Ascend Wellness, MariMed Report Higher Q2 Revenue As Retail Cannabis Sales Drive Growth

By Jelena Martinovic, Featured Writer

U.S. cannabis operators Ascend Wellness Holdings, Inc. (CSE: AAWH-U.CN) (OTCQX: AAWH) and MariMed Inc. (CSE: MRMD) (OTCQB: MRMD) reported higher second-quarter revenue on Thursday.

According to their press releases, growth in their retail businesses and branded products was a key driver of performance for both companies. Ascend’s results pointed to operating leverage, while MariMed emphasized record sales and continued brand expansion.

Ascend Wellness Q2 Financial Highlights

• Revenue increased 7.9% quarter-over-quarter to $126.1 million. That’s down 0.93% year-over-year.
• Adjusted EBITDA came in positive at $29.1 million, up 10.6% sequentially. Adjusted EBITDA margin was 23.1%, up from 22.5% in the first quarter.
• Gross profit totaled $45.5 million, compared with $44.9 million in the prior period and $41.4 million in the corresponding quarter of last year.
• Net loss amounted to $9.8 million, representing a significant improvement from $29.5 million in the first quarter and $24.4 million in the second quarter of 2025.
• Operating cash flow was $22.5 million, versus $17.8 million in the second quarter of 2025. Free cash flow was $19.5 million.
• Management anticipates revenue to increase 2%–4% quarter-over-quarter, with adjusted EBITDA margin expected to remain around 23.1%.

“Our growth strategy continues to demonstrate broad, system-wide results,” Sam Brill, CEO and director of AWH, said in a press release. “We’re consistently adding retail doors, selling more of our own brands through them, and seeing strong financial performance as a result. This model provides a compounding benefit to our core business and a very attractive return on invested capital, and we have ample runway to continue executing this playbook.”

AAWH Price Action

Ascend Wellness’ share traded 1.19% lower at $0.415 per share after the market close on Wednesday.

MariMed Q2 Financial Highlights

• Revenue was $41.9 million, representing a 6.1% year-over-year increase.
• Retail revenue totaled $23.2 million, up 4% year-over-year, while wholesale revenue was $18.5 million, up 8.1% year-over-year.
• Adjusted EBITDA came in positive at $3.9 million. That’s down 17.5% year-over-year from $4.8 million. Adjusted EBITDA margin declined to 9.4% from 12.1%.
• Operating cash flow amounted to $3.2 million in the first half of 2026, versus $1.6 million in the first half of 2025.
• GAAP net loss was $3.6 million, widening year-over-year from $1.4 million.

“Our stronger financial performance was driven by a continued focus on our priorities: operational discipline, product innovation and quality, customer experience and thoughtful capital allocation,” Jon Levine, MariMed’s CEO, said in a press release. “Our balance sheet remains healthy, our brands keep resonating with consumers, and our operating model gives us the flexibility to respond quickly as markets and new opportunities evolve.”

MRMD Price Action

MariMed’s shares traded 8.57% lower at $0.0640 per share after the market close on Wednesday.