Ascend Wellness Holdings Llc Class A · CSE:AAWH.U
Ascend Wellness Holdings Llc Class A — Investor Presentation (August 2024)
15 slides from Ascend Wellness Holdings Llc Class A's investor presentation, August 2024
Slide 1: Ascend Wellness Holdings Q2 2024 Investor Overview Presentation
Ascend Wellness Holdings Q2 2024 Investor Overview Presentation CSE: AAWH-U.CN; OTCQX: AAWH WWW.AWHOLDINGS.COM/INVESTORS
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
CAUTIONARY STATEMENT Regarding Forward-Looking Statements 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 Wellness Holdings
Slide 3: Cannabis Market by the Numbers
CANNABIS MARKET BY THE NUMBERS Unprecedented growth across the emerging industry with room for continued expansion SALES STATES SUPPORT $30Bn 21 68% US LEGAL SALES 1 STATES PLUS DC ACTIVE US CITIZENS IN 2023 RECREATIONAL PROGRAMS 3 SUPPORT LEGALIZATION 4 $58Bn 38 >92% US LEGAL SALES STATES HAVE SCHE
Slide 4: Overview
OVERVIEW Vertically integrated operator with assets in Illinois, Massachusetts, Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. Owns and operates state-of-the-art cultivation facilities; grows award-winning strains and produces a curated selection of products. Revenue ($M) Founded 2018 586 6
Slide 5: Solid Investment Thesis
SOLID INVESTMENT THESIS Bullish on the investment thesis and prospects for the Company STRONG BALANCE • Completed first full year of positive Cash from Operations (CFO) and Positive Free Cash Flow (FCF) Expect to generate positive CFO and FCF for 2024 FY(1) SHEET • • Recently refinanced term loan; p
Slide 6: Densifying Existing Footprint
DENSIFYING EXISTING FOOTPRINT 6 OPERATING OPERATING PLANNED STATE CULTIVATION & DISPENSARIES DISPENSARIES PROCESSING (C&P) 12 recreational 1 C&P ILLINOIS (includes 2 partners1) 108,000 sq. ft canopy2 2 C&P MASSACHUSETTS 3 recreational 67,000 sq. ft canopy2 1 partnership under 1 C&P NEW JERSEY 3 recr
Slide 7: Flagship Locations
FLAGSHIP LOCATIONS Flagship locations driving highest annualized revenue per dispensary1 in the industry Prioritize high-traffic locations Significant parking Optimized retail footprint 7 1) Source: ATB Capital Markets, Inc.,
Slide 8: Upside in Today's Portfolio
UPSIDE IN TODAY’S PORTFOLIO 1 Upside from assets “turning on”, markets flipping to adult-use, and addition of partner stores Cincinnati, OH IL Partner Whitehall, PA NJ Partner Dispensary Dispensary 1 Dispensary Dispensary Monaca, PA IL Partner 6th PA Dispensary Dispensary 2 Dispensary OH Non-Medical
Slide 9: Strengthening In-House Product Bench
STRENGTHENING IN-HOUSE PRODUCT BENCH Completing the good-better-best spectrum; continue to complement with partner brands #3 in IL1 #1 in MA1 #3 in NJ1 The smoke you smoke Cannabis without Grab n’ Go, Ready to Rip The easy way up when you wanna great Curated fire phenos compromise. smoke IL, MA, NJ,
Slide 10: Completed Raise of Senior Secured Notes
COMPLETED RAISE OF SENIOR SECURED NOTES Successfully refinanced term loan over a year prior to maturity at attractive terms relative to industry Refinanced $215M of current August 2025 Term $235M 5.25% Loan RAISED IN SENIOR ORIGINAL ISSUANCE $60M stub piece at previous interest rate ~9.5% SECURE
Slide 11: Q2 2024 Balance Sheet and Cash Flow
Q2 2024 BALANCE SHEET AND CASH FLOW Q2 Cash & Equivalents ($ in millions) 6/30/24 100 (in millions) 90 32.3 83.7 Cash & 80 72.9 -16.9 -4.6 Equivalents $83.7 70 60 Fully Diluted 50 Shares 40 Outstanding 230.9 30 20 Basic & 10 D i l u t e d (1) Cash inflow Cash Cash 0 from used in used in To t a l D e
Slide 12: Appendix
A P P EN DIX 12
Slide 13: GAAP Reconciliations
GAAP RECONCILIATIONS Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Adjusted Gross Profit Gross Profit $ 35,704 $ 28,319 $ 43,556 $ 47,541 $ 155,120 $ 52,037 $ 41,573 Gross Margin 31.3% 23.0% 30.8% 33.9% 29.9% 36.5% 29.4% Depreciation and amortization included in cost of goods sold 6,327 8,
Slide 14: Use of Non-GAAP Financial Metrics
USE OF NON-GAAP FINANCIAL METRICS And Additional Information 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 financial measures, as defined by the SEC, including
Slide 15: Ascend Wellness Holdings
ASCEND WELLNESS HOLDINGS https://awholdings.com/investors IR@awholdings.com
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