SOURCE Ascend Wellness Holdings, Inc. | DATE: | Monday, May 12, 2025 | | --- | --- | | TIME: | 5:00 p.m. ET | | WEBCAST: | Click to access | | DIAL-IN NUMBER: | 1-888-699-1199 | | | 1-888-660-6345 | | REPLAY: | | | | Replay Code: 04220# | Available until 12:00 midnight ET Monday, May 19, 2025 About Ascend Wellness Holdings, Inc. AWH is a vertically integrated operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania. AWH owns and operates state-of-the-art cultiva ...

Financial Performance - Total revenue for the year ended December 31, 2024, was $9,182,000, a slight increase of $28,000 or 0.3% compared to $9,154,000 in 2023[305] - The net loss for the year ended December 31, 2024, was $13,094,000, a decrease of $3,596,000 or 22% compared to a net loss of $16,690,000 in 2023[305] - Other income increased by $1,386,000 in 2024, primarily due to a one-time federal government award of $2,000,000[315] - The accumulated deficit as of December 31, 2024, was approximately $531,397,000, with expectations of incurring a net loss in 2025[303] Expenses - Cost of product revenue decreased by $189,000 or 5% to $3,703,000 in 2024, primarily due to reduced consulting costs and lab supplies[307] - Research and development expenses decreased by $769,000 or 19% to $3,266,000 in 2024, mainly due to lower employment-related expenses and clinical trial costs[308] - Sales and marketing expenses increased by $334,000 or 4% to $8,146,000 in 2024, driven by costs related to the contracted sales team and increased personnel costs[310] - General and administrative expenses decreased by $1,922,000 or 16% to $10,345,000 in 2024, attributed to reductions in employment-related expenses and consulting costs[311] Cash Flow - Net cash used in operating activities was $12,113,000 for the year ended December 31, 2024, primarily due to a net loss of $13,094,000 and changes in fair value of warrant liabilities totaling approximately $1,346,000[318] - Net cash used in operating activities was $15,894,000 for the year ended December 31, 2023, resulting from a net loss of $16,690,000 and the forgiveness of a DECD loan of $1,000,000[319] - Net cash provided by financing activities was $11,064,000 for the year ended December 31, 2024, mainly from a registered direct offering with net proceeds of $4,830,000[321] - Net cash provided by financing activities was $5,216,000 for the year ended December 31, 2023, primarily from a registered direct offering with net proceeds of $4,119,000[322] Future Outlook - The company plans to continue expanding access to its tests among Medicaid patients and advocate for legislation to enhance product adoption[295] - The company expects to raise additional capital through public or private equity offerings, debt financing, collaborations, or licensing arrangements to continue operations through 2025 and beyond[328] - The company expects to incur a net loss and negative cash flows from operations in 2025[369] - The company expects revenue from its products to be its only material, recurring source of cash in 2025[368] Share Issuance - For the year ended December 31, 2023, the company sold 472,312 shares for gross proceeds of approximately $1,578,000 under the 2023 Equity Line of Credit Agreement[345] - In 2024, the company sold 949,574 shares under the same agreement for gross proceeds of approximately $1,900,000, totaling 1,310,517 shares and approximately $3,078,000 over the agreement's life[346] - The company issued 1,650,473 shares at an offering price of $2.75 per share, generating gross proceeds of approximately $4.7 million from the 2023 Direct Offering[349] - The 2024 Direct Offering generated gross proceeds of approximately $5,563,000 from the issuance of 1,368,600 shares at an offering price of $3.50 per share[352] - The company sold 1,073,050 shares under the 2024 At the Market Offering for gross proceeds of approximately $903,000 during the year ended December 31, 2024[360] - The company raised approximately $1,909,000 from the 2024 Private Placement Offering by issuing 1,248,529 shares and accompanying warrants[357] Licensing and Collaborations - The company entered into a licensing agreement with Harvard's Dana-Farber Cancer Institute, with an initial license fee of $75,000 and potential royalty payments of up to $1,350,000 based on regulatory approvals and commercialization milestones[336] - Royalty expenses for the years ended December 31, 2024, and 2023 totaled $293,000 and $324,000, respectively, related to a research collaboration agreement[333] Financial Position - The company has significant NOL carryforwards as of December 31, 2024, which are subject to a full valuation allowance due to a history of operating losses[323] - The company incurred an accumulated deficit of $531,397,000 and a stockholders' deficit of $2,563,000 as of December 31, 2024[368] - The company has $1,769,000 in cash and cash equivalents and $5,468,000 in current liabilities as of December 31, 2024[368]

Revenue Performance - Record OvaSuite revenue of $9.2 million and volume of 24,305 units sold for the year ended December 31, 2024[1] - Product revenue increased 9.5% to $2.3 million for Q4 2024 compared to $2.1 million for Q4 2023[4] - The number of OvaSuite tests performed increased 6.1% to approximately 6,004 in Q4 2024 compared to approximately 5,659 in Q4 2023[4] Profitability - Gross profit margin improved 6.2 percentage points to 63.4% for Q4 2024 compared to 57.2% for Q4 2023[4] Operating Expenses - Total operating expenses decreased by $0.4 million, or 8%, to $4.9 million for Q4 2024 compared to the same period in 2023[4] - Total operating expenses for the year ended December 31, 2024, were $21.8 million, a decrease of $2.4 million, or 10%, compared to 2023[4] Cash Position - Cash balance as of March 27, 2024, was approximately $3.7 million, excluding a pending $1.5 million ARPA-H milestone payment[4] Strategic Initiatives - The company aims to accelerate top-line revenue growth through an improved go-to-market strategy in 2025[5] - The company received a $10 million Federal Government investment in ENDOinform, which will support its research and development pipeline[5] Pricing - Average unit price (AUP) decreased 1.0% to $378 for the year ended December 31, 2024, compared to $382 for the same period in 2023[4]

Full Year 2024 Net Revenue Increased 8% Year-over-Year to $562 millionFull Year 2024 Adjusted EBITDA1 Increased 9% Year-over-Year to $116 million Second Full Year of Positive Cash from Operations and Positive Free Cash Flow2Company Ended Q4 2024 with $88 Million of Cash and Cash Equivalents NEW YORK, March 12, 2025 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a vertically integrated multi-state cannabis operator focused on bettering lives through cannab ...

NEW YORK, Feb. 18, 2025 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH", "Ascend" or the "Company") (CSE: AAWH-U.CN) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator, today announced that it will hold a conference call on Wednesday, March 12, 2025, at 5:00 PM ET following the release of its fourth quarter 2024 financial results. The earnings conference call may be accessed by dialing 1-888-699-1199. A live webcast will also be available on the Investor Relations section of the AWH ...

AUSTIN, Texas, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Aspira Women’s Health Inc. (“Aspira” or the “Company”) (NASDAQ: AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic tools, today announced that Nicole Sandford, Chief Executive Officer (CEO) and Board member, will be departing the Company to focus on a family health matter. Aspira’s President Dr. Sandra Milligan will step into the role of interim CEO while a nationwide search of internal and externa ...

Core Points - Aspira Women's Health Inc. announced the departure of CEO Nicole Sandford due to family health matters, with President Dr. Sandra Milligan stepping in as interim CEO while a search for a permanent successor is conducted [1][2] - During her tenure, Sandford contributed to the launch of the OvaWatch multivariate assay and secured a $10 million award for endometriosis detection product development, positioning the company for future growth [2] - Aspira focuses on developing non-invasive, AI-powered diagnostic tests for gynecologic diseases, including ovarian cancer and endometriosis [3][5] Company Developments - The OvaSuite portfolio, which includes OvaWatch and Ova1Plus, provides comprehensive blood tests for ovarian cancer risk assessment, with OvaWatch offering a negative predictive value of 99% [4] - Aspira is expanding its ovarian cancer portfolio and developing a non-invasive test for endometriosis, aiming to enhance diagnostic sensitivity and specificity through the combination of microRNA and protein biomarkers with patient data [5]

AUSTIN, Texas, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Aspira Women’s Health Inc. (“Aspira”) (NASDAQ: AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic tools, today announced the successful completion of the first development milestone of its Advanced Research Projects Agency for Health (ARPA-H) award. As a result, Aspira has received a $2 million cash payment under the terms of the related agreement. ARPA-H’s Sprint for Women’s Health was created to ...

Aspira (AWH) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.28. This compares to loss of $0.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.86%. A quarter ago, it was expected that this diagnostic and bio-analytical company would post a loss of $0.32 per share when it actually produced a loss of $0.28, delivering a surprise of 12.50%.Over the last four quarters, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share AWH The Nasdaq Capital Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ ...