Filing Flows › Ascend Wellness Holdings (AAWH) › Q1 2026 › vs Q1 2025
Ascend Wellness Holdings (AAWH) Q1 2026 vs Q1 2025 (year over year)
Ascend Wellness Holdings's revenue fell $11.1M (-9%) from $128M in Q1 2025 to $117M in Q1 2026. The biggest changes: Third-party wholesale revenue −$9.8M (-23%); Retail revenue −$1.2M (-1%).
Ascend Wellness Holdings, Q1 2026: revenue $117M (-9% year over year), operating margin 2.2%, net loss $29.5M, operating cash flow −$19.4M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Retail revenue | $83.1M | $84.4M | −$1.2M | -1% |
| Third-party wholesale revenue | $33.8M | $43.6M | −$9.8M | -23% |
| Revenue | $117M | $128M | −$11.1M | -9% |
| Net loss | $29.5M | $19.3M | $10.2M | +53% |
| Costs & expenses | $146M | $147M | −$829K | -0.6% |
| Operating costs | $114M | $126M | −$11.1M | -9% |
| Interest & other, net | $20.1M | $10.7M | $9.4M | +88% |
| Income tax | $11.9M | $11.0M | $876K | +8% |
| Cost of revenue | $72.1M | $88.4M | −$16.4M | -19% |
| Operating expenses | $42.3M | $37.1M | $5.3M | +14% |
| Operating cash sources | $38.1M | $13.1M | $25.1M | +191% |
| Depreciation & amortization | $18.3M | $18.4M | −$120K | -0.7% |
| Share-based compensation | $450K | $628K | −$178K | -28% |
| Cash used in operations | $19.4M | −$5.9M | $25.4M | — |
| Net loss absorbed | $29.5M | $19.3M | $10.2M | +53% |
| Working capital & other | $8.6M | −$6.2M | $14.8M | — |
Questions
How much did Ascend Wellness Holdings's revenue grow year over year in Q1 2026?
Ascend Wellness Holdings's revenue fell $11.1M (-9%) from $128M in Q1 2025 to $117M in Q1 2026.
What drove Ascend Wellness Holdings's revenue change in Q1 2026?
Third-party wholesale revenue −$9.8M (-23%); Retail revenue −$1.2M (-1%).