Ascend Wellness Holdings, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $500.6M | $561.6M | $518.6M | $405.9M | $332.4M | $143.7M | $12.0M |
| Cost of Revenue | $330.9M | $377.4M | $363.5M | $271.4M | $196.4M | $82.8M | $8.7M |
| Gross Profit | $169.7M | $184.2M | $155.1M | $134.6M | $136.0M | $60.9M | $3.3M |
| Gross Margin | 33.9% | 32.8% | 29.9% | 33.1% | 40.9% | 42.4% | 27.3% |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | — |
| SG&A Expense | $169.7M | $179.5M | $158.7M | $137.1M | $116.7M | $53.1M | $29.4M |
| Operating Income | $-17.0M | $4.7M | $-3.6M | $-7.5M | $-17.2M | $7.8M | $-26.1M |
| Operating Margin | -3.4% | 0.8% | -0.7% | -1.9% | -5.2% | 5.5% | -217.1% |
| Interest Expense | $51.3M | $45.3M | $37.0M | $32.4M | $64.0M | $13.0M | $6.5M |
| Pretax Income | $-66.8M | $-39.8M | $-14.8M | $-39.2M | $-80.9M | $-5.1M | $-32.6M |
| Income Tax Expense | $51.4M | $45.2M | $33.5M | $41.7M | $41.7M | $18.7M | $667.0K |
| Net Income | $-118.2M | $-85.0M | $-48.2M | $-80.9M | $-122.7M | $-25.4M | $-31.9M |
| Net Margin | -23.6% | -15.1% | -9.3% | -19.9% | -36.9% | -17.7% | -265.1% |
| EPS (Basic) | $-0.58 | $-0.40 | $-0.24 | $-0.44 | $-0.82 | $-0.27 | $-0.37 |
| EPS (Diluted) | $-0.58 | $-0.40 | $-0.24 | $-0.44 | $-0.82 | $-0.27 | $-0.37 |
| Shares Outstanding (Basic) | 203.5M | 212.4M | 199.2M | 183.4M | 149.4M | 95.2M | 87.3M |
| Shares Outstanding (Diluted) | 203.5M | 212.4M | 199.2M | 183.4M | 149.4M | 95.2M | 87.3M |
| Dividends Per Share | — | — | — | — | — | — | — |