Ascend Wellness Holdings, Inc. (AAWH) reported its financial results for Q4 and full-year ended December 31, 2021.
Net revenue, which excludes intercompany sales of wholesale products, decreased 6.2% quarter-over-quarter to $88.5 million. The decline was driven by lower wholesale prices and lower wholesale volumes sold in Illinois and Massachusetts.
“2021 was a year marked by record sales and the achievement of many significant milestones. I am proud of the team for everything we have accomplished throughout the year. We pursued an aggressive expansion plan, opening six stores, acquiring two stores, and adding 100,000 square feet of canopy, which enabled us to achieve annual revenue growth of more than 130%”. – Abner Kurtin, CEO, and Founder of AWH
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