Ascend Wellness Holdings, Inc. Q3 2026 Results Overview
Ascend Wellness Holdings, Inc. (CSE:AAWH‑U, OTCQX:AAWH) announced its third‑quarter 2026 financial performance. Net revenue reached $130.0 million, surpassing the consensus estimate of $123 million and representing a 4.2% year‑over‑year increase from $124.7 million in the comparable period last year, as well as a 3.1% sequential rise from the second quarter.
Adjusted earnings per share showed a loss of $0.14, missing analyst expectations of $0.05 by $0.09. Adjusted EBITDA was $31.1 million, delivering an adjusted EBITDA margin of 23.9%, up from 23.1% in the prior quarter.
Retail operations generated $97.8 million in revenue, a 5.5% sequential increase, and accounted for 75.2% of total revenue. Wholesale revenue declined to $32.2 million from $33.4 million in the previous quarter. The company produced positive operating cash flow of $5.4 million despite making a $19.1 million semi‑annual interest payment.
Store footprint: Ascend ended the quarter with 56 retail stores and has since exceeded its year‑end target of 60 locations, now operating 61 stores, including partner‑owned sites.
CEO & Director Sam Brill commented, “Net revenue returned to year‑over‑year growth despite continued pricing headwinds, and retail sales grew as a share of total revenue. Since quarter end, we also exceeded our year‑end target of 60 stores ahead of schedule.”
Guidance: For the fourth quarter of 2026, Ascend projects revenue growth of 1% to 2% and expects the adjusted EBITDA margin to remain around 23.9%, consistent with the third‑quarter level.
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