FY2025 · ended Dec 31, 2025 · Revenue $500.58M, -10.9% YoY · Filed Mar 12, 2026
Ascend Wellness Holdings, Inc. (AAWH) files with the SEC under industry code 2833, Medicinal Chemicals & Botanical Products. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $500.6 million and a net loss of $118.2 million. Free cash flow was $12.0 million. As of Jun 30, 2026 it held $67.0 million in cash and investments and $652.7 million in total debt.
Revenue (TTM)
$488.33M
-8.4% vs year-ago TTM
Net income (TTM)
$-113.83M
-28.3% vs year-ago TTM
Operating cash flow (TTM)
$17.35M
-71.5% vs year-ago TTM
Free cash flow (TTM)
$-6.95M
EPS (TTM)
$-0.56
-32.4% vs year-ago TTM
Dividend per share
None
Shares outstanding
202.22M
-1.4% vs prior year
Net cash
$-585.72M
as of Jun 30, 2026
Operating margin
-2.2%
FY 2026
Company profile
- Industry
- Medicinal Chemicals & Botanical Products (SIC 2833)
- Listed as
- AAWH (OTC)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Rochelle Park, NJ
- SEC filer status
- , Emerging growth company
- SEC CIK
- 1756390
- Former names
- Ascend Wellness Holdings, Inc (until Mar 11, 2022); Ascend Wellness Holdings, LLC (until Apr 15, 2021)
Other Medicinal Chemicals & Botanical Products companies
- Definium Therapeutics, Inc. DFTX
- Regencell Bioscience Holdings Ltd RGC
- Curaleaf Holdings, Inc. CURLF
- Trulieve Cannabis Corp. TRLV
- Cronos Group Inc. CRON
- TFA Therapeutics, Inc. RAJAF
- Tilray Brands, Inc. TLRY
- SNDL Inc. SNDL
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $500.6M | $561.6M | $518.6M | $405.9M | $332.4M |
| Operating income | -$17.0M | $4.7M | -$3.6M | -$7.5M | -$17.2M |
| Net income | -$118.2M | -$85.0M | -$48.2M | -$80.9M | -$122.7M |
| Diluted EPS | -$0.58 | -$0.40 | -$0.24 | -$0.44 | -$0.82 |
| Operating cash flow | $38.1M | $73.3M | $75.3M | -$38.4M | -$41.7M |
| Free cash flow | $12.0M | $50.8M | $51.1M | -$120.0M | -$130.2M |
| Total assets | $907.9M | $900.4M | $919.5M | $872.2M | $723.4M |
| Total liabilities | $954.5M | $828.6M | $776.7M | $708.7M | $547.0M |
| Stockholders' equity | -$47.4M | $71.0M | $142.9M | $163.4M | $176.5M |
| Cash and investments | $85.7M | $88.3M | $72.5M | $74.1M | $155.5M |
| Total debt | $629.6M | $602.0M | $579.9M | $573.4M | $458.7M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Shareholder vote results
|
Aug 31, 2026 | Aug 28, 2026 |
| 10-Q | Quarterly report | Aug 12, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 12, 2026 | Aug 12, 2026 |
| 8-K |
Current report
Bylaw or fiscal year change
|
Jun 25, 2026 | Jun 24, 2026 |
| 10-Q | Quarterly report | May 13, 2026 | Mar 31, 2026 |
| 8-K |
Current report
Results of operations
|
May 13, 2026 | May 13, 2026 |
All 147 Ascend Wellness Holdings, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.