Ascend Wellness Holdings (AAWH) Cost of Revenue (2020 - 2026)
Ascend Wellness Holdings (AAWH) recorded Cost of Revenue of $80.63 million in Q2 2026, down 6.2% from $85.91 million a year earlier but up 11.9% from the prior quarter.
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Analysis
Ascend Wellness Holdings (AAWH) Cost of Revenue (2020 - 2026) Analysis & Trends
On a TTM basis, Ascend Wellness Holdings' Cost of Revenue came in at $309.23 million as of Jun 30, 2026, down 14.4% year-over-year; for FY2025, it came in at $330.9 million, down 12.3% from FY2024.
- Annual Cost of Revenue has a five-year compound annual growth rate of 31.9% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $377.39 million in FY2024 (+3.8%), $363.47 million in FY2023 (+33.9%), $271.36 million in FY2022 (+38.2%) and $196.41 million in FY2021 (+137.2%).
- Quarterly Cost of Revenue has ranged from $53.43 million in Q3 2021 to $99.96 million in Q2 2024 over the past five years.
- On a year-over-year basis, Cost of Revenue has declined for seven consecutive quarters, with an average decline of 9.6% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 131.1% in Q3 2021, against a decline of 18.5% in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $72.05 million (Q1 2026), $75.42 million (Q4 2025) and $81.13 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 292.24 Bn | 273.81 Bn | 7.66 Bn | 3.53 Bn |
| 2 | British American Tobacco p.l.c | 121.70 Bn | 100.85 Bn | - | - |
| 3 | Altria | 112.46 Bn | 98.66 Bn | 3.82 Bn | 1.54 Bn |
| 4 | Curaleaf Holdings | 2.67 Bn | 2.27 Bn | 169.91 Mn | 170.19 Mn |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 82.40 Mn |
| 6 | Trulieve Cannabis | 2.06 Bn | 674.09 Mn | 162.29 Mn | 108.66 Mn |
| 7 | Green Thumb Industries | 1.30 Bn | 155.26 Mn | 137.87 Mn | 168.81 Mn |
| 8 | Cronos | 1.19 Bn | -2.03 Bn | 28.45 Mn | 42.15 Mn |
| 9 | Turning Point Brands | 1.12 Bn | 246.72 Mn | 93.70 Mn | 49.26 Mn |
| 10 | Ascend Wellness Holdings | 211.17 Mn | -88.87 Mn | 45.49 Mn | 80.63 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 80.63 Mn |
| Mar 31, 2026 | 72.05 Mn |
| Dec 31, 2025 | 75.42 Mn |
| Sep 30, 2025 | 81.13 Mn |
| Jun 30, 2025 | 85.91 Mn |
| Mar 31, 2025 | 88.44 Mn |
| Dec 31, 2024 | 89.14 Mn |
| Sep 30, 2024 | 97.92 Mn |
| Jun 30, 2024 | 99.96 Mn |
| Mar 31, 2024 | 90.37 Mn |
| Dec 31, 2023 | 92.62 Mn |
| Sep 30, 2023 | 97.71 Mn |
| Jun 30, 2023 | 94.67 Mn |
| Mar 31, 2023 | 78.47 Mn |
| Dec 31, 2022 | 70.59 Mn |
| Sep 30, 2022 | 74.60 Mn |
| Jun 30, 2022 | 64.53 Mn |
| Mar 31, 2022 | 61.64 Mn |
| Dec 31, 2021 | 57.66 Mn |
| Sep 30, 2021 | 53.43 Mn |
API Access
Ascend Wellness Holdings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AAWH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "AAWH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AAWH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();