Steady Revenue Amidst Market Challenges
Ascend Wellness Holdings reported Q1 2025 revenue of $128 million, maintaining an adjusted EBITDA margin of 21.1% despite price compression and market seasonality.
Successful Cost Reduction Initiatives
Implemented and exceeded $30 million in annualized cost savings, contributing to maintaining EBITDA margins amidst pricing pressures.
Retail and Brand Expansion
Plans to increase retail footprint by 50% in core markets over 18 months, with 10 new stores expected by year-end 2025. Launched new brands and product lines, achieving the number 2 brand house position in Illinois, New Jersey, and Massachusetts combined.
Market Share Growth
Ascend increased market share by 4% in Q1 2025, compared to Q4 2024, despite a 3.4% market contraction.
Positive E-commerce Developments
E-commerce pilot program resulted in a 6.9% increase in order volume and a 50% reduction in order abandonment.