Q4 2025 and FY 2025 revenue expected to be ~$120 million and ~$500 million, respectively Q4 2025 and FY 2025 Adjusted EBITDA projected at ~$30 million and ~$117 million Balance sheet strength with $86 million cash and no significant debt maturities until 2029 Q4 & FY 2025 earnings call scheduled for Thursday, March 12, at 5:00 PM ET NEW YORK, Feb. 9, 2026 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH", "Ascend" or the "Company") (CSE: AAWH-U) (OTCQX: AAWH), a multi-state, vertically integrated cannab ...

As filed with the Securities and Exchange Commission on December 31, 2025 Registration Statement No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ASPIRA WOMEN'S HEALTH INC. (Exact name of registrant as specified in its charter) | Delaware | 2835 | 33-0595156 | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. Employer | | incorporation or organization) | Classificatio ...

Financial Performance - Total revenue for Q3 2025 was $2,305,000, a 2.1% increase from $2,257,000 in Q3 2024[10] - Gross profit for Q3 2025 was $1,383,000, compared to $1,355,000 in Q3 2024, reflecting a gross margin improvement[10] - Net loss for Q3 2025 was $4,892,000, compared to a net loss of $3,547,000 in Q3 2024, representing an increase in losses[10] - For the nine months ended September 30, 2025, the company reported a net loss of $9,411,000, an improvement from a net loss of $11,706,000 for the same period in 2024, representing a 19.7% reduction in losses[14] - Product revenue for the three months ended September 30, 2025, was $2,305,000, a 2% increase from $2,257,000 in the same period in 2024[190] - Product revenue for the nine months ended September 30, 2025, was $6,988,000, a 2% increase from $6,833,000 in 2024[202]. Expenses and Cost Management - Operating expenses for Q3 2025 totaled $2,962,000, down from $5,099,000 in Q3 2024, indicating a significant reduction in costs[10] - Research and development expenses for Q3 2025 were $739,000, down from $908,000 in Q3 2024, indicating a focus on cost management[10] - Personnel costs for the three months ended September 30, 2025, were $1,635,000, down from $3,294,000 in the same period of 2024, showing a reduction of 50.5%[32] - Sales and marketing expenses for the three months ended September 30, 2025, decreased by $1,460,000, or 68%, compared to the same period in 2024[196]. - General and administrative expenses for the three months ended September 30, 2025, decreased by $508,000, or 25%, compared to the same period in 2024[197]. Cash and Assets - Cash and cash equivalents increased to $3,809,000 as of September 30, 2025, up from $1,769,000 at December 31, 2024[9] - Total assets rose to $7,296,000 as of September 30, 2025, compared to $5,491,000 at December 31, 2024[9] - Total liabilities increased to $11,640,000 as of September 30, 2025, up from $8,054,000 at December 31, 2024[9] - The accumulated deficit increased to $540,808,000 as of September 30, 2025, compared to $531,397,000 at December 31, 2024[9] Shareholder and Capital Management - The company issued 6,550,000 shares under a private placement offering, raising approximately $2,815,000 net of issuance costs[12] - The company plans to raise capital through equity offerings and may experience significant dilution for existing shareholders[20] - The company has outstanding warrants that may be exercised, although there is no assurance that they will be[19] Market and Product Development - The company’s operations are focused on developing and commercializing diagnostic tests for gynecologic disease, including the Ova1Plus workflow and OvaWatch[17] - The company plans to broaden its commercial focus from ovarian cancer to include differential diagnosis of other gynecological diseases, which is expected to enhance market opportunities[154] - The addressable market for the company's tests is projected to increase to between 2 and 4 million tests per year following the successful expansion of the OvaWatch test features[166] - The ENDOinform program aims to develop a multi-marker test for diagnosing endometriosis, targeting a market of over 6.5 million women in the U.S.[165] Operational Highlights - The number of OvaSuite tests performed decreased by 5% to 5,727 during the three months ended September 30, 2025, compared to 6,001 tests in the same period in 2024[191] - The company rebalanced its salesforce, resulting in a 167% increase in sales per full-time equivalent salesperson in Q3 2025 compared to Q3 2024[180] - OvaWatch was approved for sale in New York State, expanding the distribution agreement with BioReference to include this product[169] Regulatory and Compliance - The company’s common stock was delisted from Nasdaq on April 15, 2025, due to failure to meet the minimum stockholders' equity requirement[22] - The company has applied for an LCD for OvaWatch, which is currently under review, to enhance reimbursement coverage[173] Future Outlook - The company expects to continue incurring net losses and negative cash flows from operations for the remainder of 2025[18] - The company is evaluating the potential impact of ASU 2023-09, which addresses income tax disclosures, effective for fiscal years beginning after December 15, 2024[43]

Revenue Performance - Aspira reported total product revenues of $2.3 million for Q3 2025, remaining flat compared to Q3 2024, with a 7.0% year-over-year increase in average unit price per test[1][2] - The company generated approximately $7.0 million in revenue for the nine months ending September 30, 2025, with a 9.3% increase in average unit price, offset by a 6.4% decrease in the number of tests sold[6] - Total revenue for Q3 2025 was $2,305,000, a 2.1% increase from $2,257,000 in Q3 2024[16] Profitability and Expenses - Gross profit increased to approximately $4.5 million for the nine months ended September 30, 2025, representing a 12.2% increase, with gross margins improving to 64.1% from 58.4% year-over-year[6] - Operating expenses in Q3 2025 totaled $2,962,000, down from $5,099,000 in Q3 2024, indicating a significant reduction[16] - Total operating expenses decreased to $11.1 million for the nine months ended September 30, 2025, a 34.0% reduction from $16.8 million in the same period in 2024[6] - Cash used in operations was $5.0 million for the nine months ended September 30, 2025, representing a 54.5% reduction compared to $11.1 million in the same period in 2024[6] - Net loss for Q3 2025 was $4,892,000, compared to a net loss of $3,547,000 in Q3 2024, showing an increase in losses[16] - Net loss per share for Q3 2025 was $0.13, compared to $0.23 in Q3 2024[16] - Research and development expenses decreased to $739,000 in Q3 2025 from $908,000 in Q3 2024[16] - Sales and marketing expenses significantly decreased to $683,000 in Q3 2025 from $2,143,000 in Q3 2024[16] - General and administrative expenses were $1,540,000 in Q3 2025, down from $2,048,000 in Q3 2024[16] Assets and Liabilities - Aspira's current liabilities decreased to $4.2 million as of September 30, 2025, a 23.2% reduction from $5.5 million reported on December 31, 2024[7] - Total assets increased to $7.3 million as of September 30, 2025, compared to $5.5 million as of December 31, 2024[15] Sales Performance - The company achieved a 167% increase in sales per full-time equivalent salesperson in Q3 2025 compared to Q3 2024, driven by a focus on large healthcare systems[6] Strategic Focus - Aspira is emphasizing profitable revenue growth over specimen volume, with a compensation shift to incentivize this change starting in Q3 2025[3][4] - The company is maintaining strong momentum in research and development, particularly with the ENDOinform™ test, expecting to share updates as it approaches commercial readiness[8] Cost of Revenue - Total cost of revenue for Q3 2025 was $922,000, compared to $902,000 in Q3 2024, showing a slight increase[16]

Core Insights - Ascend Wellness Holdings, Inc. reported Q3 2025 net revenue of $124.7 million, a 2.0% sequential decline, primarily due to a 3.1% decrease in retail revenue, which was partially offset by a slight increase in wholesale revenue [4][5][6] - The company achieved an Adjusted EBITDA of $31.1 million for Q3 2025, representing a margin of 24.9%, with an 8.9% increase quarter-over-quarter [3][11] - Ascend expanded its market presence by adding seven new stores year-to-date, bringing its total to 46 locations nationwide, and plans to open additional stores in New Jersey [6][19] Financial Highlights - Q3 2025 net revenue was $124.7 million, down from $127.3 million in Q2 2025 [4][10] - Retail revenue totaled $83.8 million, reflecting a 3.1% sequential decline due to price compression and lower transaction volumes [5][10] - Wholesale revenue increased by 0.3% to $41.0 million, driven by a strategic shift towards higher-margin finished products [7][10] - Adjusted Gross Profit was $57.8 million, or 46.4% of revenue, compared to $55.3 million, or 43.4% in Q2 2025 [8][10] - The company reported a net loss of $25.8 million for Q3 2025, compared to a loss of $24.4 million in the previous quarter [10][11] Operational Developments - The company executed a densification strategy by adding seven new retail stores, with plans for 13 additional stores to reach a target of 60 locations within the next 12 months [6][19] - Ascend launched over 420 new SKUs year-to-date, with a goal of nearly 550 SKU launches for the full year [6][8] - The company introduced new product lines, including effects-based vapes and gummies, enhancing its brand portfolio [6][8] Capital and Financing - Ascend completed a $9.3 million mortgage financing secured by its Ohio assets at an interest rate of 8.5% [3][10] - Cash and cash equivalents at the end of Q3 2025 were $87.3 million, with net debt reported at $281.8 million [12][14]

As filed with the Securities and Exchange Commission on October 20, 2025 Registration Statement No. 333-290633 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 1 to FORM S-1 ASPIRA WOMEN'S HEALTH INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 2835 33-0595156 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) REGISTRATION STATEMENT UNDER THE S ...

Core Points - Ascend Wellness Holdings, Inc. (AWH) will hold a conference call on November 10, 2025, at 5:00 PM ET to discuss its third quarter 2025 financial results [1][2] - The conference call can be accessed via a dial-in number or a live webcast, which will also be archived for replay [2] Company Overview - AWH is a multi-state, vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania [2] - The company owns and operates advanced cultivation facilities, producing award-winning strains and a curated selection of products for both retail and wholesale customers [2] - AWH's product lines include in-house brands such as Simply Herb, Ozone, Ozone Reserve, High Wired, Effin', Common Goods, and Royale [2]

As filed with the Securities and Exchange Commission on September 30, 2025 Registration Statement No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ASPIRA WOMEN'S HEALTH INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 2835 33-0595156 (I.R.S. Employer Identification Number) 1 ...

Core Insights - Ascend Wellness Holdings, Inc. (AWH) has successfully closed a secured financing transaction amounting to $9,345,000 with CF Bank, utilizing real estate as collateral on three properties in Ohio [1] - The financing carries an interest rate of 8.5% per annum and is set to mature in September 2030, which is expected to enhance AWH's balance sheet and support its growth in Ohio's cannabis market [1] - AWH operates in multiple states, including Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania, and produces a variety of cannabis products under several brands [1] Financing Details - The secured financing transaction is referred to as the Ohio Mortgage Loan, which is backed by real estate owned by AWH in Cincinnati, Sandusky, and Piqua, Ohio [1] - The competitive interest rate of 8.5% is positioned as a low-cost capital financing option for the company [1] Company Positioning - AWH's CEO, Sam Brill, emphasized that this financing transaction positions the company well to serve patients and local communities while pursuing further growth opportunities [1] - The company aims to deliver value to shareholders through strategic financial maneuvers and operational expansions in the emerging Ohio market [1]

Executive Summary & Business Update [Second Quarter 2025 Highlights](index=1&type=section&id=Second%20Quarter%20Highlights) Aspira reported stable total product revenue of **$2.404 million** in Q2 2025, with **12% year-over-year AUP growth** for its commercial portfolio despite significant business model changes and a reduced sales team Second Quarter 2025 Key Metrics: | Metric | Q2 2025 | Q2 2024 | YoY Change | | :-------------------------------- | :---------- | :---------- | :--------- | | Total Product Revenue (Millions) | $2.404 | $2.423 | -0.78% | | Commercial Product Portfolio AUP Growth | - | - | 12% | | Ova1Plus AUP Growth | - | - | 11% | | OvaWatch AUP Growth | - | - | 16% | - Aspira underwent a significant reset of its business model and market strategies, focusing heavily on relationships with leading large-scale healthcare systems and Integrated Delivery Networks (IDNs) to improve efficiency and profitability[4](index=4&type=chunk) - The specialist field sales team delivered Q2 results with a team of **7**, a substantial reduction from **19** in the same period of 2024, indicating improved sales efficiency[4](index=4&type=chunk) [First Half 2025 Financial & Operational Performance](index=1&type=section&id=Key%20financial%20highlights%20for%20the%20six%20months%20ended%20June%2030%2C%202025) Aspira's H1 2025 revenue grew **2.3%** to **$4.683 million**, driven by **10.3% AUP increase**; gross profit rose **17.4%** to **$3.1 million** with **66.1% margin**, while operating expenses decreased **31%** and cash burn reduced **41%** First Half 2025 Key Financial & Operational Highlights: | Metric | H1 2025 | H1 2024 | YoY Change | | :-------------------------------- | :---------- | :---------- | :--------- | | Total Revenue (Millions) | $4.683 | $4.576 | 2.3% | | Gross Profit (Millions) | $3.1 | $2.6 | 17.4% | | Gross Margin | 66.1% | 57.6% | +8.5 pts | | Total Operating Expenses (Millions) | $8.1 | $11.7 | -31% | | Cash Used in Operations (Millions) | $4.8 | $8.2 | -41% | | Current Liabilities (as of period end, Millions) | $4.1 (Jun 30, 2025) | $5.5 (Dec 31, 2024) | -25.1% | - Sales per full-time equivalent salesperson (FTE) increased by **156%** in Q2 2025 compared to Q2 2024, reflecting improved sales productivity due to marketing strategy changes and emphasis on large healthcare systems[5](index=5&type=chunk) - The increase in **gross profit** and **improved margins** were primarily due to an adjustment to prior quarter revenue from collections exceeding previous estimates and improved profitability of the OvaWatch product line[7](index=7&type=chunk) - **Operating expense reductions** were driven by decreases in selling expenses (**$2.3 million**), general and administrative expenses (**$1.1 million**), and research and development expenses (**$0.2 million**), largely due to headcount reductions and cost containment[7](index=7&type=chunk) [Management and Board Commentary](index=2&type=section&id=Management%20and%20Board%20Commentary) CEO Mike Buhle highlighted improved sales productivity and gross profit margins, emphasizing efforts to reduce operating expenses and strengthen financial position, while reiterating commitment to ENDOInform™ R&D timeline with updates expected by end of 2025 - CEO Mike Buhle's **top priorities** include driving **commercial team efficiencies**, **reducing operating expenses and liabilities**, and **strengthening Aspira's financial position**[6](index=6&type=chunk) - Aspira remains committed to completing R&D milestones for **ENDOInform™** and expects to provide **material updates by the end of 2025**[6](index=6&type=chunk) - The Board of Directors is **optimistic** about the new strategy and operating initiatives, believing the company is making **unprecedented advancements** in ovarian cancer and endometriosis diagnostic tools[8](index=8&type=chunk) [Summary Financial Metrics (Q2 & H1 2025 vs. 2024)](index=3&type=section&id=The%20following%20table%20summarizes%20the%20key%20financial%20metrics) This section presents key financial metrics for Q2 and H1 2025 versus 2024, including total revenue, gross margin, OvaSuite volume, and Average Unit Price Key Financial Metrics (Amounts in Thousands, Except Percentages): | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Total Revenue | $2,404 | $2,423 | $4,683 | $4,576 | | Gross Margin | 63.8% | 58.6% | 66.1% | 57.6% | | Total OvaSuite Volume | 5,728 | 6,471 | 11,407 | 12,300 | | Total AUP | $420 | $374 | $411 | $372 | Company Overview [About Aspira Women's Health Inc.](index=3&type=section&id=About%20Aspira%20Women%27s%20Health%20Inc.) Aspira Women's Health Inc. is an AI-enhanced bio-analytics company developing noninvasive diagnostic tests for gynecologic diseases like ovarian cancer and endometriosis - Aspira Women's Health Inc. focuses on **noninvasive, AI-powered tests** for diagnosing gynecologic diseases[11](index=11&type=chunk) [Product Portfolio and Pipeline](index=3&type=section&id=Product%20Portfolio%20and%20Pipeline) Aspira's commercial portfolio, OvaSuite, offers blood tests for ovarian cancer risk assessment, while its pipeline focuses on enhanced ovarian cancer tests and the first non-invasive tests for endometriosis - Current commercial products (**OvaSuite**) include **OvaWatch** (**99% negative predictive value** for indeterminate/benign masses) and **Ova1Plus** (a reflex process of FDA-cleared tests Ova1® and Overa® for ovarian malignancy risk)[11](index=11&type=chunk)[12](index=12&type=chunk) - The in-development pipeline includes **enhanced ovarian cancer tests** combining microRNA and protein biomarkers with patient data, and the **first-ever non-invasive test for endometriosis**, initially targeting endometriomas and later all endometriosis types[13](index=13&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section outlines forward-looking statements, emphasizing inherent risks and uncertainties that may cause actual results to differ materially, with no obligation to update except as legally required - Forward-looking statements involve **risks and uncertainties**, and actual results could **differ materially** from those discussed[14](index=14&type=chunk) - Aspira expressly **disclaims any obligation to update** these forward-looking statements, except as required by law[14](index=14&type=chunk) Financial Statements [Condensed Consolidated Balance Sheets (Unaudited)](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20%28unaudited%29) As of June 30, 2025, Aspira's total assets decreased to **$4.934 million**, total liabilities decreased to **$7.619 million**, and stockholders' deficit slightly increased to **$(2.685) million** Condensed Consolidated Balance Sheets (Amounts in Thousands): | Asset/Liability | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | **Assets** | | | | Cash and cash equivalents | $1,545 | $1,769 | | Accounts receivable, net | $1,278 | $990 | | Prepaid expenses and other current assets | $590 | $1,098 | | Inventories | $273 | $326 | | **Total current assets** | **$3,686** | **$4,183** | | Property and equipment, net | $44 | $69 | | Right-of-use assets | $1,077 | $1,194 | | Other assets | $127 | $45 | | **Total assets** | **$4,934** | **$5,491** | | **Liabilities and Stockholders' Deficit** | | | | Accounts payable | $1,743 | $2,173 | | Accrued liabilities | $1,829 | $2,445 | | Current portion of long-term debt | $232 | $229 | | Short-term debt | $154 | $614 | | Current maturities of lease liabilities | $140 | $7 | | **Total current liabilities** | **$4,098** | **$5,468** | | Long-term debt | $1,160 | $1,278 | | Non-current maturities of lease liabilities | $1,121 | $1,248 | | Warrant liabilities | $1,240 | $60 | | **Total liabilities** | **$7,619** | **$8,054** | | **Stockholders' deficit** | **$(2,685)** | **$(2,563)** | | **Total liabilities and stockholders' deficit** | **$4,934** | **$5,491** | [Condensed Consolidated Statements of Operations (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20%28unaudited%29) For H1 2025, Aspira reported **$4.683 million** in revenue, with net loss significantly improving to **$(4.519) million** from **$(8.159) million** year-over-year, and loss from operations narrowing to **$(5.050) million** Condensed Consolidated Statements of Operations (Amounts in Thousands, Except Per Share Data): | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Product Revenue | $2,404 | $2,423 | $4,683 | $4,576 | | Total Revenue | $2,404 | $2,423 | $4,683 | $4,576 | | Cost of Revenue | $870 | $1,002 | $1,589 | $1,941 | | Gross Profit | $1,534 | $1,421 | $3,094 | $2,635 | | Research and development | $704 | $952 | $1,677 | $1,858 | | Sales and marketing | $679 | $2,137 | $1,765 | $4,026 | | General and administrative | $1,961 | $2,725 | $4,702 | $5,854 | | Total operating expenses | $3,344 | $5,814 | $8,144 | $11,738 | | Loss from operations | $(1,810) | $(4,393) | $(5,050) | $(9,103) | | Change in fair value of warrant liabilities | $(624) | $889 | $297 | $1,140 | | Change in fair value of convertible notes | - | - | $170 | - | | Loss upon issuance of Convertible Notes | - | - | $(1,198) | - | | Interest expense, net | $(13) | $(10) | $(27) | $(15) | | Other (expense) income, net | $(219) | $(16) | $1,289 | $(181) | | Total other (expense) income, net | $(856) | $863 | $531 | $944 | | Net loss | $(2,666) | $(3,530) | $(4,519) | $(8,159) | | Net loss per share - basic and diluted | $(0.07) | $(0.28) | $(0.16) | $(0.67) | | Weighted average common shares | 35,564,032 | 12,518,725 | 28,579,132 | 12,181,481 |