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Ascend Wellness Holdings, Inc. (AAWH) reported its fourth-quarter financial results for the period ended December 31, 2021, on Tuesday, March 8, 2022.

Q4 Financial Highlights 

(All figures are in U.S. Dollars and compared to the previous quarter)

• Gross Revenue: decreased -2.9% to $102.0M
• Gross Profit: decreased -24.9% to $30.8M
• Net Revenue: decreased -6.2% to $88.5M
• Adj. EBITDA: decreased-16.5% to $19.8M
• Adj. EBITDA Margin: down to 22.3% from 23.5%
• Net Income (Loss): decreased -26.9% to $(16.5)M
• Gen. & Admin.: increased +7.8% to $31.6M 
• Cash on Hand: decreased -24.0% to $155.5M

Management Commentary

Abner Kurtin , CEO and Founder of AWH said:

• "...Q4 2021 through the first half of 2022 represent a bit of a pause for Ascend as we bring new assets online.
• As we enter 2022, we are working to optimize our asset base, improve our market positioning, and prepare for the highly-anticipated New Jersey adult-use market."

Stock Price Performance

Ascend's stock price is DOWN -74.3% from its high in 2021 and has gone DOWN -38.2% YTD and -10.5% in just the last week.