24 slides from Ascend Wellness Holdings Llc Class A's earnings presentation, Mar 12, 2025
Slide 1: Q4 2024 Earnings
OTCQX: AAWH | CSE: AAWH-U.CN | ASCEND WELLNESS HOLDINGS INC. Q4 2024 Earnings Ascend Wellness Holdings WWW.AWHOLDINGS.COM/INVESTORS
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements OTCQX: AAWH This presentation includes forward-looking information and statements (together, “forward-looking statements”), which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of Ascend Welln
Slide 3: Sam Brill, Chief Executive Officer
ASCEND WELLNESS HOLDINGS INC. | CSE: AAWH-U.CN | OTCQX: AAWH Sam Brill Chief Executive Officer
Slide 4: Key Priorities Update
Key Priorities Update OTCQX: AAWHFireside Chat Realigned focus puts emphasis on profits and cash generation PROFITABILITY1 SUSTAINABILITY Customer| Experience • Q4 Adjusted EBITDA 2 increased 20.4% sequentially to $30.2M. • Achieved 8th consecutive quarter of positive operating • Driven partially by
Slide 5: Q4 2024 Updates
Q4 2024 Updates OTCQX: AAWHFireside Chat • Substantially completed the Company's cost savings initiatives and implemented long-term controls and Customer| Experience processes. • Sustained industry-leading revenue per store. AAWH-U.CN • Launched Effin’, a brand focused on delivering targeted effects
Slide 6: Core Strengths
Core Strengths STRONG OTCQX: AAWH • Exceptional retail locations across the Company’s core markets which has become a FOOTPRINT differentiating factor as competition increases. | CONSUMER Consistently achieving net promoter scores of over 70 at the enterprise level and we continue CSE: AAWH-U.CN • t
Slide 7: Frank Perullo, President & Co-Founder
ASCEND WELLNESS HOLDINGS INC. | CSE: AAWH-U.CN | OTCQX: AAWH President & Co-Founder Frank Perullo
Slide 8: Operational Update
Operational Update Profitability improvements driven by organization-wide initiatives OTCQX: AAWH Enhanced Resource Allocation Improved Working Capital • Introducing new automation technologies to drive • Prudent inventory management across retail and innovation and improve yields wholesale channels
Slide 9: Retail Update
Retail Update Returning our organization to a customer first mentality OTCQX: AAWH $372.2M $90.42M FY'24 RETAIL REVENUE Q4'24 RETAIL REVENUE | RIGHT PRODUCT CSE: AAWH-U.CN • Sold through aging inventory and overstocked SKUs in the quarter to bring our days on hand to optimal levels • Worked to ensur
Slide 10: Wholesale Update
Wholesale Update • FY 2024 record number of pounds of wholesale products sold and increased wholesale OTCQX: AAWH revenue in each of the Company's key markets. • During Q4 our cultivation team delivered the highest network average ever of grams per square foot, the highest network average potency, a
Slide 11: Roman Nemchenko, Chief Financial Officer
ASCEND WELLNESS HOLDINGS INC. | CSE: AAWH-U.CN | OTCQX: AAWH Chief Financial Officer Roman Nemchenko
Slide 12: Financial Highlights
Financial Highlights Q/Q: Q3’24 VS. Q4’24 OTCQX: AAWH Q/Q Net Revenue Adj. EBITDA / Margin1 • Decline in revenue resulting from US$ Millions US$ Millions contraction in IL wholesale market and retail declines in IL , MI, and MA, partially 22.2% offset by incremental growth in OH | 17.7% resulting fr
Slide 13: Q4 Balance Sheet & Cash Flow
Q4 Balance Sheet & Cash Flow 12/31/24 Q4 Cash & Equivalents ($ in millions) OTCQX: AAWH 100 90 88.3 -7.2 -5.0 Cash & Equivalents $88.3M 80 70 65.3 +35.2 60 Fully Diluted Shares | 50 CSE: AAWH-U.CN Outstanding Basic & 217.6 40 Diluted( 1 ) 30 20 10 0 Total Debt, net( 2 ) $308M Cash inflow Cash Cash f
Slide 14: Appendix
ASCEND WELLNESS HOLDINGS INC. | CSE: AAWH-U.CN | OTCQX: AAWH Appendix
Slide 15: Our Vision
Our We envision a future where cannabis is a part of everyday life for consumers of all kind to make their life better. Vision Better fun. Better health. Better being. 15 https://vimeo.com/1008828511?share=copy
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations OTCQX: AAWH | CSE: AAWH-U.CN | ASCEND WELLNESS HOLDINGS INC. (1) Incremental expenses associated with the expansion of activities at our cultivation facilities that are not yet operating at scale, including excess overhead expenses resulting in delays from regulatory approva
Slide 17: Use of Non-GAAP Financial Metrics
Use of Non-GAAP Financial Metrics Financial results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and all currency is in U.S. dollars. This presentation includes certain non-GAAP OTCQX: AAWH financial measures, as defined by the SEC, including Adjusted Gross
Slide 18: Overview
Overview Vertically integrated operator with assets in Illinois, Massachusetts, Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. Owns and operates state-of-the-art cultivation facilities; grows award-winning strains and produces a curated selection of products. OTCQX: AAWH FOUNDED 2018 Revenu
Slide 19: Investment Highlights
Investment Highlights STRONG OTCQX: AAWH • Eighth consecutive quarter of positive Cash from Operations BALANCE SHEET • Recently refinanced term loan; providing 5 years until maturity on new Senior Secured Note | • Continued upside in existing business as medical markets switch to adult-use (OH full
Slide 20: Our Timeline
Our Timeline $562M OTCQX: AAWHFireside Chat $519M Adj. EBITDA Revenue (M) $406M $332M Customer| Experience 116% CAGR Revenue 2019-2024 YTD $144M AAWH-U.CN $79M $93M $107M $116M $31M $0M $12M Shelf | toCSE: Founded 2018 2019 2019 2020 2021 2022 2023 2024 Seed About INC. 245K 245K 255K Welcome HOLDING
Slide 21: Expanding Dispensary Densification
Expanding Dispensary Densification OTCQX: AAWHFireside Chat Target6: 7 2 60 8 Footprint 40 3 50% Customer| Experience 40 Growth Current Ohio Illinois New Jersey Other Target AAWH-U.CN Operating In Progress Operating Cultivation State Dispensaries Dispensaries4 & Processing5 Shelf | toCSE: IL 12 recr
Slide 22: Brand Value Spectrum
Brand Value Spectrum National portfolio of branded products satisfying consumers across the value spectrum OTCQX: AAWH | CSE: AAWH-U.CN #1 Flower in MA1 #3 in IL, NJ, MA1 Grab n’ Go, Gummies for every When You Want a Great The Easy Way Up Curated Fire Phenos Ready to Rip occasion Smoke | ASCEND WE
Slide 23: Compelling Core Strengths
Compelling Core Strengths Uniquely positioned to lead as realigned focus and cash generation initiatives take effect OTCQX: AAWH • Industry-leading revenue per dispensary demonstrates the Company’s ability to identify great SUPERIOR FOOTPRINT locations in premiere markets. | CSE: AAWH-U.CN • Ascend
Slide 24: Investor Relations Contact
https://awholdings.com/investors IR@awholdings.com