Ascend Wellness Holdings Llc Class A · CSE:AAWH.U
Ascend Wellness Holdings Llc Class A — Q2 2022 Earnings Presentation
15 slides from Ascend Wellness Holdings Llc Class A's earnings presentation, Aug 15, 2022
Slide 1: Ascend Wellness Holdings Q2 2022 Earnings Presentation
Ascend Wellness Holdings Q2 2022 Earnings Presentation 1
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 the Ascend Wellness Hold
Slide 3: Abner Kurtin, Chairman, CEO and Founder
ABNER KURTIN CHAIRMAN, CEO AND FOUNDER 3 3
Slide 4: Quarterly Highlights
QUARTERLY HIGHLIGHTS Strong Q2 driven by start of NJ adult-use; Management & Board alignment evidenced by recent Board stock purchases • Strong start to NJ adult-use on April 21st NJ • Rochelle Park is a top performing store in the state; store revenue up 17x since adult- use flip; Fort Lee opened f
Slide 5: Frank Perullo, President, Co-Founder and Chief Strategy Officer
Fort Lee, NJ Dispensary FRANK PERULLO PRESIDENT, CO-FOUNDER AND CHIEF STRATEGY OFFICER 5
Slide 6: New Jersey Retail
NEW JERSEY RETAIL 1 ROCHELLE PARK • Now our #1 revenue generating dispensary, surpassing #1 store in Collinsville, IL • Expanding SKU offering FORT LEE • Medical sales commenced 8/12/22 • Expect adult-use in fall MONTCLAIR • Signed agreement with town • Expect to commence adult-use sales 8/19/22, pe
Slide 7: New Jersey Cultivation
NEW JERSEY CULTIVATION CULTIVATION • Added ~4,000 sq.ft of canopy; 20,000 total • Planted 2 additional flower rooms on 7/25 • 42,000 sq.ft canopy total targeted by year-end PROCESSING • Completed ethanol extraction lab • Kitchen on track for completion by the fall ADDITIONAL • Launched partnership w
Slide 8: Daniel Neville, Chief Financial Officer
DANIEL NEVILLE CHIEF FINANC IAL OFFICER 8
Slide 9: Q2 Financial Highlights
Q2 FINANCIAL HIGHLIGHTS Y/Y: Q2’21 VS. Q2’22 Net Revenue Growth1 Adj. Gross Profit / Margin2 Adj. EBITDA / Margin2 US$ Millions +17.0% US$ Millions 45.6% US$ Millions 47.5% 21.4% 24.4% +12% $97.5 $44.5 +3% $83.4 $39.6 $20.3 $20.9 Margin: Margin: -193 bps -293 bps Q2 '21 Q2 '22 Q2 '21 Q2 '22 Q2 '21 Q
Slide 10: Q2 2022 Balance Sheet and Cash Flow
Q2 2022 BALANCE SHEET AND CASH FLOW 6/30/22 ($ in millions) ($ in millions) Cash & Equivalents 140.6 Fully Diluted Shares Outstanding 193.7 Basic & D i l u t e d (1) To t a l D e b t , n e t (2) 293.3 3/31/22 6/30/22 N e t D e b t (3) 152.7 • $10M net cash used for operations, which includes a $12M
Slide 11: Appendix
APPENDIX 11
Slide 12: Use of Non-GAAP Financial Metrics and Additional Information
USE OF NON-GAAP FINANCIAL METRICS AND ADDITIONAL INFORMATION This presentation includes certain non-GAAP financial measures as defined by the SEC including Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA, and Adjusted EBITDA margin. Reconciliations of these non-GAAP financial measures
Slide 13: GAAP Reconciliations ($000s)
GAAP RECONCILIATIONS ($000S) Non- GAAP Adjustments $ in thousands Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 Adjusted Gross Profit Gross Profit $ 29,667 $ 34,516 $ 40,954 $ 30,835 $ 135,972 $ 23,447 $ 32,968 Gross Margin 44.9% 41.4% 43.4% 34.8% 40.9% 27.6% 33.8% Depreciation and amortiz
Slide 14: 6 States, 22 Operating Dispensaries
ILLINOIS MASSACHUSETTS EXPANDING FOOTPRINT NEW JERSEY 6 states MICHIGAN (1) OHIO 22 operating dispensaries ILLINOIS NEW JERSEY MICHIGAN 8 retail 3 retail 7 retail 2 dispensary pending close2 1 cultivation / processing 1 planned retail1 1 cultivation / processing 1 cultivation / processing PENNSYLVAN
Slide 15: Ascend Wellness Holdings
ASCEND WELLNESS HOLDINGS https://awholdings.com/investors IR@awholdings.com
Ascend Wellness Holdings — Q2 2022 Earnings Presentation on 6ix