Retail Revenue was Ascend Wellness Holdings’s largest product and service line in fiscal 2025, bringing in $339.56M of $500.58M (68%).
| Product and Service | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Retail Revenue | $305.94M | $371.17M | $372.24M | $339.56M |
| Third-Party Wholesale Revenue | $99.99M | $147.42M | $189.36M | $161.02M |
| Total | $405.93M | $518.59M | $561.60M | $500.58M |
Ascend Wellness Holdings brought in $500.58M from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 10.9% from $561.60M in fiscal 2024. Retail Revenue was the largest at $339.56M (67.8%), ahead of Third-Party Wholesale Revenue at $161.02M (32.2%).
Compared with fiscal 2024, Retail Revenue fell 8.8% to $339.56M and Third-Party Wholesale Revenue fell 15.0% to $161.02M. From fiscal 2022 to 2025, combined revenue from these lines grew from $405.93M to $500.58M, a compound annual growth rate of 7.2%. Retail Revenue's share of the total fell from 75.4% to 67.8%.
Ascend Illinois was Ascend Wellness Holdings’s largest revenue line in fiscal 2019, bringing in $11.32M of $12.03M (94%).
| Schedule Of Equity Method Investment Equity Method Investee Name | FY 2019 |
|---|---|
| Ascend Illinois | $11.32M |
| Ascend Michigan | $708.00K |
| Total | $12.03M |
Ascend Wellness Holdings brought in $12.03M from its two revenue lines in fiscal 2019, the year ended December 31, 2019. Ascend Illinois was the largest at $11.32M (94.1%), ahead of Ascend Michigan at $708.00K (5.9%).
Moca was Ascend Wellness Holdings’s largest revenue line in fiscal 2019, bringing in $7.86M of $11.93M (66%).
| Business Acquisition | FY 2019 |
|---|---|
| Moca | $7.86M |
| Midway | $4.06M |
| Total | $11.93M |
Ascend Wellness Holdings brought in $11.93M from its two revenue lines in fiscal 2019, the year ended December 31, 2019. Moca was the largest at $7.86M (65.9%), ahead of Midway at $4.06M (34.1%).
Ascend Wellness Holdings (AAWH) reports its revenue by product and service, by schedule of equity method investment equity method investee name and by business acquisition. In fiscal 2025, Retail Revenue was its largest product and service line, bringing in $339.56M (67.8% of the total), followed by Third-Party Wholesale Revenue at $161.02M (32.2%).
Retail Revenue was Ascend Wellness Holdings' largest product and service line in fiscal 2025, bringing in $339.56M, or 67.8% of the $500.58M total across its two product and service lines.
Ascend Illinois was Ascend Wellness Holdings' largest revenue line in fiscal 2019, bringing in $11.32M, or 94.1% of the $12.03M total across its two revenue lines.
Every figure comes from Ascend Wellness Holdings' annual financial filings, as reported. Each line keeps the name Ascend Wellness Holdings gives it, and years follow its fiscal calendar.
Ascend Wellness Holdings' revenue by product and service goes back to fiscal 2022, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.