Ascend Wellness Holdings announced a partnership with Mister Jones, LLC to open a new retail dispensary in Little Falls, New Jersey, on December 19 2025. The deal gives Ascend capital and product supply for the store, while Mister Jones brings local advocacy and operational expertise. The partnership is part of Ascend’s broader plan to reach 60 retail locations by the end of 2026, focusing on high‑density, socially equitable communities.
The partnership is significant because it is one of the first retail collaborations under New Jersey’s Assembly Bill A4151, which expands investment opportunities for diversely‑owned cannabis businesses. Mister Jones, founded by former Ascend Montclair floor supervisor Lerone Jones, has a track record of community advocacy and operational experience, positioning the new store to serve a socially equitable market while complying with state regulations.
Ascend’s densification strategy targets premium locations in existing markets. The Little Falls store adds to a pipeline of 13 new sites that the company expects to open over the next 12 months, bringing the total to 60 by the end of 2026. The expansion is designed to increase market share in high‑density areas and to leverage Ascend’s vertical integration for cost efficiency.
In Q3 2025, Ascend reported net revenue of $124.7 million, a slight sequential decline from $128.2 million in Q2 2025, but an adjusted EBITDA of $31.1 million, a 24.9% margin that improved from 23.8% in the prior quarter. The company posted a net loss of $25.8 million, driven by higher operating expenses and a one‑time restructuring charge. The margin expansion was largely due to a stronger vertical sales mix and higher margins on third‑party products, offsetting pricing pressure in several states.
CEO Samuel Brill highlighted that the company’s cost‑control program eliminated over $30 million in annual expenses ahead of schedule, supporting the margin gains. Brill also noted that revenue decline was caused by pricing pressures and increased discounting in competitive markets, particularly in Ohio, the company’s strongest retail market. Management remains confident that the densification strategy and cost discipline will sustain profitability, and the company has maintained its guidance for adjusted EBITDA margin growth.
Investors reacted positively to the margin expansion and cost‑control achievements, even as the company reported a net loss. The market’s favorable response reflects confidence in Ascend’s ability to navigate competitive pricing pressures while executing its expansion plan.
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