bettering lives through cannabis, today reported its financial results for the fourth quarter and full year ended December 31, 2024. Financial results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and all currency is in U.S. dollars.
Q4 2024 Business Highlights
The fourth quarter marked the first full quarter with our new management team in place, and I am pleased with the initial progress we made on our key initiatives – improving profitability, maximizing asset efficiency, and driving cash flow generation
This was achieved through our team’s success in substantially completing our $30 million in annualized cost savings target, ahead of plan, and with this milestone completed we have turned our efforts to driving revenue growth. Looking ahead, we are focused on executing our densification strategy, backed by our strengthened balance sheet, that puts us in a strong position to act on exciting retail and wholesale opportunities across our footprint.
Original press release