Filing Flows › Ascend Wellness Holdings (AAWH) › Q2 2026 › vs Q1 2026
Ascend Wellness Holdings (AAWH) Q2 2026 vs Q1 2026 (quarter over quarter)
Ascend Wellness Holdings's revenue rose $9.2M (+8%) from $117M in Q1 2026 to $126M in Q2 2026. The biggest changes: Retail revenue +$9.6M (+12%); Third-party wholesale revenue −$413K (-1%).
Ascend Wellness Holdings, Q2 2026: revenue $126M (-0.9% year over year), operating margin 4.2%, net loss $9.8M, operating cash flow $22.5M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 13.2% | -21.0% | +34.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Retail revenue | $92.7M | $83.1M | $9.6M | +12% |
| Third-party wholesale revenue | $33.4M | $33.8M | −$413K | -1% |
| Revenue | $126M | $117M | $9.2M | +8% |
| Income tax benefit | $5.7M | −$11.9M | $17.6M | — |
| Net loss | $9.8M | $29.5M | −$19.7M | -67% |
| Costs & expenses | $142M | $146M | −$4.8M | -3% |
| Operating costs | $121M | $114M | $6.5M | +6% |
| Interest & other, net | $20.8M | $20.1M | $675K | +3% |
| Cost of revenue | $80.6M | $72.1M | $8.6M | +12% |
| Operating expenses | $40.2M | $42.3M | −$2.1M | -5% |
| Operating cash sources | $32.3M | $10.1M | $22.2M | +220% |
| Depreciation & amortization | $21.1M | $18.3M | $2.8M | +15% |
| Share-based compensation | $499K | $450K | $49K | +11% |
| Working capital & other | $10.7M | −$8.6M | $19.4M | — |
| Net loss absorbed | $9.8M | $29.5M | −$19.7M | -67% |
| Operating cash flow | $22.5M | −$19.4M | $41.9M | — |
| Free cash flow (OCF − capex) | $16.7M | −$24.6M | $41.3M | — |
| Capital expenditures | $5.8M | $5.2M | $598K | +12% |
Questions
How much did Ascend Wellness Holdings's revenue grow quarter over quarter in Q2 2026?
Ascend Wellness Holdings's revenue rose $9.2M (+8%) from $117M in Q1 2026 to $126M in Q2 2026.
What drove Ascend Wellness Holdings's revenue change in Q2 2026?
Retail revenue +$9.6M (+12%); Third-party wholesale revenue −$413K (-1%).