Latest revenue
$116.9M
as of 2026-03-31
Latest net income
—
as of 2026-03-31
Net margin
—
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Medicinal Chemicals & Botanical Products (30 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 6, 2026.
Community sentiment
Where do you think AAWH is heading?
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $106.2M
- Enterprise value
- $350.3M
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $1.20
- 52-wk low
- $0.26
- Beta
- —
- Shares out
- 189.6M
5-year trend
What this company does
Ascend Wellness grows, processes, and sells cannabis products through 47 dispensaries and six cultivation facilities across seven U.S. states, mostly limited-license adult-use markets. Revenue comes from selling its branded cannabis goods through company-owned stores, partner dispensaries, and wholesale distribution to third-party licensed retailers. The company is executing a debt-funded expansion toward 60 retail locations while trading near $0.75 per share, reflecting the broader strain on U.S. multi-state cannabis operators.
Generated from AAWH's filing dated 2026-03-12
Key risks
- Highly leveraged: $300M senior secured notes due July 2029 against a $0.75 share price and ~$155M equity market cap.
- Federal cannabis illegality blocks NASDAQ/NYSE listing; shares trade on CSE/OTCQX with thin liquidity and no banking access.
- Geographic concentration in 7 states (IL, MD, MA, MI, NJ, OH, PA) exposes results to state-level adult-use rollout delays.
Generated from AAWH's filing dated 2026-03-12
Profitability
Gross margin
33.9%
3.3%Operating margin
-3.4%
503.2%Net margin
-19.9%
46.0%Return on equity
-49.5%
28.8%Return on assets
-9.3%
45.3%Leverage
Debt / equity
-20.14×
272.3%Long-term debt / equity
-6.14×
285.7%Debt / assets
105.2%
14.2%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $116.9M | -8.6% | — | — | — |
Q4 2025 2025-12-31 | $120.5M | -11.4% | — | — | — |
Q3 2025 2025-09-30 | $124.7M | -11.9% | — | — | — |
Q2 2025 2025-06-30 | $127.3M | -10.1% | — | — | — |
Q1 2025 2025-03-31 | $128.0M | -10.1% | — | — | — |
Q4 2024 2024-12-31 | $136.0M | — | — | — | — |
Q3 2024 2024-09-30 | $141.6M | +0.3% | — | — | — |
Q2 2024 2024-06-30 | $141.5M | +15.1% | — | — | — |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Medicinal Chemicals & Botanical Products · SIC 2833
Your notes
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Insider activity
No insider transactions on file for AAWH in the last 12 months.
Source: SEC Form 4 filings. Backfill runs nightly.
Who owns AAWH
Institutional value
$6.5K
Total shares held
16.4K
Distinct holders
1
As of
2024-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | HighPoint Advisor Group LLC | 16.4K | $6.5K | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With AAWH trading at $0.75 and ~$300M of senior secured notes due 2029, what covenant headroom and refinancing plan exists if 2026 EBITDA disappoints?
- 2
You've added 7 retail partner locations in 2025—what's the unit-level cash contribution versus owned dispensaries, and are these capital-light deals masking core store weakness?
- 3
Class B shares auto-convert May 2026 eliminating supervoting control—does management anticipate activist pressure or strategic alternatives once that overhang clears?
Refreshed when AAWH files a new report · last from 2026-03-12
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