CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 87,272	$ 88,254
Accounts receivable, net	28,846	36,542
Inventory	82,681	89,552
Notes receivable	285	4,100
Other current assets	10,130	10,928
Total current assets	209,214	229,376
Property and equipment, net	288,903	260,461
Operating lease right-of-use assets	122,259	139,067
Intangible assets, net	206,865	205,502
Goodwill	57,780	49,599
Other noncurrent assets	15,341	16,426
TOTAL ASSETS	900,362	900,431
Current liabilities
Accounts payable and accrued liabilities	58,104	59,435
Current portion of debt, net	25,302	73,881
Operating lease liabilities, current	4,813	5,469
Income taxes payable	2,452	696
Other current liabilities	5,333	5,060
Total current liabilities	96,004	144,541
Long-term debt, net	343,749	234,542
Operating lease liabilities, noncurrent	243,253	267,221
Deferred tax liabilities, net	18,740	23,439
Other non-current liabilities	196,038	158,887
Total liabilities	897,784	828,630
Commitments and contingencies (Note 15)
Stockholders' Equity
Preferred stock, $0.001 par value per share; 10,000 shares authorized, none issued and outstanding as of September 30, 2025 and December 31, 2024	0	0
Additional paid-in capital	471,399	471,129
Accumulated deficit	(469,846)	(400,356)
Equity of Ascend Wellness Holdings, Inc. common stockholders	1,755	70,978
Non-controlling interests	823	823
Total stockholders' equity	2,578	71,801
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	900,362	900,431
Class A common stock
Stockholders' Equity
Class A and Class B common stock	202	205
Class B common stock
Stockholders' Equity
Class A and Class B common stock	$ 0	$ 0