Positive cash flow was achieved for the first time since inception, and operations were expanded, including notable acquisitions.
Abner Kurtin, executive chairman, expressed pride in the team for delivering record revenue and positive cash flow, despite the competitive industry dynamics. Frank Perullo, Interim co-CEO and president, agrees that Ascend is generating traction in select markets.
AWH Achieves Positive Cash Flow, Expands Operations
Ascend reported positive cash from operations for the first time since its inception, with a net loss of $18.5 million in the quarter, a significant improvement compared to a net loss of $27.8 million in Q1 2022 and $15.1 million in Q4 2022.
Price Action
Ascend shares were trading 3.23% lower at $1.02 per share at the time of this publication late Wednesday morning.
Photo Credit: Nattanan Kanchanaprat on Pixabay.
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