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Cannabis Earnings Season Wraps With Sam Brill, CEO of Ascend

By Shadd Dales On Aug 26, 2026

In our latest Trade to Black, presented by Flowhub, hosts Shadd Dales and Anthony Varrell cap off Q2 2026 earnings season with Sam Brill, CEO of Ascend Wellness (OTCQX: AAWH), then turn to the latest on rescheduling with Michael Bronstein in the weekly Insiders Edge segment.

In segment one, we sit down with Sam Brill following a strong quarter for Ascend. Net revenue came in at $126.1 million, up 7.9% sequentially and well ahead of management’s 2–3% growth target, with retail revenue jumping 11.5% to $92.7 million. Adjusted EBITDA rose to $29.1 million, a 23.1% margin, while net loss narrowed sharply to $9.8 million from $29.5 million the prior quarter. Brill walks us through the inflection point behind the beat: roughly $37 million in costs taken out of the business over two years, and a densification strategy that grew the footprint to 55 stores and picked up about 5% combined market share across the company’s seven states despite an overall market contraction. He also showcases the Ozone rebrand, the Highwired infused line, and a redesigned loyalty program, and confirms Ascend has filed a definitive proxy for a reverse stock split ahead of a planned uplisting to a major U.S. exchange.

In segment two, Michael Bronstein, President of ATACH, joins for his weekly Insiders Edge segment. The full 2,533-page DEA hearing transcript is now public, revealing DEA attorneys arguing marijuana “can no longer remain in Schedule I” while systematically attacking the credibility of nearly every opposition witness in their final brief — including allegations that two witnesses violated sequestration rules by reading earlier testimony. Notably, the DEA’s own pharmacologist was barely touched by their own brief, despite being cited 25 times by opponents. We also break down an email that circulated last week from Brett Worley, CEO of MC Nutraceuticals, claiming hemp protection is written into the Senate’s base bill text through December 11, and why the real legal test hinges on whether a cannabinoid is “capable of being naturally produced” by the plant, not “naturally derived.”

There’s plenty more where that came from — tune in.

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Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.