Ascend Wellness Holdings, Inc. (AAWH) opened its 48th retail location, East Coasting, on April 22 2026, in Eatontown, New Jersey. The store is the latest addition to the company’s densification strategy, which aims to reach 60 locations by the end of the year. East Coasting will operate under a partnership agreement that gives Ascend operational support while the store is owned and managed by cannabis reform advocate Kyle Page, a key figure in the company’s social‑equity program.
The dispensary will be open daily from 9 AM to 9 PM and will host a grand‑opening celebration on April 24 2026, featuring giveaways and in‑store activations. The event underscores Ascend’s commitment to community engagement and to providing ownership opportunities for individuals historically excluded from the cannabis industry.
East Coasting expands Ascend’s presence in New Jersey’s limited‑license adult‑use market, where the company has secured approval for a second social‑equity partner store in Eatontown and is developing additional partnerships in the state. The new location is part of the company’s broader densification strategy, which has already added 12 stores in 2025 and 36 in 2024, bringing the total to 48 as of the end of 2025.
The opening comes as Ascend reported Q4 2025 revenue of $120.5 million, down 3.4% sequentially, and full‑year 2025 revenue of $500.6 million, a decline from $561.6 million in 2024. Despite the revenue dip, the company’s Adjusted EBITDA margin expanded to 25.1% in Q4 2025, up from 23.8% in the prior quarter, driven by a shift toward a more favorable product mix and disciplined cost management. Retail sales accounted for $85.0 million of the $120.5 million in Q4, while wholesale revenue was $35.5 million.
CEO Sam Brill said, “Our Q4 results delivered Adjusted EBITDA margin expansion in line with our guidance at the start of the year, driven by disciplined working capital management, cost controls, and an improved product and sales mix.” He also noted, “Through our densification strategy, we expanded our retail footprint to 47 stores and deliberately reoriented the business toward a customer‑focused, CPG operating model. This shift supported a record number of SKUs and a broader product and brand portfolio, driving market share gains across our core markets.” VP of Social Equity Danielle Drummond added, “Kyle's story reflects both the harm caused by prohibition and the promise of a more equitable cannabis industry. He has demonstrated resilience, leadership, and a deep commitment to community throughout his time with Ascend. East Coasting represents exactly what our social equity partnerships are designed to achieve by creating meaningful ownership opportunities for individuals who were once excluded from this industry.”
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