Ascend Wellness Holdings, Inc. (OTCQX: AAWH) (CSE:AAWH.U) net revenue in 2022, which excludes intercompany sale of wholesale products, increased 22.1% year-over-year to $405.9 million, driven by an increase in retail sales, particularly in New Jersey, and an increase in third party wholesale sales in New Jersey and Massachusetts.
Q4 2022 Financial Highlights
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Net revenue, which excludes intercompany sale of wholesale products, increased 0.8% quarter-over-quarter to $112.1 million, and increased 26.7% year-over year.
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Gross profit was $41.5 million, or 37.0% of revenue, as compared to $36.6 million, or 32.9% of revenue, in Q3 2022.
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Net loss of $15.1 million compared to net loss of $16.9 million in Q3 2022.
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Adjusted EBITDA was $28.2 million, a 1.5% increase quarter-over-quarter and a 42.7% increase year-over-year.
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Adjusted EBITDA margin …