Ascend Wellness (AAWH) 10-Q 13 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 11, 2021
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	333-254800
Entity Registrant Name	ASCEND WELLNESS HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0602006
Entity Address, Address Line One	1411 Broadway
Entity Address, Address Line Two	16th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10018
City Area Code	646
Local Phone Number	661-7600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001756390
Current Fiscal Year End Date	--12-31
Class A common stock
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		170,648,127
Class B common stock
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		65,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 104,212	$ 56,547
Restricted cash	0	1,550
Accounts receivable, net	4,867	6,227
Inventory	47,099	28,997
Notes receivable	6,745	8,259
Other current assets	26,475	32,598
Total current assets	189,398	134,178
Property and equipment, net	182,486	120,540
Operating lease right-of-use assets	101,731	84,642
Intangible assets, net	52,513	50,461
Goodwill	27,341	22,798
Deferred tax assets	3,451	2,395
Other noncurrent assets	21,843	12,734
TOTAL ASSETS	578,763	427,748
Current liabilities
Accounts payable and accrued liabilities	47,212	31,224
Current portion of debt, net	24,056	59,330
Operating lease liabilities, current	2,206	2,128
Income taxes payable	31,006	18,275
Other current liabilities	5,744	4,328
Current liabilities	110,224	115,285
Long-term debt, net	104,730	152,277
Operating lease liabilities, noncurrent	174,489	156,400
Total liabilities	389,443	423,962
Commitments and contingencies (Note 15)
Stockholders' Equity
Membership units, no par value; none authorized, issued, and outstanding as of June 30, 2021; 106,082 issued and outstanding as of December 31, 2020 (Note 12)	0	0
Preferred stock, $0.001 par value per share; 10,000 shares authorized, none issued and outstanding as of June 30, 2021; none authorized, issued, and outstanding as of December 31, 2020 (Note 12)	0	0
Additional paid-in capital	345,864	67,378
Accumulated deficit	(156,712)	(63,592)
Total stockholders' equity	189,320	3,786
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	578,763	427,748
Class A common stock
Stockholders' Equity
Class A and Class B common stock	168	0
Class B common stock
Stockholders' Equity
Class A and Class B common stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Common units authorized (in shares)	0
Common units issued (in shares)	0	106,082,000
Common units outstanding (in shares)	0	106,082,000
Preferred stock, par value (in dollars per share)	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	0
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A common stock
Common stock, par value (in dollars per share)	$ 0.001
Common stock, shares authorized (in shares)	750,000,000	0
Common stock shares issued (in shares)	168,764,000	0
Common stock, shares outstanding (in shares)	168,764,000	0
Class B common stock
Common stock, par value (in dollars per share)	$ 0.001
Common stock, shares authorized (in shares)	100,000	0
Common stock shares issued (in shares)	65,000	0
Common stock, shares outstanding (in shares)	65,000	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue, net	$ 83,367	$ 25,384	$ 149,504	$ 47,976
Cost of goods sold	(48,851)	(13,206)	(85,321)	(28,306)
Gross profit	34,516	12,178	64,183	19,670
Operating expenses
General and administrative expenses	30,612	9,975	55,758	19,624
Settlement expense	0	0	36,511	0
Total operating expenses	30,612	9,975	92,269	19,624
Operating profit (loss)	3,904	2,203	(28,086)	46
Other (expense) income
Interest expense	(36,888)	(2,873)	(44,225)	(5,403)
Other, net	82	(3)	162	3
Total other expense	(36,806)	(2,876)	(44,063)	(5,400)
Loss before income taxes	(32,902)	(673)	(72,149)	(5,354)
Income tax expense	(11,995)	(3,632)	(20,971)	(6,069)
Net loss	(44,897)	(4,305)	(93,120)	(11,423)
Less: net income attributable to non-controlling interests	0	737	0	1,097
Net loss attributable to Ascend Wellness Holdings, Inc.	$ (44,897)	$ (5,042)	$ (93,120)	$ (12,520)
Net loss per share attributable to Class A and Class B stockholders of Ascend Wellness Holdings, Inc. — basic (in dollars per share)	$ (0.30)	$ (0.06)	$ (0.73)	$ (0.14)
Net loss per share attributable to Class A and Class B stockholders of Ascend Wellness Holdings, Inc. — diluted (in dollars per share)	$ (0.30)	$ (0.06)	$ (0.73)	$ (0.14)
Weighted-average common shares outstanding — basic (in shares)	150,341	89,821	128,392	89,821
Weighted-average common shares outstanding —diluted (in shares)	150,341	89,821	128,392	89,821

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Historical common units	Historical preferred units	Stockholders’ Equity	Historical LLC Units	Historical LLC UnitsHistorical common units	Historical LLC UnitsHistorical preferred units	Class A and Class B Common Stock	Class A and Class B Common StockHistorical common units	Class A and Class B Common StockHistorical preferred units	Additional Paid-In Capital	Additional Paid-In CapitalHistorical common units	Additional Paid-In CapitalHistorical preferred units	Accumulated Deficit	Non- Controlling Interests
Historical LLC units, beginning balance (in shares) at Dec. 31, 2019					89,821,000
Beginning balance at Dec. 31, 2019	$ 34,840			$ 33,794							$ 71,947			$ (38,153)	$ 1,046
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation expense	185			185							185
Issuance of warrants	147			147							147
Net income (loss)	(7,118)			(7,478)										(7,478)	360
Historical LLC units, ending balance (in shares) at Mar. 31, 2020					89,821,000
Ending balance at Mar. 31, 2020	28,054			26,648							72,279			(45,631)	1,406
Historical LLC units, beginning balance (in shares) at Dec. 31, 2019					89,821,000
Beginning balance at Dec. 31, 2019	34,840			33,794							71,947			(38,153)	1,046
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,423)
Historical LLC units, ending balance (in shares) at Jun. 30, 2020					89,821,000
Ending balance at Jun. 30, 2020	23,850			21,707							72,380			(50,673)	2,143
Historical LLC units, beginning balance (in shares) at Mar. 31, 2020					89,821,000
Beginning balance at Mar. 31, 2020	28,054			26,648							72,279			(45,631)	1,406
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation expense	85			85							85
Issuance of warrants	16			16							16
Net income (loss)	(4,305)			(5,042)										(5,042)	737
Historical LLC units, ending balance (in shares) at Jun. 30, 2020					89,821,000
Ending balance at Jun. 30, 2020	$ 23,850			21,707							72,380			(50,673)	2,143
Historical LLC units, beginning balance (in shares) at Dec. 31, 2020	106,082,000				106,082,000
Beginning balance (in shares) at Dec. 31, 2020								0
Beginning balance at Dec. 31, 2020	$ 3,786			3,786				$ 0			67,378			(63,592)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted common units (in shares)					1,033,000
Equity-based compensation expense (in shares)					50,000
Equity-based compensation expense	2,487			2,487							2,487
Reserve for equity issued in litigation settlement	27,431			27,431							27,431
Net income (loss)	$ (48,223)			(48,223)										(48,223)
Historical LLC units, ending balance (in shares) at Mar. 31, 2021	107,165,000				107,165,000
Ending balance (in shares) at Mar. 31, 2021								0
Ending balance at Mar. 31, 2021	$ (14,519)			(14,519)				$ 0			97,296			(111,815)	0
Historical LLC units, beginning balance (in shares) at Dec. 31, 2020	106,082,000				106,082,000
Beginning balance (in shares) at Dec. 31, 2020								0
Beginning balance at Dec. 31, 2020	$ 3,786			3,786				$ 0			67,378			(63,592)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (93,120)
Historical LLC units, ending balance (in shares) at Jun. 30, 2021	0				0
Ending balance (in shares) at Jun. 30, 2021	168,829,000							168,829,000
Ending balance at Jun. 30, 2021	$ 189,320			189,320				$ 168			345,864			(156,712)	0
Historical LLC units, beginning balance (in shares) at Mar. 31, 2021	107,165,000				107,165,000
Beginning balance (in shares) at Mar. 31, 2021								0
Beginning balance at Mar. 31, 2021	$ (14,519)			(14,519)				$ 0			97,296			(111,815)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of reserve for equity issued in litigation settlement	(27,431)			(27,431)							(27,431)
Equity issued in litigation settlement (in shares)					5,025,000
Equity issued in litigation settlement	27,431			27,431							27,431
Conversion of historical common and preferred units (in shares)						(55,330,000)	(58,036,000)		55,330,000	58,036,000
Conversion of historical common and preferred units		$ 0	$ 0						$ 55	$ 58		$ (55)	$ (58)
Issuance of common stock in public offerings, net of underwriting commissions and discounts and offering costs (in shares)								11,500,000
Issuance of common stock in public offerings, net of underwriting commissions and discounts and offering costs	86,065			86,065				$ 12			86,053
Conversion of convertible notes upon initial public offering (in shares)								37,388,000
Conversion of preferred units into Class A common stock upon initial public offering	137,755			137,755				$ 37			137,718
Beneficial conversion feature associated with conversion of preferred units upon initial public offering (in shares)								3,420,000
Beneficial conversion feature associated with conversion of preferred units upon initial public offering	27,361			27,361				$ 3			27,358
Vesting of restricted common units (in shares)					1,176,000			3,155,000
Vesting of restricted common units	0							$ 3			(3)
Equity-based compensation expense	1,711			1,711							1,711
Repurchase of warrants	(4,156)			(4,156)							(4,156)
Net income (loss)	$ (44,897)			(44,897)										(44,897)
Historical LLC units, ending balance (in shares) at Jun. 30, 2021	0				0
Ending balance (in shares) at Jun. 30, 2021	168,829,000							168,829,000
Ending balance at Jun. 30, 2021	$ 189,320			$ 189,320				$ 168			$ 345,864			$ (156,712)	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income (loss)	$ (93,120)	$ (11,423)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	11,911	6,248
Amortization of operating lease assets	612	360
Non-cash interest expense	35,898	1,662
Share-based compensation expense	4,198	270
Equity issued in litigation settlement	27,431	0
Deferred income taxes	(1,056)	(473)
Loss on sale of assets	0	286
Changes in operating assets and liabilities, net of effects of acquisitions
Accounts receivable	1,401	(3,007)
Inventory	(19,992)	(2,978)
Other current assets	(4,084)	767
Other noncurrent assets	(9,110)	(2,822)
Accounts payable and accrued liabilities	19,245	1,069
Other current liabilities	1,415	1,936
Lease liabilities	464	1,122
Income taxes payable	12,732	6,545
Net cash used in operating activities	(12,055)	(438)
Cash flows from investing activities
Additions to capital assets	(56,046)	(13,696)
Investments in notes receivable	(1,656)	(585)
Collection of notes receivable	164	0
Proceeds from sale of assets	0	26,750
Purchase of businesses, net of cash acquired	(13,630)	0
Net cash (used in) provided by investing activities	(71,168)	12,469
Cash flows from financing activities
Proceeds from issuance of common stock in public offerings, net of underwriting discounts and commissions and offering expenses	86,065	0
Proceeds from issuance of debt	49,500	12,833
Repayments of debt	(2,071)	(15,317)
Repurchase of warrants	(4,156)	0
Proceeds from finance leases	0	3,750
Repayments under finance leases	0	(206)
Net cash provided by financing activities	129,338	1,060
Net increase in cash, cash equivalents, and restricted cash	46,115	13,091
Cash, cash equivalents, and restricted cash at beginning of period	58,097	12,805
Cash, cash equivalents, and restricted cash at end of period	104,212	25,896
Supplemental Cash Flow Information
Interest paid	6,103	3,746
Income taxes paid	9,311	0
Non-cash investing and financing activities
Fixed asset purchases	13,734	8,914
Conversion of convertible notes and accrued interest upon initial public offering	137,755	0
Conversion of preferred units into Class A common stock upon initial public offering	70,660	0
Beneficial conversion feature associated with conversion of preferred units upon initial public offering	27,361	0
Direct issuance costs incurred but not yet paid	$ 156	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ (DEFICIT) EQUITY (Parenthetical) $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)
Statement of Stockholders' Equity [Abstract]
Underwriting discounts	$ 5,935

THE COMPANY AND NATURE OF OPERA

THE COMPANY AND NATURE OF OPERATIONS	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND NATURE OF OPERATIONS	THE COMPANY AND NATURE OF OPERATIONS Ascend Wellness Holdings, Inc., which operates through its subsidiaries (collectively referred to as “Ascend Wellness,” “AWH,” “we,” “us,” “our,” or the “Company”), is a multi-state operator in the United States cannabis industry. AWH owns, manages, and operates cannabis cultivation facilities and dispensaries in several states across the United States, including Illinois, Massachusetts, Michigan, New Jersey, and Ohio. AWH is headquartered in New York, New York. The Company was originally formed on May 15, 2018 as Ascend Group Partners, LLC, and changed its name to “Ascend Wellness Holdings, LLC” on September 10, 2018. On April 22, 2021, Ascend Wellness Holdings, LLC converted into a Delaware corporation and changed its name to “Ascend Wellness Holdings, Inc.” and effected a 2-for-1 reverse stock split (the “Reverse Split”), which is retrospectively presented for all periods in these financial statements. We refer to this conversion throughout this filing as the “Conversion.” As a result of the Conversion, the members of Ascend Wellness Holdings, LLC became holders of shares of stock of Ascend Wellness Holdings, Inc. Following the Conversion, the Company has authorized 750,000 shares of Class A common stock with a par value of $0.001 per share, 100 shares of Class B common stock with a par value of $0.001 per share and 10,000 shares of preferred stock with a par value of $0.001 per share. The rights of the holders of Class A common stock and Class B common stock are identical, except for voting and conversion rights. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to 1,000 votes per share and is convertible at any time into one share of Class A common stock at the option of the holder. See Note 12, “Equity,” for additional details. Initial Public Offering On May 4, 2021, the Company completed an Initial Public Offering (“IPO”) of its Class A common stock, in which it issued and sold 10,000 shares of Class A common stock at a price of $8.00 per share. On May 7, 2021, the underwriters exercised their over-allotment option in full and we issued and sold an additional 1,500 shares of Class A common stock. We received total net proceeds of approximately $86,065 after deducting underwriting discounts and commissions and certain other direct offering expenses paid by us. In connection with the IPO, the historical common units, Series Seed Preferred Units, Series Seed+ Preferred Units, and Real Estate Preferred Units then-outstanding automatically converted into a total of 113,301 shares of Class A common stock and 65 historical common units were allocated as shares of Class B common stock. Additionally, 3,420 shares of Class A common stock were issued for a beneficial conversion feature associated with the conversion of certain historical preferred units and the Company’s convertible notes, plus accrued interest, converted into 37,388 shares of Class A common stock. See Note 12, “Equity,” for additional details.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with (i) United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of our management, our unaudited condensed consolidated financial statements and accompanying notes (the “Financial Statements”) include all normal recurring adjustments that are necessary for the fair statement of the interim periods presented. Interim results of operations are not necessarily indicative of results for the full year, or any other period. The Financial Statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) for the year ended December 31, 2020 (“Annual Financial Statements”) which are included in our Registration Statement on Form S-1, as amended, filed with the U.S. Securities and Exchange Commission on April 26, 2021. The Financial Statements include the accounts of Ascend Wellness Holdings, Inc. and its subsidiaries. Refer to Note 8, “Variable Interest Entities,” for additional information regarding certain entities that are not wholly-owned by the Company. We include the results of acquired businesses in the consolidated statements of operations from their respective acquisition dates. All intercompany accounts and transactions have been eliminated in consolidation. The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts. We base our estimates on historical experience, known or expected trends, independent valuations, and various other measurements that we believe to be reasonable under the circumstances. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. We round amounts in the Financial Statements to thousands, except per unit or per share amounts or as otherwise stated. We calculate all percentages, per-unit, and per-share data from the underlying whole-dollar amounts. Thus, certain amounts may not foot, crossfoot, or recalculate based on reported numbers due to rounding. Unless otherwise indicated, all references to years are to our fiscal year, which ends on December 31. Liquidity As reflected in the Financial Statements, the Company had an accumulated deficit as of June 30, 2021 and December 31, 2020, as well as a net loss for the three and six months ended June 30, 2021 and 2020, and negative cash flows from operating activities during the six months ended June 30, 2021 and 2020, which are indicators that raise substantial doubt of our ability to continue as a going concern. Management believes that substantial doubt of our ability to continue as a going concern for at least one year from the issuance of these Financial Statements has been alleviated due to: (i) cash on hand, including capital raised from the Company’s IPO in May 2021, and (ii) continued growth of sales and gross profit from our consolidated operations. Management plans to continue to access capital markets for additional funding through debt and/or equity financings to supplement future cash needs, as may be required. However, management cannot provide any assurances that the Company will be successful in accomplishing its business plans. If the Company is unable to raise additional capital whenever necessary, it may be forced to decelerate or curtail certain of its operations until such time as additional capital becomes available. Reclassifications Certain prior year amounts have been reclassified to conform with our current period presentation. These changes had no impact on our previously reported net loss. Variable Interest Entities In determining whether we are the primary beneficiary of a variable interest entity (“VIE”), we assess whether we have the power to direct matters that most significantly impact the activities of the VIE and the obligation to absorb losses or the right to receive the benefits from the VIE that could potentially be significant to the VIE. A VIE is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured that such equity investors lack the ability to make significant decisions relating to the entity’s operations through voting rights or do not substantively participate in the gains or losses of the entity. The primary beneficiary has both the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. We assess all variable interests in the entity and use our judgment when determining if we are the primary beneficiary. Other qualitative factors that are considered include decision-making responsibilities, the VIE capital structure, risk and rewards sharing, contractual agreements with the VIE, voting rights, and level of involvement of other parties. We assess the primary beneficiary determination for a VIE on an ongoing basis if there are any changes in the facts and circumstances related to a VIE. Where we determine we are the primary beneficiary of a VIE, we consolidate the accounts of that VIE. The equity owned by other shareholders is shown as non-controlling interests in the accompanying unaudited Condensed Consolidated Balance Sheets, Statements of Operations, and Statements of Changes in Stockholders’ Equity. The assets of the VIE can only be used to settle obligations of that entity, and any creditors of that entity generally have no recourse to the assets of other entities or the Company unless the Company separately agrees to be subject to such claims. Cash and Cash Equivalents and Restricted Cash As of June 30, 2021 and December 31, 2020, we did not hold significant cash equivalents. The following table provides a reconciliation of cash, cash equivalents, and restricted cash to amounts shown in the unaudited Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2021 December 31, 2020 Cash and cash equivalents $ 104,212 $ 56,547 Restricted cash — 1,550 Total cash, cash equivalents, and restricted cash $ 104,212 $ 58,097 Fair Value of Financial Instruments During the six months ended June 30, 2021 and 2020, we had no transfers of assets or liabilities between any of the hierarchy levels. In addition to assets and liabilities that are measured at fair value on a recurring basis, we are also required to measure certain assets at fair value on a non-recurring basis that are subject to fair value adjustments in specific circumstances. These assets can include: goodwill; intangible assets; property and equipment; and lease related right-of use assets. We estimate the fair value of these assets using primarily unobservable Level 3 inputs. Basic and Diluted Loss per Share The Company computes earnings (loss) per share (“EPS”) using the two-class method required for multiple classes of common stock. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, except for voting and conversion rights. As the liquidation and dividend rights are identical, undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both and individual and combined basis. EPS and weighted-average shares outstanding for the three and six months ended June 30, 2021 and 2020 have been computed on the basis of treating the historical common unit equivalents previously outstanding as shares of Class A common stock, as such historical units converted into shares of Class A common stock in the Conversion. Basic EPS is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted EPS reflects potential dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if all potential common shares had been issued and were dilutive. However, potentially dilutive securities are excluded from the computation of diluted EPS to the extent that their effect is anti-dilutive. Potential dilutive securities in the current year include incremental shares of common stock issuable upon the exercise of warrants and unvested restricted stock awards. Potential dilutive securities in the prior year periods include incremental shares of common stock issuable upon the exercise of warrants, vested incentive units, and the conversion of convertible notes. As of June 30, 2021 and 2020, 5,400 and 17,794 shares of common stock equivalents, respectively, were excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive. Shares of restricted stock granted by us are considered to be legally issued and outstanding as of the date of grant, notwithstanding that the shares remain subject to the risk of forfeiture if the vesting conditions for such shares are not met, and are included in the number of shares of Class A common stock outstanding disclosed on the cover page of this Quarterly Report on Form 10-Q. Weighted-average common shares outstanding excludes time-based and performance-based unvested shares of restricted Class A common stock, as restricted shares are treated as issued and outstanding for financial statement presentation purposes only after such shares have vested and, therefore, have ceased to be subject to a risk of forfeiture. Recently Adopted Accounting Standards Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes , (“ASU 2019-12”) which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 became effective for on beginning January 1, 2021 and did not have a significant impact on our consolidated financial statements. Investments In January 2020, the FASB issued ASU 2020-01, Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. This ASU provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities and became effective for the Company beginning on January 1, 2021. Adoption of this guidance did not have a material impact on our consolidated financial statements. Recently Issued Accounting Pronouncements The following standards have been recently issued by the FASB. Pronouncements that are not applicable to the Company or where it has been determined do not have a significant impact on us have been excluded herein. Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , (“ASU 2016-13”). ASU 2016-13 replaces the existing guidance surrounding measurement and recognition of credit losses on financial assets measured at amortized cost, including trade receivables and investments in certain debt securities, by requiring recognition of an allowance for credit losses expected to be incurred over an asset’s life based on relevant information about past events, current conditions, and supportable forecasts impacting its ultimate collectability. This current expected credit losses (“CECL”) model will result in earlier recognition of credit losses than the current “as incurred” model, under which losses are recognized only upon the occurrence of an event that gives rise to the incurrence of a probable loss. ASU 2019-05, Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief , was issued in May 2019 to provide target transition relief allowing entities to make an irrevocable one-time election upon adoption of the new credit losses standard to measure financial assets previously measured at amortized cost (except held-to-maturity securities) using the fair value option. ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses , was issued in November 2019 to clarify, improve, and amend certain aspects of ASU 2016-13, such as disclosures related to accrued interest receivables and the estimation of credit losses associated with financial assets secured by collateral. ASU 2020-03, Codification Improvements to Financial Instruments , was issued in March 2020 to improve and clarify various financial instruments topics, including the CECL standard issued in 2016. The ASU includes seven different issues that describe the areas of improvement and the related amendments to U.S. GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. Certain amendments contained within this update were effective upon issuance and had no material impact on our consolidated financial statements. The amendments related to ASU 2019-04 and ASU 2016-13 will be adopted in conjunction with ASU 2016-13. ASU 2016-13 and its related ASUs are effective for us beginning January 1, 2023. We are currently evaluating the impact of this guidance on our consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This new guidance can be adopted prospectively no later than December 1, 2022, with early adoption permitted, and is not expected to have a material impact on our consolidated financial statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope , (“ASU 2021-01”), which clarifies certain optional expedients and exceptions in Topic 848 when accounting for derivative contracts and certain hedging relationships affected by changes in interest rates. ASU 2021-01 was effective upon issuance and the amendments within are applied either prospectively or retrospectively. ASU 2021-01 did not have a significant impact on our consolidated financial statements. Debt In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. This guidance will be effective for us January 1, 2022 on a full modified or modified retrospective basis, with early adoption permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. Modification or Exchanges of Freestanding Equity-Classified Written Call Options In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensation – Stock Compensation (Topic 718), and Derivatives and Hedging – Contracts in an Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting For Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options,

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
REPORTABLE SEGMENTS AND REVENUE	REPORTABLE SEGMENTS AND REVENUE The Company operates under one operating segment, which is its only reportable segment: the production and sale of cannabis products. The Company prepares its segment reporting on the same basis that its Chief Operating Decision Maker manages the business and makes operating decisions. The Company’s measure of segment performance is net income and derives its revenue primarily from the sale of cannabis products. All of the Company’s operations are located in the United States. Disaggregation of Revenue The Company disaggregates its revenue from the direct sale of cannabis to customers as retail revenue and wholesale revenue. We have determined that disaggregating revenue into these categories best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Retail revenue $ 58,038 $ 19,132 $ 103,559 $ 37,986 Wholesale revenue 39,473 9,869 69,815 17,900 97,511 29,001 173,374 55,886 Elimination of inter-company revenue (14,144) (3,617) (23,870) (7,910) Total revenue, net $ 83,367 $ 25,384 $ 149,504 $ 47,976 Sales discounts were not material during the three and six months ended June 30, 2021 and 2020. The liability related to the loyalty program we offer dispensary customers at certain locations was $686 and $219 at June 30, 2021 or December 31, 2020, respectively, and is included in “Other current liabilities” on the accompanying unaudited condensed consolidated balance sheets.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS The Company has determined that the acquisitions discussed below are considered business combinations under ASC Topic 805, Business Combinations , (“ASC Topic 805”) and are accounted for by applying the acquisition method, whereby the assets acquired and the liabilities assumed are recorded at their fair values with any excess of the aggregate consideration over the fair values of the identifiable net assets allocated to goodwill. Operating results have been included in these Financial Statements from the date of the acquisition. The Company allocates the purchase price of each of its acquisitions to the assets acquired and liabilities assumed at fair value. The preliminary purchase price allocation for each acquisition reflects various preliminary fair value estimates and analyses, including certain tangible assets acquired and liabilities assumed, the valuation of intangible assets acquired, and goodwill, which are subject to change within the measurement period as preliminary valuations are finalized (generally one year from the acquisition date). Measurement period adjustments are recorded in the reporting period in which the estimates are finalized and adjustment amounts are determined. 2021 Acquisition Effective May 5, 2021, the Company completed the acquisition of the parent company of Hemma, LLC (“Hemma”), the owner of a medical cultivation site in Ohio, for total consideration of $10,381, subject to customary working capital adjustments. Acquisition-related costs incurred during the three and six months ended June 30, 2021 were not material. Preliminary Purchase Price Allocation The Company allocated the purchase price of the Hemma acquisition as summarized in the table below. The purchase price allocation reflects various preliminary fair value estimates and analyses, including certain tangible assets acquired and liabilities assumed, the valuation of intangible assets acquired, and goodwill, which are subject to change within the measurement period as preliminary valuations are finalized. (in thousands) Assets acquired (liabilities assumed): Cash $ 44 Accounts receivable 41 Inventory 188 Property and equipment 153 Intangible assets (1) 6,928 Goodwill (2) 3,039 Accounts payable and accrued liabilities (12) Net assets acquired $ 10,381 Consideration transferred: Cash (3) $ 7,212 Settlement of note and working capital loan (4) 3,169 Total consideration $ 10,381 (1) The amortization period for the acquired intangible assets is 10 years. (2) Goodwill is largely attributable to the value we expect to obtain from long-term business growth and buyer-specific synergies. The goodwill is not deductible for tax purposes due to the limitations imposed under Internal Revenue Code (“IRC”) Section 280E. See Note 14, “Income Taxes,” for additional information. (3) Total cash consideration includes a $4,712 sellers’ note. See Note 11, “Debt,” for additional information. (4) Includes settlement of $2,500 due under a note receivable and settlement of $669 due under a working capital line of credit. 2020 Acquisitions Effective August 1, 2020, the Company acquired MOCA LLC (“MOCA”), a dispensary operator in the Chicago, Illinois area, which was consolidated as a VIE from the signing date until the final closing date in December 2020. Effective September 29, 2020, the Company’s subsidiary, Ascend New Jersey, acquired the assets and liabilities of Greenleaf Compassion Center (“GCC”), a vertically integrated operator in New Jersey with licenses for three retail locations and one cultivation and manufacturing facility. Additionally, effective December 15, 2020, the Company acquired Chicago Alternative Health Center, LLC and Chicago Alternative Health Center Holdings, LLC (together, “Midway”), a medical and adult use dispensary operator in the Chicago, Illinois area. Midway is consolidated as a VIE from the signing date through the final closing date, which is pending the state’s approval of the license transfer. During the six months ended June 30, 2021, we recorded measurement period purchase accounting adjustments based on changes to certain estimates and assumptions and their related impact to goodwill. The MOCA license was revised from $10,661 to $9,755; the GCC license was revised from $11,845 to $11,501; the Midway license was revised from $15,108 to $14,684; and the Midway trade name was revised from $10 to $180. Pro Forma and Financial Information The following tables summarize the revenue and net income related to MOCA, GCC, Midway, and Hemma included in our consolidated results for the three and six months ended June 30, 2021. Three Months Ended June 30, 2021 (in thousands) MOCA GCC Midway Hemma Revenue, net $ 11,088 $ 2,651 $ 5,316 $ — Net income (loss) 1,188 (1,431) (623) (101) Six Months Ended June 30, 2021 (in thousands) MOCA GCC Midway Hemma Revenue, net $ 20,994 $ 5,057 $ 8,579 $ — Net income (loss) 1,899 (942) (905) (101) The tables below summarize the unaudited pro forma combined revenue and net income (loss) of AWH, MOCA, GCC, and Midway for the three and six months ended June 30, 2020 as if the respective acquisitions had occurred on January 1, 2019. These results do not reflect the cost of integration activities or benefits from expected revenue enhancements and synergies. Accordingly, the unaudited pro forma information is not necessarily indicative of the results that would have been achieved if the acquisitions had been effective on January 1, 2019. Pro forma financial information is not presented for Hemma, as such results are immaterial to both the current and prior periods. Three Months Ended June 30, 2020 (in thousands) AWH MOCA GCC Midway Pro Forma Adjustments (1) Pro Forma Revenue, net $ 25,384 $ 3,357 $ 996 $ 2,418 $ — $ 32,155 Net income (loss) (4,305) 961 177 471 (3,371) (6,067) (1). These adjustments include estimated additional amortization expense of $899 on intangible assets acquired as part of the acquisitions as follows: $244 related to MOCA, $288 related to GCC, and $367 related to Midway. These adjustments also include additional estimated interest expense of $2,534 and an adjustment to exclude $62 of acquisition-related costs incurred during the three months ended June 30, 2020, which are included in “General and administrative expenses” in the accompanying unaudited Condensed Consolidated Statements of Operations. These adjustments are not tax-effected, as the related expenses are not deductible for tax purposes due to the limitations imposed on marijuana dispensaries under IRC Section 280E. Six Months Ended June 30, 2020 (in thousands) AWH MOCA GCC Midway Pro Forma Adjustments (1) Pro Forma Revenue, net $ 47,976 $ 7,035 $ 2,011 $ 4,641 $ — $ 61,663 Net income (loss) (11,423) 2,021 515 907 (6,794) (14,774) (1). These adjustments include estimated additional amortization expense of $1,797 on intangible assets acquired as part of the acquisitions as follows: $488 related to MOCA, $575 related to GCC, and $734 related to Midway. These adjustments also include additional estimated interest expense of $5,069 and an adjustment to exclude $72 of acquisition-related costs incurred during the six months ended June 30, 2020, which are included in “General and administrative expenses” in the accompanying unaudited Condensed Consolidated Statements of Operations. These adjustments are not tax-effected, as the related expenses are not deductible for tax purposes due to the limitations imposed on marijuana dispensaries under IRC Section 280E.

INVENTORY

INVENTORY	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY The components of inventory are as follows: (in thousands) June 30, 2021 December 31, 2020 Materials and supplies $ 19,126 $ 7,756 Work in process 16,788 13,615 Finished goods 11,185 7,626 Total $ 47,099 $ 28,997

NOTES RECEIVABLE

NOTES RECEIVABLE	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
NOTES RECEIVABLE	NOTES RECEIVABLE In February 2021, in conjunction with an investment agreement, the Company entered into a working capital advance agreement with MedMen NY, Inc. (“MMNY”), an unrelated third party, under which $1,172 is outstanding as of June 30, 2021. The working capital advance agreement allows for initial maximum borrowings of up to $10,000, which may be increased to $17,500, and was issued to provide MMNY with additional funding for operations in conjunction with an investment agreement the parties entered into (see Note 15, “Commitments and Contingencies” for additional information on the investment agreement). Borrowings do not bear interest, but may be subject to a financing fee. The outstanding balance is due and payable at the earlier of the initial closing of the investment agreement or, if the investment agreement is terminated, three As discussed in Note 4, “Acquisitions,” the Company settled a total of $3,169 due under the Hemma note receivable and working capital loan agreement as part of consideration upon the closing of the acquisition. Additionally, a total of $4,413 is outstanding at June 30, 2021 related to a promissory note issued to the owner of a property the Company is renting, of which $153 and $4,260 is included in “Other current assets” and “Other noncurrent assets,” respectively, on the unaudited Condensed Consolidated Balance Sheet. At December 31, 2020, $4,473 was outstanding, of which $151 and $4,322 is included in “Other current assets” and “Other noncurrent assets,” respectively, on the unaudited Condensed Consolidated Balance Sheet. The Company has not identified any collectability concerns as of June 30, 2021 for the amounts due under notes receivable. No impairment losses on notes receivable were recognized during the six months ended June 30, 2021 or 2020.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment and related depreciation consist of the following: (in thousands) June 30, 2021 December 31, 2020 Leasehold improvements $ 80,401 $ 33,931 Buildings 42,486 38,561 Furniture, fixtures, and equipment 38,614 28,554 Construction in progress 32,983 25,139 Land 1,002 894 Property and equipment, gross 195,486 127,079 Less: accumulated depreciation 13,000 6,539 Property and equipment, net $ 182,486 $ 120,540

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The following tables present the summarized financial information about the Company’s consolidated VIEs which are included in the unaudited Condensed Consolidated Balance Sheets as of June 30, 2021 and December 31, 2020 and unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2021 and 2020. These entities were determined to be VIEs since the Company possesses the power to direct the significant activities of the VIEs and has the obligation to absorb losses or the right to receive benefits from the VIE. June 30, 2021 December 31, 2020 (in thousands) Ascend Illinois Ascend Illinois Ascend Michigan Current assets $ 70,278 $ 54,787 $ 11,355 Other noncurrent assets 162,954 151,449 58,516 Current liabilities 71,757 62,508 5,553 Noncurrent liabilities 127,944 134,792 37,809 Equity (deficit) attributable to AWH 16,398 9,322 (23,822) Three Months Ended June 30, 2021 Three Months Ended (in thousands) Ascend Illinois Ascend Illinois Ascend Michigan (2) Revenue, net $ 68,083 $ 21,912 $ 1,703 Net income attributable to non-controlling interests (1) — 737 — Net income (loss) attributable to AWH 9,329 2,949 (3,514) Net income (loss) $ 9,329 $ 3,686 $ (3,514) Six Months Ended Six Months Ended (in thousands) Ascend Illinois Ascend Illinois Ascend Michigan (2) Revenue, net $ 122,821 $ 42,969 $ 3,238 Net income attributable to non-controlling interests (1) — 1,097 — Net income (loss) attributable to AWH 16,423 4,387 (8,094) Net income (loss) $ 16,423 $ 5,484 $ (8,094) (1) Effective July 30, 2020, the Company purchased the non-controlling interests of Ascend Illinois; therefore, there are no non-controlling interests as of and for the three and six months ended June 30, 2021. (2) In December 2020, the sole member of FPAW Michigan 2, Inc. (“Ascend Michigan”) assigned his interests to AWH, thereby making AWH the majority member, retaining 99.9% of the membership interests in Ascend Michigan. Following this assignment, Ascend Michigan is no longer considered a VIE.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Intangible Assets (in thousands) June 30, 2021 December 31, 2020 Finite-lived intangible assets Licenses and permits (1) $ 45,142 $ 39,888 In-place leases 19,963 19,963 Trade names (1) 380 210 65,485 60,061 Accumulated amortization: Licenses and permits (3,132) (1,080) In-place leases (9,460) (8,362) Trade names (380) (158) (12,972) (9,600) Total intangible assets, net $ 52,513 $ 50,461 (1) During the six months ended June 30, 2021, we recorded measurement period purchase accounting adjustments related to our 2020 acquisitions based on changes to certain estimates and assumptions and their related impact to goodwill. Additionally, during the three months ended June 30, 2021 we recorded $6,928 related to the Hemma acquisition. See Note 4, “Acquisitions,” for additional information. Amortization expense was $1,687 and $1,866 during the three months ended June 30, 2021 and 2020, respectively, and $3,372 and $3,745 during the six months ended June 30, 2021 and 2020, respectively. Total amortization expense capitalized to inventory was $348 and $4 during three months ended June 30, 2021 and 2020, respectively, and $610 and $21 during the six months ended June 30, 2021 and 2020, respectively. At June 30, 2021 and December 31, 2020, $472 and $564, respectively, of amortization expense remained capitalized as part of inventory. No impairment indicators were noted during the six months ended June 30, 2021 or 2020 and, as such, w e did not record any impairment charges during either period. Goodwill (in thousands) Balance, December 31, 2020 $ 22,798 Acquisitions 3,039 Adjustments to purchase price allocation 1,504 Balance, June 30, 2021 $ 27,341

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	LEASESThe Company leases land, buildings, equipment, and other capital assets which it plans to use for corporate purposes and the production and sale of cannabis products. We determine if an arrangement is a lease at inception and begin recording lease activity at the commencement date, which is generally the date in which we take possession of or control the physical use of the asset. Right-of-use (“ROU”) assets and lease liabilities are recognized based on the present value of lease payments over the lease term with lease expense recognized on a straight-line basis. We use our incremental borrowing rate to determine the present value of future lease payments unless the implicit rate is readily determinable. Our incremental borrowing rate is the rate of interest we would have to pay to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. This incremental borrowing rate is applied to the minimum lease payments within each lease agreement to determine the amounts of our ROU assets and lease liabilities. Our lease terms range from 1 to 20 years. Some leases include one or more options to renew, with renewal terms that can extend the lease terms. We typically exclude options to extend the lease in a lease term unless it is reasonably certain that we will exercise the option and when doing so is at our sole discretion. The depreciable lives of assets and leasehold improvements are limited by the expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise. Typically, if we decide to cancel or terminate a lease before the end of its term, we would owe the lessor the remaining lease payments under the term of such lease. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. We may rent or sublease to third parties certain real property assets that we no longer use. Lease agreements may contain rent escalation clauses, rent holidays, or certain landlord incentives, including tenant improvement allowances. ROU assets include amounts for scheduled rent increases and are reduced by lease incentive amounts. Certain of our lease agreements include variable rent payments, consisting primarily of rental payments adjusted periodically for inflation and amounts paid to the lessor based on cost or consumption, such as maintenance and utilities. Variable rent lease components are not included in the lease liability. The components of lease assets and lease liabilities and their classification on our unaudited Condensed Consolidated Balance Sheets were as follows: (in thousands) Classification June 30, 2021 December 31, 2020 Lease assets Operating leases Operating lease right-of-use assets $ 101,731 $ 84,642 Lease liabilities Current liabilities Operating leases Operating lease liabilities, current $ 2,206 $ 2,128 Noncurrent liabilities Operating leases Operating lease liabilities, noncurrent 174,489 156,400 Total lease liabilities $ 176,695 $ 158,528 The components of lease costs and classification within the unaudited Condensed Consolidated Statements of Operations were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Operating lease costs Capitalized to inventory $ 4,620 $ 3,292 $ 9,114 $ 4,553 General and administrative expenses 1,310 1,028 2,590 1,827 Total operating lease costs $ 5,930 $ 4,320 $ 11,704 $ 6,380 At June 30, 2021 and December 31, 2020, $3,608 and $4,913, respectively, of lease costs remained capitalized in inventory. The following table presents information on short-term and variable lease costs: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Total short-term and variable lease costs $ 174 $ 578 $ 826 $ 1,184 Sublease income generated during the three and six months ended June 30, 2021 and 2020 was immaterial. The following table includes supplemental cash and non-cash information related to our leases: Six Months Ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 10,568 $ 5,038 Lease assets obtained in exchange for new operating lease liabilities $ 17,759 $ 64,757 The weighted average remaining lease term for our operating leases is 16.4 years and 17.3 years at June 30, 2021 and December 31, 2020, respectively, and the weighted average discount rate is 13.2% and 13.1% at June 30, 2021 and December 31, 2020, respectively. The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our unaudited Condensed Consolidated Balance Sheet as of June 30, 2021 are as follows: (in thousands) Operating Lease Liabilities Remainder of 2021 $ 11,589 2022 23,923 2023 24,602 2024 25,301 2025 26,032 Thereafter 343,309 Total lease payments 454,756 Less: imputed interest 278,061 Present value of lease liabilities $ 176,695 As of June 30, 2021, we have entered into operating lease arrangements which are effective for future periods. The total amount of ROU lease assets and lease liabilities related to these arrangements is approximately $1,100. Sale Leaseback Transactions The following table presents cash payments due under transactions that did not qualify for sale-leaseback treatment. The cash payments are allocated between interest and liability reduction, as applicable. The “sold” assets remain within land, buildings, and leasehold improvements, as appropriate, for the duration of the lease and a financing liability equal to the amount of proceeds received is recorded within “Long-term debt, net” on the accompanying unaudited Condensed Consolidated Balance Sheets. (in thousands) Remainder of 2021 2022 2023 2024 2025 Thereafter Total Cash payments due under financing liabilities $ 1,020 $ 2,082 $ 2,143 $ 2,206 $ 2,271 $ 9,149 $ 18,871 On June 29, 2021, a wholly owned subsidiary of the Company entered into a definitive agreement for the sale of certain real estate and related assets of a commercial property located in New Bedford, Massachusetts to a third-party for a total purchase price is $350, subject to certain adjustments. The closing is subject to certain

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT (in thousands) June 30, 2021 December 31, 2020 Capital Construction Loan $ 11,624 $ 11,624 AWH Convertible Promissory Notes (1) — 75,484 July 2019 Notes 10,000 10,000 Ann Arbor Note 4,750 5,250 October 2020 Credit Facility (2) 25,885 25,260 NJ Term Loan (3) 20,000 20,000 NJ Real Estate Loan 4,500 4,500 Sellers’ Notes (4) 37,755 45,782 Finance liabilities 17,129 17,129 Total debt $ 131,643 $ 215,029 Current portion of debt $ 25,053 $ 60,357 Less: unamortized deferred financing costs 997 1,027 Current portion of debt, net $ 24,056 $ 59,330 Long-term debt $ 106,590 $ 154,672 Less: unamortized deferred financing costs 1,860 2,395 Long-term debt, net $ 104,730 $ 152,277 (1) On April 22, 2021 the convertible note purchase agreement entered in June 2019 (the “AWH Convertible Promissory Notes”) was amended to clarify the conversion rate of the underlying notes. Prior to the amendment, the conversion feature in connection with a going public transaction specified that the holders would receive a number of shares of Class A common stock equal to the outstanding principal and accrued and unpaid interest under the notes divided by a price per share equal to the lesser of (a)(i) a 20% discount to the price per share of Class A common stock offered pursuant to an offering in the event such offering occurs on or before 12 months from the closing date; (ii) a 25% discount to the price per share of Class A common stock offered pursuant to an offering in the event such offering occurs after 12 months from the closing date, but before the maturity date; and (b) the price per security, which equals the price per share resulting from a pre-money valuation of the company of $295,900, which was determined by the Company to be $2.96. The amendment to the note purchase agreement was solely made to clarify the conversion price in connection with a going public transaction. The note purchase agreement includes provisions to the effect that the notes may be amended with the written consent of the holders of a majority of the outstanding principal amount of all such notes, and which such consent was obtained, and any amendment so approved is binding on all holders of the notes. In conjunction with the Company’s IPO on May 4, 2021, the total principal outstanding under the AWH Convertible Promissory Notes, plus accrued interest thereon, automatically converted into 28,478 shares of Class A common stock based on a conversion price of $2.96 per share in accordance with the terms of the amended agreement. Per the terms of the notes, any AWH Convertible Promissory Notes outstanding for less than twelve months received a full twelve months of interest at conversion. $1,000 of these notes were with related party entities that are managed by one of the founders of the Company. (2) In October 2020, the Company entered into a $38,000 senior secured credit facility (the “October 2020 Credit Facility”), consisting of a $25,000 initial term loan and $13,000 aggregate principal of delayed draw term loans (which remain available for future funding). The October 2020 Credit Facility contains certain covenants, including a minimum cash balance requirement of $5,000 at the end of each fiscal month and a minimum cash to consolidated fixed charge ratio of 2.00 to 1.00. The Company was in compliance with these covenants at June 30, 2021. (3) This loan contains certain covenants, including a maximum debt to assets ratio of 70%, as defined in the agreement. The Company was in compliance with these covenants at June 30, 2021. (4) Sellers’ Notes consist of amounts owed for acquisitions or other purchases. A total of $11,174 was paid to the former owners of MOCA in January 2021, which amount is included in “Current portion of debt, net” on the unaudited Condensed Consolidated Balance Sheet at December 31, 2020. A total of $25,200 remains due to the former owners of Midway, of which $17,200 is included in “Current portion of debt, net” on the unaudited Condensed Consolidated Balance Sheet at June 30, 2021 and December 31, 2020 and $8,000 is included in “Long-term debt, net” on the unaudited Condensed Consolidated Balance Sheet at June 30, 2021 and December 31, 2020. Additionally, at June 30, 2021, $7,843 remains due under the purchase of a non-controlling interest, of which $3,141 and $4,702 is included in “Current portion of debt, net” and “Long-term debt, net” respectively on the unaudited Condensed Consolidated Balance Sheet. At December 31, 2020, $3,140 and $6,268 is included in “Current portion of debt, net” and “Long-term debt, net” respectively. As discussed in Note 4, “Acquisitions,” the Company issued a $4,712 sellers’ note in connection with the Hemma acquisition. The note accrues interest at a rate of 12% per annum. The outstanding principal plus accrued interest is due on December 5, 2021, but may be prepaid without premium or penalty. In addition to the activity described above, in January 2021 the Company entered into a convertible note purchase agreement under which the Company issued $49,500 notes (the “2021 AWH Convertible Promissory Notes”). Each note bears interest at 8% for the first twelve months, 10% for months thirteen through fifteen, and 13% thereafter through maturity. Interest is paid-in-kind and added to the outstanding balance of the note, to be paid at maturity or upon conversion. Prior to the Conversion, the 2021 AWH Convertible Promissory Notes were convertible into common units of the Company on occurrence of certain events, such as a change of control or an initial public offering. Pursuant to the terms of the notes, upon the occurrence of an initial public offering, each note, including interest thereon less applicable withholding taxes, automatically converts into equity securities issued in connection with such initial public offering, with the number of securities issued on the basis of a price equal to the lesser of: (a)(i) a 20% discount to the issue price if an initial public offering occurs on or before 12 months from each note issuance; (ii) a 25% discount to the issue price if an initial public offering occurs after 12 months of each note issuance, but before maturity; and (b) the conversion price then in effect based on a defined pre-money valuation of the Company. In conjunction with the Company’s IPO on May 4, 2021, the total principal outstanding under the 2021 AWH Convertible Promissory Notes, plus accrued interest thereon, automatically converted into 8,910 shares of Class A common stock based on a conversion price of $6.00 per share in accordance with the terms of the agreement. Per the terms of the notes, the 2021 AWH Convertible Promissory Notes received a full twelve months of interest at conversion. Debt Maturities During the three months ended June 30, 2021, we repaid $786 of sellers’ notes related to the former owners of HealthCentral, LLC (“HCI”). During the six months ended June 30, 2021, we repaid: $500 of principal under our term notes; $11,174 of sellers’ notes related to the MOCA acquisition; and $1,571 of sellers’ notes related to the former owners of HCI. At June 30, 2021, the following cash payments are required under our debt arrangements: (in thousands) Remainder of 2021 2022 2023 2024 2025 Total Term note maturities $ — $ 4,750 $ 33,250 $ 21,624 $ 20,000 $ 79,624 Sellers’ notes (1) 23,484 11,143 3,143 — — 37,770 (1) Certain cash payments include an interest accretion component. Interest Expense Interest expense during 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Cash interest on notes $ 3,742 $ 1,705 $ 7,325 $ 3,068 Accretion 5,283 804 8,538 1,663 Non-cash interest related to beneficial conversion feature (1) 27,361 — 27,361 — Interest on financing liability (2) 502 364 1,001 672 Total $ 36,888 $ 2,873 $ 44,225 $ 5,403 (1) See Note 12, “Equity,” for additional details. (2) Interest on financing liability related to failed sale leasebacks.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
EQUITY	EQUITY Following the Conversion on April 22, 2021, the Company has authorized 750,000 shares of Class A common stock with a par value of $0.001 per share, 100 shares of Class B common stock with a par value of $0.001 per share, and 10,000 shares of preferred stock with a par value of $0.001 per share. Each share of Class A common stock is entitled to one vote per share and holders of Class B Common stock are entitled to 1,000 votes per share. Holders of Class A common stock and Class B common stock will vote together as a single class on all matters (including the election of directors) submitted to a vote of stockholders, unless otherwise required by law or our certificate of incorporation. Each share of Class B common stock is convertible at any time into one share of Class A common stock at the option of the holder. In addition, each share of Class B common stock will automatically convert into one share of Class A common stock on the final conversion date (May 4, 2026). Each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain transfers described in our certificate of incorporation, including, without limitation, transfers for tax and estate planning purposes, so long as the transferring holder of Class B common stock continues to hold exclusive voting and dispositive power with respect to the shares transferred. Once converted into a share of Class A common stock, a converted share of Class B common stock will not be reissued, and following the conversion of all outstanding shares of Class B common stock, no further shares of Class B common stock will be issued. Subject to preferences that may apply to any shares of preferred stock outstanding at the time and any contractual limitations, such as our credit agreements, the holders of our common stock will be entitled to receive dividends out of funds then legally available, if any, if our board of directors (the “Board”), in its discretion, determines to issue dividends and then only at the times and in the amounts that our Board may determine. If a dividend is paid in the form of a Class A common stock or Class B common stock, then holders of Class A common stock shall receive Class A common stock and holders of Class B common stock shall receive Class B common stock. In the event of a liquidation, dissolution, or winding up, holders of Class A common stock and Class B common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then-outstanding shares of preferred stock. In the event of any change of control transaction in respect of the Company, shares of our Class A common stock and Class B common stock shall be treated equally, ratably, and identically, on a per share basis, with respect to any consideration into which such shares are converted or any consideration paid or otherwise distributed to stockholders of the Company, unless different treatment of the shares of each class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class. The following table summarizes the total shares of Class A common stock and Class B common stock outstanding as of June 30, 2021: (in thousands) June 30, 2021 Shares of Class A common stock 168,764 Shares of Class B common stock 65 Total 168,829 Immediately prior to the completion of the Conversion, the Company was authorized to issue Common Units, Preferred Units, and Restricted Common Units (see Note 13, “Equity-Based Compensation Expense”), all with no par value. Preferred Units collectively included Series Seed Preferred Units, Series Seed+ Preferred Units, and Real Estate Preferred Units, unless otherwise specified. These share classes are included within “Additional Paid-In Capital” in the unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity on an as-converted to historical common units basis. The following table summarizes the historical units outstanding at our prior quarter end and as of December 31, 2020: (in thousands) March 31, 2021 December 31, 2020 Common Units 49,130 48,047 Real Estate Preferred Units 22,801 22,801 Series Seed Preferred Units 14,252 14,252 Series Seed+ Preferred Units 20,982 20,982 Total 107,165 106,082 In conjunction with the Company’s Conversion, each historical common unit then-outstanding converted into one share of Class A common stock, except 65 units that were allocated to shares of Class B common stock. In conjunction with the IPO, each Real Estate Preferred Unit converted into Class A common stock at a rate of one plus 1.5x, divided by the IPO price of $8.00 per share, for a total of 26,221 shares of Class A common stock. The additional 3,420 shares issued per the conversion feature was considered a contingent beneficial conversion feature and was recognized when the conversion event occurred, for a total non-cash interest charge of $27,361. Each Series Seed Preferred Unit and Series Seed+ Preferred Unit converted into shares of Class A common stock on a one-for-one basis. As discussed in Note 11, “Debt,” the AWH Promissory Notes, plus accrued interest, converted into 28,478 shares of Class A common stock and the 2021 AWH Convertible Promissory Notes, plus accrued interest, converted into 8,910 shares of Class A common stock. Warrants In conjunction with the Conversion, the holders of warrants to acquire 3,531 common units at an exercise price of $4.00 received warrants to acquire an equal number of shares of Class A common stock. On April 14, 2021, the Company entered into a warrant cancellation agreement with One Tower Atlantic, LLC, the holder of warrants to acquire 1,094 common units of AWH at an exercise price of $3.20 per unit (the “$3.20 Warrants”). Upon the completion of the IPO, the $3.20 Warrants were cancelled in exchange for a payment of $4,156 (or $7.00 per share calculated in accordance with the cashless exercise provisions of the warrant agreement) that was paid in May 2021 and is reflected within “Additional paid-in capital” on the unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity. As of June 30, 2021, warrants to acquire a total of 3,531 shares of Class A common stock at an exercise price of $4.00 per share were outstanding. These warrants had an estimated total fair value of $237 at issuance, with the fair value per warrant ranging from $0.02 to $0.10. The weighted-average remaining contractual life of the warrants outstanding as of June 30, 2021 is 2.5 years and the outstanding warrants had an intrinsic value of $23,835 at that date.

EQUITY-BASED COMPENSATION EXPEN

EQUITY-BASED COMPENSATION EXPENSE	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION EXPENSE	EQUITY-BASED COMPENSATION EXPENSE The Company adopted an incentive plan in November 2020 (the “2020 Plan”) which authorized the issuance of incentive common unit options and restricted common units (collectively, “Awards”). The maximum number of Awards to be issued under the 2020 Plan is 10,031 and any Awards that expire or are forfeited may be re-issued. A total of 9,994 Awards were issued under the plan as of June 30, 2021. The Awards generally vest over two In conjunction with the Conversion in April 2021, the holders of the restricted common units issued under the 2020 Plan received one restricted share of Class A common stock (a “restricted common share”) for each restricted common unit held immediately prior to the Conversion. Unless otherwise specified, the Awards may not be exercised for six months following the IPO. The following table summarizes the restricted common shares activity during the six months ended June 30, 2021: Restricted Common Shares Unvested, December 31, 2020 7,280 Granted 50 Vested (5,364) Forfeited (96) Unvested, June 30, 2021 1,870 The Company recognized $1,711 and $4,198 as compensation expense in connection with the restricted common shares during the three and six months ended June 30, 2021, respectively. This expense is included in “General and administrative expenses” on the unaudited Condensed Consolidated Statements of Operations and includes additional compensation charges of approximately $733 recognized with the closing of the IPO related to restricted common shares that became fully vested at that time due to acceleration clauses. During the three and six months ended June 30, 2020, the Company recognized $85 and $270, respectively, as compensation expense in connection with the Company’s previous incentive units that were outstanding at that time. As of June 30, 2021, total unrecognized compensation cost related to restricted common shares was $432, which is expected to be recognized over the weighted-average remaining vesting period of 0.6 years. In July 2021, the Company adopted a new stock incentive plan (the “2021 Plan”), pursuant to which 17,000 shares of Class A common stock are reserved for issuance thereunder, subject to certain adjustments and other terms. Following the adoption of the 2021 Plan, no additional awards are expected to be issued under the 2020 Plan. In July 2021, the Company also adopted an employee stock purchase plan (the “2021 ESPP”), pursuant to which 4,000 shares of Class A common stock are reserved for issuance thereunder, subject to certain adjustments and other terms. As of the date of this filing, no shares have been issued under the 2021 ESPP.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Gross profit $ 34,516 $ 12,178 $ 64,183 $ 19,670 Income tax expense 11,995 3,632 20,971 6,069 Effective tax rate on gross profit 34.8 % 29.8 % 32.7 % 30.9 % The Company’s quarterly tax provision is calculated under the discrete method which treats the interim period as if it were the annual period and determines the income tax expense or benefit on that basis. The discrete method is applied when application of the estimated annual effective tax rate is impractical because it is not possible to reliably estimate the annual effective tax rate. The Company believes, at this time, the use of this discrete method is more appropriate than the annual effective tax rate method due to the high degree of uncertainty in estimating annual pre-tax income due to the early growth stage of the business. Since the Company operates in the cannabis industry, it is subject to the limitations of IRC Section 280E, which prohibits businesses engaged in the trafficking of Schedule I or Schedule II controlled substances from deducting ordinary and necessary business expenses from gross profit. Cannabis businesses operating in states that align their tax codes with IRC Section 280E are also unable to deduct ordinary and necessary business expenses for state tax purposes. Ordinary and necessary business expenses deemed non-deductible under IRC Section 280E are treated as permanent book-to-tax differences. Therefore, the effective tax rate can be highly variable and may not necessarily correlate with pre-tax income or loss.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments The Company does not have significant future annual commitments, other than related to leases and debt, which are disclosed in Notes 10 and 11, respectively. Legal and Other Matters The Company’s operations are subject to a variety of local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or losses of permits that could result in the Company ceasing operations. While management believes that the Company is in compliance with applicable local and state regulations as of June 30, 2021, cannabis regulations continue to evolve and are subject to differing interpretations, and accordingly, the Company may be subject to regulatory fines, penalties, or restrictions in the future. State laws that permit and regulate the production, distribution, and use of cannabis for adult use or medical purposes are in direct conflict with the Controlled Substances Act (21 U.S.C. § 811) (the “CSA”), which makes cannabis use and possession federally illegal. Although certain states and territories of the U.S. authorize medical and/or adult use cannabis production and distribution by licensed or registered entities, under U.S. federal law, the possession, use, cultivation, and transfer of cannabis and any related drug paraphernalia is illegal and any such acts are criminal acts under federal law under the CSA. Although the Company’s activities are believed to be compliant with applicable state and local laws, strict compliance with state and local laws with respect to cannabis may neither absolve the Company of liability under U.S. federal law, nor may it provide a defense to any federal proceeding which may be brought against the Company. The Company may be, from time to time, subject to various administrative, regulatory, and other legal proceedings arising in the ordinary course of business. Contingent liabilities associated with legal proceedings are recorded when a liability is probable and the contingent liability can be estimated. We do not accrue for contingent losses that, in our judgment, are considered to be reasonably possible but not probable. At June 30, 2021 there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on our consolidated results of operations, other than as disclosed below. Legal Settlement In December 2020, TVP, LLC, TVP Grand Rapids, LLC and, TVP Alma, LLC (collectively, the “TVP Parties”) filed a claim alleging breach of contract against FPAW Michigan, LLC (“FPAW”), a VIE of the Company through FPAW Michigan 2, Inc., and AWH related to a purchase agreement for the Company’s potential acquisition of certain locations in Michigan. The TVP Parties asked the court to grant specific performance of the contracts between the Company and the TVP Parties, which, if granted, would have resulted in AWH issuing approximately 4,770 common units as originally agreed in September 2019 and paying approximately $16,500 in cash to the TVP parties in exchange for the entities holding the properties subject to the agreements. AWH and FPAW filed an answer to the complaint on January 28, 2021 and believed there existed valid defenses to the demand for specific performance due to lack of suitability of three of the six properties subject to the original transaction agreements. On April 14, 2021, FPAW and AWH entered into a settlement agreement with TVP Parties (the “Settlement Agreement”). The Settlement Agreement provides for, among other items, the dismissal of all claims brought by the TVP Parties against FPAW and AWH upon performance of each parties’ obligations under the Settlement Agreement. Pursuant to the Settlement Agreement, FPAW and AWH were required to deliver a cash payment of $9,000 to TVP, LLC on the date of the Settlement Agreement, with an additional cash payment of $5,480 due on or before January 1, 2022, or approximately $2,000 less than would have otherwise been payable under the agreements. In addition, on April 14, 2021, upon the execution of the Settlement Agreement, AWH issued 4,770 common units of AWH with a fair value of $26,041 to an escrow account, to be held in the name of the escrow agent (the “Escrow Units”). Also as part of the Settlement Agreement and in order to avoid further potential litigation, AWH issued 255 common units of AWH with a fair value of $1,390 to a party to one of the September 2019 agreements that was not a party to the litigation matter. Upon the receipt of the initial cash payment of $9,000 and the issuance of the Escrow Units, the TVP Parties filed a stipulated order dismissing all lawsuits, with prejudice and without costs, against FPAW and AWH. The Escrow Units are issued and outstanding and will remain in the escrow account until such time as the TVP Parties exercise an option to hold the Escrow Units directly (the “Put Option”). Upon their exercise of the Put Option, the Escrow Units shall be released to the TVP Parties and the TVP Parties shall transfer to FPAW the equity interests of the entities that hold the three real estate properties in Grand Rapids, which are the three remaining properties that remain suitable for the original business purposes. The Put Option is required to be exercised by the TVP Parties within three years of the date of the Settlement Agreement. Of the total settlement liability, $5,480 is included within “Accounts payable and accrued expenses” on the accompanying unaudited Condensed Consolidated Balance Sheet as of June 30, 2021 and the fair value of the share issuance of $27,431 is reflected within “Reserve for equity issued in litigation settlement” and “Equity issued in litigation settlement” on the unaudited Condensed Consolidated Statement of Changes in Stockholders’ Equity. The fair value of the three properties to be acquired per the settlement of $5,400 is recorded within “Other noncurrent assets” as of June 30, 2021, and will remain until the time such property titles transfer to the Company. The settlement charge of $36,511 is reflected within “Settlement expense” on the unaudited Condensed Consolidated Statements of Operations. The settlement charge is not expected to be deductible for tax purposes. Shareholder Dispute On May 28, 2021, Senvest Management, LLC, Hadron Capital (Cayman) LTD., and Measure8 Venture Partners, LLC (collectively, the “Claimants”), as former holders of convertible notes issued and sold by the Company (the “Convertible Notes”) pursuant to the Company’s Convertible Note Purchase Agreement, dated as of June 12, 2019 (the “2019 Convertible Note Purchase Agreement”), filed an arbitration demand, which was subsequently amended on July 28, 2021 (the “Arbitration Demand”), against the Company and its Chief Executive Officer, Abner Kurtin, before the American Arbitration Association. In their Arbitration Demand, the Claimants take issue with the April 22, 2021 amendment of the terms of the Convertible Note Purchase Agreement (the “Amended Notes Consent”), which was approved by holders of approximately 66% of the principal amount of the Convertible Notes, in excess of the simple majority required to amend the Convertible Notes. The Amended Notes Consent set the conversion price of the Convertible Notes at $2.96 per share. The Claimants allege that the Amended Notes Consent was obtained improperly and is void, and seek damages in excess of $20,000. The Company disputes the Claimants’ allegations and believes the Amended Notes Consent was properly obtained in accordance with the terms of the Convertible Notes and 2019 Convertible Note Purchase Agreement and the Amended Notes are binding on all holders of the Convertible Notes. The Company intends to vigorously defend against what it views as meritless claims. Other Transactions In December 2020, the Company submitted an amended state application to acquire BCCO, LLC, a medical dispensary license holder in Ohio for total cash consideration of approximately $3,500, subject to certain adjustments at closing. The Company may settle the outstanding balances due under a note receivable and a working capital loan, which total $3,460 as of June 30, 2021, as part of the purchase price at closing. The Company expects the transaction to close in August 2021. Investments On February 25, 2021, we entered into a definitive investment agreement (the “Investment Agreement”) with MedMen Enterprises Inc. (“MedMen”), under which we will, subject to regulatory approval, complete an investment (the “Investment”) of approximately $73,000 in MedMen NY, Inc. (“MMNY”), a licensed medical cannabis operator in New York. In connection with the investment, and subject to regulatory approval, MMNY will engage our services pursuant to a management agreement (the “Management Agreement”) under which we will advise on MMNY’s operations pending regulatory approval of the Investment transaction. Under the terms of the Investment, at closing, MMNY will assume approximately $73,000 of MedMen’s existing secured debt, AWH will invest $35,000 in cash in MMNY, and AWH New York, LLC will issue a senior secured promissory note in favor of MMNY’s senior secured lender in the principal amount of $28,000, guaranteed by AWH, which cash investment and note will be used to reduce the amounts owed to MMNY’s senior secured lender. Following its investment, AWH will hold a controlling interest in MMNY equal to approximately 86.7% of the equity in MMNY, and be provided with an option to acquire MedMen’s remaining interest in MMNY in the future. AWH must also make an additional investment of $10,000 in exchange for additional equity in MMNY, which investment will also be used to repay MMNY’s senior secured lender if adult-use cannabis sales commence in MMNY’s dispensaries. The transactions contemplated by the Investment Agreement are subject to customary closing conditions, including approval from the New York State Department of Health and other applicable regulatory bodies.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS AWH had a management services agreement (“MSA”) with AGP Partners, LLC (“AGP”) under which AGP provided management services to AWH in connection with the monitoring and oversight of AWH’s financial and business functions. The founder of AGP is the Chief Executive Officer and one of the founders of AWH. Pursuant to the MSA, AWH paid AGP a quarterly fee of $100. Pursuant to the terms of the agreement, the MSA was terminated following the Company’s IPO in May 2021. Upon termination, AGP was entitled to receive a $2,000 payout that was contingent upon the beneficial owners of AGP who serve as officers of the Company entering into lock-up agreements that extend for 360 days following the Company’s IPO. Pursuant to the MSA, each such lock-up agreement contains a provision whereby AWH’s Board may waive, in whole or in part, such extended lock-up thereto if AWH’s Board determines, in its sole discretion and in accordance with AWH’s governing documents and applicable law, that such waiver will not have an adverse effect on AWH and its equity holders, business, financial condition, and prospects. We recognized expenses related to the MSA of $2,024 and $2,124 during the three and six months ended June 30, 2021, respectively, and $100 and $200 during the three and six months ended June 30, 2020, respectively, that are included in “General and administrative expenses” on the unaudited Condensed Consolidated Statements of Operations. A total of $2,024 and $100 of these fees are included in “Accounts payable and other accrued expenses” on the unaudited Condensed Consolidated Balance Sheets as of June 30, 2021 and December 31, 2020, respectively. As discussed in Note 11, “Debt,” certain of the AWH Convertible Promissory Notes were with related party entities that are managed by one of the founders of the Company.

SUPPLEMENTAL FINANCIAL INFORMAT

SUPPLEMENTAL FINANCIAL INFORMATION	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL FINANCIAL INFORMATION	SUPPLEMENTAL INFORMATION The following table presents supplemental information regarding our other current assets: (in thousands) June 30, 2021 December 31, 2020 Tenant improvement allowance $ 14,292 $ 24,349 Deposits and other receivables 4,666 4,021 Prepaid expenses 4,247 2,311 Construction deposits 1,582 712 Other 1,688 1,205 Total $ 26,475 $ 32,598 The following table presents supplemental information regarding our accounts payable and accrued liabilities: (in thousands) June 30, 2021 December 31, 2020 Accounts payable $ 15,894 $ 7,363 Fixed asset purchases 13,734 11,572 Litigation settlement 5,480 — Accrued interest 3,544 7,723 Accrued payroll and related expenses 2,462 2,762 Other 6,098 1,804 Total $ 47,212 $ 31,224 The following table presents supplemental information regarding our general and administrative expenses: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Compensation $ 13,654 $ 2,809 $ 23,706 $ 5,274 Professional services 5,870 1,450 9,787 2,907 Rent and utilities 4,213 2,665 9,646 5,433 Depreciation and amortization 2,470 1,969 4,889 3,920 Insurance 1,176 358 2,038 568 Marketing 871 224 1,405 625 Loss on sale of assets — 286 — 286 Other 2,358 214 4,287 611 Total $ 30,612 $ 9,975 $ 55,758 $ 19,624

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSManagement has evaluated subsequent events to determine if events or transactions occurring through the filing date of this Quarterly Report on Form 10-Q require adjustment to or disclosure in the Company’s condensed consolidated financial statements. There were no events that require adjustment to or disclosure in the condensed consolidated financial statements, except as disclosed.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with (i) United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of our management, our unaudited condensed consolidated financial statements and accompanying notes (the “Financial Statements”) include all normal recurring adjustments that are necessary for the fair statement of the interim periods presented. Interim results of operations are not necessarily indicative of results for the full year, or any other period. The Financial Statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) for the year ended December 31, 2020 (“Annual Financial Statements”) which are included in our Registration Statement on Form S-1, as amended, filed with the U.S. Securities and Exchange Commission on April 26, 2021.
Principles of Consolidation	The Financial Statements include the accounts of Ascend Wellness Holdings, Inc. and its subsidiaries. Refer to Note 8, “Variable Interest Entities,” for additional information regarding certain entities that are not wholly-owned by the Company. We include the results of acquired businesses in the consolidated statements of operations from their respective acquisition dates. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts. We base our estimates on historical experience, known or expected trends, independent valuations, and various other measurements that we believe to be reasonable under the circumstances. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform with our current period presentation. These changes had no impact on our previously reported net loss.
Variable Interest Entities	Variable Interest Entities In determining whether we are the primary beneficiary of a variable interest entity (“VIE”), we assess whether we have the power to direct matters that most significantly impact the activities of the VIE and the obligation to absorb losses or the right to receive the benefits from the VIE that could potentially be significant to the VIE. A VIE is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured that such equity investors lack the ability to make significant decisions relating to the entity’s operations through voting rights or do not substantively participate in the gains or losses of the entity. The primary beneficiary has both the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. We assess all variable interests in the entity and use our judgment when determining if we are the primary beneficiary. Other qualitative factors that are considered include decision-making responsibilities, the VIE capital structure, risk and rewards sharing, contractual agreements with the VIE, voting rights, and level of involvement of other parties. We assess the primary beneficiary determination for a VIE on an ongoing basis if there are any changes in the facts and circumstances related to a VIE.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted CashAs of June 30, 2021 and December 31, 2020, we did not hold significant cash equivalents.
Fair Value of Financial Instruments	Fair Value of Financial Instruments During the six months ended June 30, 2021 and 2020, we had no transfers of assets or liabilities between any of the hierarchy levels.
Basic and Diluted Loss per Share	Basic and Diluted Loss per Share The Company computes earnings (loss) per share (“EPS”) using the two-class method required for multiple classes of common stock. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, except for voting and conversion rights. As the liquidation and dividend rights are identical, undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both and individual and combined basis. EPS and weighted-average shares outstanding for the three and six months ended June 30, 2021 and 2020 have been computed on the basis of treating the historical common unit equivalents previously outstanding as shares of Class A common stock, as such historical units converted into shares of Class A common stock in the Conversion. Basic EPS is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted EPS reflects potential dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if all potential common shares had been issued and were dilutive. However, potentially dilutive securities are excluded from the computation of diluted EPS to the extent that their effect is anti-dilutive. Potential dilutive securities in the current year include incremental shares of common stock issuable upon the exercise of warrants and unvested restricted stock awards. Potential dilutive securities in the prior year periods include incremental shares of common stock issuable upon the exercise of warrants, vested incentive units, and the conversion of convertible notes. As of June 30, 2021 and 2020, 5,400 and 17,794 shares of common stock equivalents, respectively, were excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive. Shares of restricted stock granted by us are considered to be legally issued and outstanding as of the date of grant, notwithstanding that the shares remain subject to the risk of forfeiture if the vesting conditions for such shares
Recently Adopted and Recently Issued Accounting Standards	Recently Adopted Accounting Standards Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes , (“ASU 2019-12”) which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 became effective for on beginning January 1, 2021 and did not have a significant impact on our consolidated financial statements. Investments In January 2020, the FASB issued ASU 2020-01, Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. This ASU provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities and became effective for the Company beginning on January 1, 2021. Adoption of this guidance did not have a material impact on our consolidated financial statements. Recently Issued Accounting Pronouncements The following standards have been recently issued by the FASB. Pronouncements that are not applicable to the Company or where it has been determined do not have a significant impact on us have been excluded herein. Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , (“ASU 2016-13”). ASU 2016-13 replaces the existing guidance surrounding measurement and recognition of credit losses on financial assets measured at amortized cost, including trade receivables and investments in certain debt securities, by requiring recognition of an allowance for credit losses expected to be incurred over an asset’s life based on relevant information about past events, current conditions, and supportable forecasts impacting its ultimate collectability. This current expected credit losses (“CECL”) model will result in earlier recognition of credit losses than the current “as incurred” model, under which losses are recognized only upon the occurrence of an event that gives rise to the incurrence of a probable loss. ASU 2019-05, Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief , was issued in May 2019 to provide target transition relief allowing entities to make an irrevocable one-time election upon adoption of the new credit losses standard to measure financial assets previously measured at amortized cost (except held-to-maturity securities) using the fair value option. ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses , was issued in November 2019 to clarify, improve, and amend certain aspects of ASU 2016-13, such as disclosures related to accrued interest receivables and the estimation of credit losses associated with financial assets secured by collateral. ASU 2020-03, Codification Improvements to Financial Instruments , was issued in March 2020 to improve and clarify various financial instruments topics, including the CECL standard issued in 2016. The ASU includes seven different issues that describe the areas of improvement and the related amendments to U.S. GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. Certain amendments contained within this update were effective upon issuance and had no material impact on our consolidated financial statements. The amendments related to ASU 2019-04 and ASU 2016-13 will be adopted in conjunction with ASU 2016-13. ASU 2016-13 and its related ASUs are effective for us beginning January 1, 2023. We are currently evaluating the impact of this guidance on our consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This new guidance can be adopted prospectively no later than December 1, 2022, with early adoption permitted, and is not expected to have a material impact on our consolidated financial statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope , (“ASU 2021-01”), which clarifies certain optional expedients and exceptions in Topic 848 when accounting for derivative contracts and certain hedging relationships affected by changes in interest rates. ASU 2021-01 was effective upon issuance and the amendments within are applied either prospectively or retrospectively. ASU 2021-01 did not have a significant impact on our consolidated financial statements. Debt In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. This guidance will be effective for us January 1, 2022 on a full modified or modified retrospective basis, with early adoption permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. Modification or Exchanges of Freestanding Equity-Classified Written Call Options In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensation – Stock Compensation (Topic 718), and Derivatives and Hedging – Contracts in an Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting For Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options,

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash to amounts shown in the unaudited Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2021 December 31, 2020 Cash and cash equivalents $ 104,212 $ 56,547 Restricted cash — 1,550 Total cash, cash equivalents, and restricted cash $ 104,212 $ 58,097
Schedule of Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash to amounts shown in the unaudited Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2021 December 31, 2020 Cash and cash equivalents $ 104,212 $ 56,547 Restricted cash — 1,550 Total cash, cash equivalents, and restricted cash $ 104,212 $ 58,097

REPORTABLE SEGMENTS AND REVENUE

REPORTABLE SEGMENTS AND REVENUE (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Disaggregation of Revenue	The Company disaggregates its revenue from the direct sale of cannabis to customers as retail revenue and wholesale revenue. We have determined that disaggregating revenue into these categories best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Retail revenue $ 58,038 $ 19,132 $ 103,559 $ 37,986 Wholesale revenue 39,473 9,869 69,815 17,900 97,511 29,001 173,374 55,886 Elimination of inter-company revenue (14,144) (3,617) (23,870) (7,910) Total revenue, net $ 83,367 $ 25,384 $ 149,504 $ 47,976

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired	The Company allocated the purchase price of the Hemma acquisition as summarized in the table below. The purchase price allocation reflects various preliminary fair value estimates and analyses, including certain tangible assets acquired and liabilities assumed, the valuation of intangible assets acquired, and goodwill, which are subject to change within the measurement period as preliminary valuations are finalized. (in thousands) Assets acquired (liabilities assumed): Cash $ 44 Accounts receivable 41 Inventory 188 Property and equipment 153 Intangible assets (1) 6,928 Goodwill (2) 3,039 Accounts payable and accrued liabilities (12) Net assets acquired $ 10,381 Consideration transferred: Cash (3) $ 7,212 Settlement of note and working capital loan (4) 3,169 Total consideration $ 10,381 (1) The amortization period for the acquired intangible assets is 10 years. (2) Goodwill is largely attributable to the value we expect to obtain from long-term business growth and buyer-specific synergies. The goodwill is not deductible for tax purposes due to the limitations imposed under Internal Revenue Code (“IRC”) Section 280E. See Note 14, “Income Taxes,” for additional information. (3) Total cash consideration includes a $4,712 sellers’ note. See Note 11, “Debt,” for additional information. (4) Includes settlement of $2,500 due under a note receivable and settlement of $669 due under a working capital line of credit.
Business Acquisition, Pro Forma Information	The following tables summarize the revenue and net income related to MOCA, GCC, Midway, and Hemma included in our consolidated results for the three and six months ended June 30, 2021. Three Months Ended June 30, 2021 (in thousands) MOCA GCC Midway Hemma Revenue, net $ 11,088 $ 2,651 $ 5,316 $ — Net income (loss) 1,188 (1,431) (623) (101) Six Months Ended June 30, 2021 (in thousands) MOCA GCC Midway Hemma Revenue, net $ 20,994 $ 5,057 $ 8,579 $ — Net income (loss) 1,899 (942) (905) (101) The tables below summarize the unaudited pro forma combined revenue and net income (loss) of AWH, MOCA, GCC, and Midway for the three and six months ended June 30, 2020 as if the respective acquisitions had occurred on January 1, 2019. These results do not reflect the cost of integration activities or benefits from expected revenue enhancements and synergies. Accordingly, the unaudited pro forma information is not necessarily indicative of the results that would have been achieved if the acquisitions had been effective on January 1, 2019. Pro forma financial information is not presented for Hemma, as such results are immaterial to both the current and prior periods. Three Months Ended June 30, 2020 (in thousands) AWH MOCA GCC Midway Pro Forma Adjustments (1) Pro Forma Revenue, net $ 25,384 $ 3,357 $ 996 $ 2,418 $ — $ 32,155 Net income (loss) (4,305) 961 177 471 (3,371) (6,067) (1). These adjustments include estimated additional amortization expense of $899 on intangible assets acquired as part of the acquisitions as follows: $244 related to MOCA, $288 related to GCC, and $367 related to Midway. These adjustments also include additional estimated interest expense of $2,534 and an adjustment to exclude $62 of acquisition-related costs incurred during the three months ended June 30, 2020, which are included in “General and administrative expenses” in the accompanying unaudited Condensed Consolidated Statements of Operations. These adjustments are not tax-effected, as the related expenses are not deductible for tax purposes due to the limitations imposed on marijuana dispensaries under IRC Section 280E. Six Months Ended June 30, 2020 (in thousands) AWH MOCA GCC Midway Pro Forma Adjustments (1) Pro Forma Revenue, net $ 47,976 $ 7,035 $ 2,011 $ 4,641 $ — $ 61,663 Net income (loss) (11,423) 2,021 515 907 (6,794) (14,774) (1). These adjustments include estimated additional amortization expense of $1,797 on intangible assets acquired as part of the acquisitions as follows: $488 related to MOCA, $575 related to GCC, and $734 related to Midway. These adjustments also include additional estimated interest expense of $5,069 and an adjustment to exclude $72 of acquisition-related costs incurred during the six months ended June 30, 2020, which are included in “General and administrative expenses” in the accompanying unaudited Condensed Consolidated Statements of Operations. These adjustments are not tax-effected, as the related expenses are not deductible for tax purposes due to the limitations imposed on marijuana dispensaries under IRC Section 280E.

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The components of inventory are as follows: (in thousands) June 30, 2021 December 31, 2020 Materials and supplies $ 19,126 $ 7,756 Work in process 16,788 13,615 Finished goods 11,185 7,626 Total $ 47,099 $ 28,997

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment and related depreciation consist of the following: (in thousands) June 30, 2021 December 31, 2020 Leasehold improvements $ 80,401 $ 33,931 Buildings 42,486 38,561 Furniture, fixtures, and equipment 38,614 28,554 Construction in progress 32,983 25,139 Land 1,002 894 Property and equipment, gross 195,486 127,079 Less: accumulated depreciation 13,000 6,539 Property and equipment, net $ 182,486 $ 120,540

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following tables present the summarized financial information about the Company’s consolidated VIEs which are included in the unaudited Condensed Consolidated Balance Sheets as of June 30, 2021 and December 31, 2020 and unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2021 and 2020. These entities were determined to be VIEs since the Company possesses the power to direct the significant activities of the VIEs and has the obligation to absorb losses or the right to receive benefits from the VIE. June 30, 2021 December 31, 2020 (in thousands) Ascend Illinois Ascend Illinois Ascend Michigan Current assets $ 70,278 $ 54,787 $ 11,355 Other noncurrent assets 162,954 151,449 58,516 Current liabilities 71,757 62,508 5,553 Noncurrent liabilities 127,944 134,792 37,809 Equity (deficit) attributable to AWH 16,398 9,322 (23,822) Three Months Ended June 30, 2021 Three Months Ended (in thousands) Ascend Illinois Ascend Illinois Ascend Michigan (2) Revenue, net $ 68,083 $ 21,912 $ 1,703 Net income attributable to non-controlling interests (1) — 737 — Net income (loss) attributable to AWH 9,329 2,949 (3,514) Net income (loss) $ 9,329 $ 3,686 $ (3,514) Six Months Ended Six Months Ended (in thousands) Ascend Illinois Ascend Illinois Ascend Michigan (2) Revenue, net $ 122,821 $ 42,969 $ 3,238 Net income attributable to non-controlling interests (1) — 1,097 — Net income (loss) attributable to AWH 16,423 4,387 (8,094) Net income (loss) $ 16,423 $ 5,484 $ (8,094) (1) Effective July 30, 2020, the Company purchased the non-controlling interests of Ascend Illinois; therefore, there are no non-controlling interests as of and for the three and six months ended June 30, 2021. (2) In December 2020, the sole member of FPAW Michigan 2, Inc. (“Ascend Michigan”) assigned his interests to AWH, thereby making AWH the majority member, retaining 99.9% of the membership interests in Ascend Michigan. Following this assignment, Ascend Michigan is no longer considered a VIE.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible Assets (in thousands) June 30, 2021 December 31, 2020 Finite-lived intangible assets Licenses and permits (1) $ 45,142 $ 39,888 In-place leases 19,963 19,963 Trade names (1) 380 210 65,485 60,061 Accumulated amortization: Licenses and permits (3,132) (1,080) In-place leases (9,460) (8,362) Trade names (380) (158) (12,972) (9,600) Total intangible assets, net $ 52,513 $ 50,461
Schedule of Goodwill	Goodwill (in thousands) Balance, December 31, 2020 $ 22,798 Acquisitions 3,039 Adjustments to purchase price allocation 1,504 Balance, June 30, 2021 $ 27,341

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of Lease Assets and Lease Liabilities	The components of lease assets and lease liabilities and their classification on our unaudited Condensed Consolidated Balance Sheets were as follows: (in thousands) Classification June 30, 2021 December 31, 2020 Lease assets Operating leases Operating lease right-of-use assets $ 101,731 $ 84,642 Lease liabilities Current liabilities Operating leases Operating lease liabilities, current $ 2,206 $ 2,128 Noncurrent liabilities Operating leases Operating lease liabilities, noncurrent 174,489 156,400 Total lease liabilities $ 176,695 $ 158,528
Lease Cost	The components of lease costs and classification within the unaudited Condensed Consolidated Statements of Operations were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Operating lease costs Capitalized to inventory $ 4,620 $ 3,292 $ 9,114 $ 4,553 General and administrative expenses 1,310 1,028 2,590 1,827 Total operating lease costs $ 5,930 $ 4,320 $ 11,704 $ 6,380 The following table presents information on short-term and variable lease costs: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Total short-term and variable lease costs $ 174 $ 578 $ 826 $ 1,184
Supplemental Cash and Non-Cash Information for Leases	The following table includes supplemental cash and non-cash information related to our leases: Six Months Ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 10,568 $ 5,038 Lease assets obtained in exchange for new operating lease liabilities $ 17,759 $ 64,757
Operating Lease, Liability Maturity Schedule	The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our unaudited Condensed Consolidated Balance Sheet as of June 30, 2021 are as follows: (in thousands) Operating Lease Liabilities Remainder of 2021 $ 11,589 2022 23,923 2023 24,602 2024 25,301 2025 26,032 Thereafter 343,309 Total lease payments 454,756 Less: imputed interest 278,061 Present value of lease liabilities $ 176,695
Financing Liability, Maturity Schedule	The following table presents cash payments due under transactions that did not qualify for sale-leaseback treatment. The cash payments are allocated between interest and liability reduction, as applicable. The “sold” assets remain within land, buildings, and leasehold improvements, as appropriate, for the duration of the lease and a financing liability equal to the amount of proceeds received is recorded within “Long-term debt, net” on the accompanying unaudited Condensed Consolidated Balance Sheets. (in thousands) Remainder of 2021 2022 2023 2024 2025 Thereafter Total Cash payments due under financing liabilities $ 1,020 $ 2,082 $ 2,143 $ 2,206 $ 2,271 $ 9,149 $ 18,871

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt Instruments	(in thousands) June 30, 2021 December 31, 2020 Capital Construction Loan $ 11,624 $ 11,624 AWH Convertible Promissory Notes (1) — 75,484 July 2019 Notes 10,000 10,000 Ann Arbor Note 4,750 5,250 October 2020 Credit Facility (2) 25,885 25,260 NJ Term Loan (3) 20,000 20,000 NJ Real Estate Loan 4,500 4,500 Sellers’ Notes (4) 37,755 45,782 Finance liabilities 17,129 17,129 Total debt $ 131,643 $ 215,029 Current portion of debt $ 25,053 $ 60,357 Less: unamortized deferred financing costs 997 1,027 Current portion of debt, net $ 24,056 $ 59,330 Long-term debt $ 106,590 $ 154,672 Less: unamortized deferred financing costs 1,860 2,395 Long-term debt, net $ 104,730 $ 152,277 (1) On April 22, 2021 the convertible note purchase agreement entered in June 2019 (the “AWH Convertible Promissory Notes”) was amended to clarify the conversion rate of the underlying notes. Prior to the amendment, the conversion feature in connection with a going public transaction specified that the holders would receive a number of shares of Class A common stock equal to the outstanding principal and accrued and unpaid interest under the notes divided by a price per share equal to the lesser of (a)(i) a 20% discount to the price per share of Class A common stock offered pursuant to an offering in the event such offering occurs on or before 12 months from the closing date; (ii) a 25% discount to the price per share of Class A common stock offered pursuant to an offering in the event such offering occurs after 12 months from the closing date, but before the maturity date; and (b) the price per security, which equals the price per share resulting from a pre-money valuation of the company of $295,900, which was determined by the Company to be $2.96. The amendment to the note purchase agreement was solely made to clarify the conversion price in connection with a going public transaction. The note purchase agreement includes provisions to the effect that the notes may be amended with the written consent of the holders of a majority of the outstanding principal amount of all such notes, and which such consent was obtained, and any amendment so approved is binding on all holders of the notes. In conjunction with the Company’s IPO on May 4, 2021, the total principal outstanding under the AWH Convertible Promissory Notes, plus accrued interest thereon, automatically converted into 28,478 shares of Class A common stock based on a conversion price of $2.96 per share in accordance with the terms of the amended agreement. Per the terms of the notes, any AWH Convertible Promissory Notes outstanding for less than twelve months received a full twelve months of interest at conversion. $1,000 of these notes were with related party entities that are managed by one of the founders of the Company. (2) In October 2020, the Company entered into a $38,000 senior secured credit facility (the “October 2020 Credit Facility”), consisting of a $25,000 initial term loan and $13,000 aggregate principal of delayed draw term loans (which remain available for future funding). The October 2020 Credit Facility contains certain covenants, including a minimum cash balance requirement of $5,000 at the end of each fiscal month and a minimum cash to consolidated fixed charge ratio of 2.00 to 1.00. The Company was in compliance with these covenants at June 30, 2021. (3) This loan contains certain covenants, including a maximum debt to assets ratio of 70%, as defined in the agreement. The Company was in compliance with these covenants at June 30, 2021. (4) Sellers’ Notes consist of amounts owed for acquisitions or other purchases. A total of $11,174 was paid to the former owners of MOCA in January 2021, which amount is included in “Current portion of debt, net” on the unaudited Condensed Consolidated Balance Sheet at December 31, 2020. A total of $25,200 remains due to the former owners of Midway, of which $17,200 is included in “Current portion of debt, net” on the unaudited Condensed Consolidated Balance Sheet at June 30, 2021 and December 31, 2020 and $8,000 is included in “Long-term debt, net” on the unaudited Condensed Consolidated Balance Sheet at June 30, 2021 and December 31, 2020. Additionally, at June 30, 2021, $7,843 remains due under the purchase of a non-controlling interest, of which $3,141 and $4,702 is included in “Current portion of debt, net” and “Long-term debt, net” respectively on the unaudited Condensed Consolidated Balance Sheet. At December 31, 2020, $3,140 and $6,268 is included in “Current portion of debt, net” and “Long-term debt, net” respectively.
Schedule of Maturities of Debt	At June 30, 2021, the following cash payments are required under our debt arrangements: (in thousands) Remainder of 2021 2022 2023 2024 2025 Total Term note maturities $ — $ 4,750 $ 33,250 $ 21,624 $ 20,000 $ 79,624 Sellers’ notes (1) 23,484 11,143 3,143 — — 37,770 (1) Certain cash payments include an interest accretion component.
Schedule of Interest Expense	Interest expense during 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Cash interest on notes $ 3,742 $ 1,705 $ 7,325 $ 3,068 Accretion 5,283 804 8,538 1,663 Non-cash interest related to beneficial conversion feature (1) 27,361 — 27,361 — Interest on financing liability (2) 502 364 1,001 672 Total $ 36,888 $ 2,873 $ 44,225 $ 5,403 (1) See Note 12, “Equity,” for additional details. (2) Interest on financing liability related to failed sale leasebacks.

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of Common Stock Outstanding	The following table summarizes the total shares of Class A common stock and Class B common stock outstanding as of June 30, 2021: (in thousands) June 30, 2021 Shares of Class A common stock 168,764 Shares of Class B common stock 65 Total 168,829
Schedule of Member Units	The following table summarizes the historical units outstanding at our prior quarter end and as of December 31, 2020: (in thousands) March 31, 2021 December 31, 2020 Common Units 49,130 48,047 Real Estate Preferred Units 22,801 22,801 Series Seed Preferred Units 14,252 14,252 Series Seed+ Preferred Units 20,982 20,982 Total 107,165 106,082

EQUITY-BASED COMPENSATION EXP_2

EQUITY-BASED COMPENSATION EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Unvested Restricted Stock Units Roll Forward	The following table summarizes the restricted common shares activity during the six months ended June 30, 2021: Restricted Common Shares Unvested, December 31, 2020 7,280 Granted 50 Vested (5,364) Forfeited (96) Unvested, June 30, 2021 1,870

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Gross profit $ 34,516 $ 12,178 $ 64,183 $ 19,670 Income tax expense 11,995 3,632 20,971 6,069 Effective tax rate on gross profit 34.8 % 29.8 % 32.7 % 30.9 %

SUPPLEMENTAL FINANCIAL INFORM_2

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Current Assets	The following table presents supplemental information regarding our other current assets: (in thousands) June 30, 2021 December 31, 2020 Tenant improvement allowance $ 14,292 $ 24,349 Deposits and other receivables 4,666 4,021 Prepaid expenses 4,247 2,311 Construction deposits 1,582 712 Other 1,688 1,205 Total $ 26,475 $ 32,598
Schedule of Accounts Payable and Accrued Liabilities	The following table presents supplemental information regarding our accounts payable and accrued liabilities: (in thousands) June 30, 2021 December 31, 2020 Accounts payable $ 15,894 $ 7,363 Fixed asset purchases 13,734 11,572 Litigation settlement 5,480 — Accrued interest 3,544 7,723 Accrued payroll and related expenses 2,462 2,762 Other 6,098 1,804 Total $ 47,212 $ 31,224
Schedule of General and Administrative Expenses	The following table presents supplemental information regarding our general and administrative expenses: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Compensation $ 13,654 $ 2,809 $ 23,706 $ 5,274 Professional services 5,870 1,450 9,787 2,907 Rent and utilities 4,213 2,665 9,646 5,433 Depreciation and amortization 2,470 1,969 4,889 3,920 Insurance 1,176 358 2,038 568 Marketing 871 224 1,405 625 Loss on sale of assets — 286 — 286 Other 2,358 214 4,287 611 Total $ 30,612 $ 9,975 $ 55,758 $ 19,624

THE COMPANY AND NATURE OF OPE_2

THE COMPANY AND NATURE OF OPERATIONS (Details) $ / shares in Units, $ in Thousands	May 07, 2021shares	May 04, 2021USD ($)$ / sharesshares	Apr. 22, 2021vote$ / sharesshares	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020shares
Subsidiary, Sale of Stock [Line Items]
Stock split, conversion ratio			2
Preferred stock, shares authorized (in shares)			10,000,000	10,000,000	0
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Underwriting discounts | $				$ 5,935
Class A common stock
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)			750,000,000	750,000,000	0
Common stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Number of votes per common share | vote			1
Shares issued upon conversion of preferred units (in shares)		113,301,000
Shares issued upon conversion of convertible notes (in shares)		37,388,000
Class B common stock
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)			100,000	100,000	0
Common stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Number of votes per common share | vote			1,000
Shares issued upon conversion of preferred units (in shares)		65,000
IPO | Class A common stock
Subsidiary, Sale of Stock [Line Items]
Shares issued and sold (in shares)		10,000,000
Shares issued and sold, price per share (in dollars per share) | $ / shares		$ 8
Shares issued and sold, net proceeds | $		$ 86,065
Over-Allotment Option | Class A common stock
Subsidiary, Sale of Stock [Line Items]
Shares issued and sold (in shares)	1,500,000

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 104,212		$ 56,547
Restricted cash	0		1,550
Total cash, cash equivalents, and restricted cash	$ 104,212	$ 25,896	$ 58,097	$ 12,805
Anti-dilutive units excluded from the calculation of earnings per share (in shares)	5,400	17,794

REPORTABLE SEGMENTS AND REVEN_2

REPORTABLE SEGMENTS AND REVENUE (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			1
Number of reportable segments | segment			1
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, net	$ 83,367	$ 25,384	$ 149,504	$ 47,976
Customer loyalty program liability	686		686		$ 219
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, net	97,511	29,001	173,374	55,886
Operating Segments | Retail revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, net	58,038	19,132	103,559	37,986
Operating Segments | Wholesale revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, net	39,473	9,869	69,815	17,900
Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, net	$ (14,144)	$ (3,617)	$ (23,870)	$ (7,910)

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	May 05, 2021	Jun. 30, 2021	Dec. 31, 2020
Hemma
Business Acquisition [Line Items]
Consideration transferred	$ 10,381
Intangible assets	$ 6,928
MOCA | Licenses and permits
Business Acquisition [Line Items]
Intangible assets		$ 9,755	$ 10,661
GCC | Licenses and permits
Business Acquisition [Line Items]
Intangible assets		11,501	11,845
Midway | Licenses and permits
Business Acquisition [Line Items]
Intangible assets		14,684	15,108
Midway | Trade names
Business Acquisition [Line Items]
Intangible assets		$ 180	$ 10

ACQUISITIONS - Schedule of Net

ACQUISITIONS - Schedule of Net Assets Acquired (Details) - USD ($) $ in Thousands	May 05, 2021	Jun. 30, 2021	Dec. 31, 2020
Assets acquired (liabilities assumed):
Goodwill		$ 27,341	$ 22,798
Hemma
Assets acquired (liabilities assumed):
Cash	$ 44
Accounts receivable	41
Inventory	188
Property and equipment	153
Intangible assets	6,928
Goodwill	3,039
Accounts payable and accrued liabilities	(12)
Net assets acquired	10,381
Consideration transferred:
Cash	7,212
Settlement of note and working capital loan	3,169
Total consideration	$ 10,381
Acquired assets, amortization period	10 years
Hemma | Notes Receivable
Consideration transferred:
Settlement of note and working capital loan	$ 2,500
Hemma | Working Capital Loan
Consideration transferred:
Settlement of note and working capital loan	669
Hemma | Sellers' Notes
Consideration transferred:
Sellers' note	$ 4,712

ACQUISITIONS - Schedule of Reve

ACQUISITIONS - Schedule of Revenue and Income from Acquired Businesses (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
MOCA
Disaggregation of Revenue [Line Items]
Revenue, net	$ 11,088	$ 20,994
Net income (loss)	1,188	1,899
GCC
Disaggregation of Revenue [Line Items]
Revenue, net	2,651	5,057
Net income (loss)	(1,431)	(942)
Midway
Disaggregation of Revenue [Line Items]
Revenue, net	5,316	8,579
Net income (loss)	(623)	(905)
Hemma
Disaggregation of Revenue [Line Items]
Revenue, net	0	0
Net income (loss)	$ (101)	$ (101)

ACQUISITIONS - Pro Forma Inform

ACQUISITIONS - Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Revenue, net	$ 83,367		$ 25,384		$ 149,504	$ 47,976
Net income (loss)	$ (44,897)	$ (48,223)	(4,305)	$ (7,118)	$ (93,120)	(11,423)
Revenue, pro forma adjustments			0			0
Net income (loss) pro forma adjustments			(3,371)			(6,794)
Pro forma revenue			32,155			61,663
Pro forma net income (loss)			(6,067)			(14,774)
Pro forma adjustment, additional intangible asset amortization expense			899			1,797
Pro forma adjustment, additional interest expense for sellers' notes			2,534			5,069
Acquisition-related costs			62			72
MOCA
Business Acquisition [Line Items]
Revenue, net			3,357			7,035
Net income (loss)			961			2,021
Pro forma adjustment, additional intangible asset amortization expense			244			488
GCC
Business Acquisition [Line Items]
Revenue, net			996			2,011
Net income (loss)			177			515
Pro forma adjustment, additional intangible asset amortization expense			288			575
Midway
Business Acquisition [Line Items]
Revenue, net			2,418			4,641
Net income (loss)			471			907
Pro forma adjustment, additional intangible asset amortization expense			$ 367			$ 734

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Inventory Disclosure [Abstract]
Materials and supplies	$ 19,126		$ 19,126		$ 7,756
Work in process	16,788		16,788		13,615
Finished goods	11,185		11,185		7,626
Total	47,099		47,099		28,997
Compensation costs capitalized during the period	8,157	$ 3,201	14,520	$ 6,599
Capitalized compensation costs included in inventory	$ 7,055		$ 7,055		$ 5,909

NOTES RECEIVABLE (Details)

NOTES RECEIVABLE (Details) - USD ($)	May 05, 2021	Feb. 28, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment of notes receivable			$ 0	$ 0
Hemma
Accounts, Notes, Loans and Financing Receivable [Line Items]
Settlement of note and working capital loan	$ 3,169,000
MedMen NY, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Working capital line of credit, maximum borrowing amount		$ 10,000,000
Working capital line of credit, maximum borrowing amount if amended		$ 17,500,000
Period due following investment agreement termination		3 days
Working Capital Loan | Hemma
Accounts, Notes, Loans and Financing Receivable [Line Items]
Settlement of note and working capital loan	$ 669,000
Working Capital Loan | MedMen NY, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes and working capital receivables			1,172,000
Promissory Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Promissory note receivable			4,413,000		$ 4,473,000
Promissory note receivable, current			153,000		151,000
Promissory note receivable, noncurrent			$ 4,260,000		$ 4,322,000

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 195,486		$ 195,486		$ 127,079
Less: accumulated depreciation	13,000		13,000		6,539
Property and equipment, net	182,486		182,486		120,540
Depreciation	3,509	$ 1,053	6,461	$ 2,037
Depreciation capitalized during the period	2,378	$ 946	4,334	$ 1,841
Inventory, depreciation costs	2,002		2,002		602
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	80,401		80,401		33,931
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	42,486		42,486		38,561
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	38,614		38,614		28,554
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	32,983		32,983		25,139
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,002		$ 1,002		$ 894

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Variable Interest Entity [Line Items]
Current assets	$ 189,398				$ 189,398		$ 134,178
Other noncurrent assets	21,843				21,843		12,734
Current liabilities	110,224				110,224		115,285
Equity (deficit) attributable to AWH	189,320				189,320		$ 3,786
Revenue, net	83,367		$ 25,384		149,504	$ 47,976
Net income attributable to non-controlling interests	0		737		0	1,097
Net income (loss) attributable to AWH	(44,897)		(5,042)		(93,120)	(12,520)
Net income (loss)	(44,897)	$ (48,223)	(4,305)	$ (7,118)	(93,120)	(11,423)
Ascend Michigan
Variable Interest Entity [Line Items]
Ownership interest percentage							99.90%
Variable Interest Entity, Primary Beneficiary | Ascend Michigan
Variable Interest Entity [Line Items]
Equity (deficit) attributable to AWH							$ (23,822)
Variable Interest Entity, Primary Beneficiary | Ascend Illinois
Variable Interest Entity [Line Items]
Current assets	70,278				70,278		54,787
Other noncurrent assets	162,954				162,954		151,449
Current liabilities	71,757				71,757		62,508
Noncurrent liabilities	127,944				127,944		134,792
Equity (deficit) attributable to AWH	16,398				16,398		9,322
Revenue, net	68,083		21,912		122,821	42,969
Net income attributable to non-controlling interests	0		737		0	1,097
Net income (loss) attributable to AWH	9,329		2,949		16,423	4,387
Net income (loss)	$ 9,329		3,686		$ 16,423	5,484
Variable Interest Entity, Primary Beneficiary | Ascend Michigan
Variable Interest Entity [Line Items]
Current assets							11,355
Other noncurrent assets							58,516
Current liabilities							5,553
Noncurrent liabilities							$ 37,809
Revenue, net			1,703			3,238
Net income attributable to non-controlling interests			0			0
Net income (loss) attributable to AWH			(3,514)			(8,094)
Net income (loss)			$ (3,514)			$ (8,094)

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 65,485,000		$ 65,485,000		$ 60,061,000
Accumulated amortization	(12,972,000)		(12,972,000)		(9,600,000)
Total intangible assets, net	52,513,000		52,513,000		50,461,000
Amortization expense	1,687,000	$ 1,866,000	3,372,000	$ 3,745,000
Amortization expense capitalized to inventory during the period	348,000	$ 4,000	610,000	21,000
Inventory, capitalized amortization	472,000		472,000		564,000
Intangible asset impairment			0	$ 0
Hemma
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	6,928,000		6,928,000
Licenses and permits
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	45,142,000		45,142,000		39,888,000
Accumulated amortization	(3,132,000)		(3,132,000)		(1,080,000)
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	19,963,000		19,963,000		19,963,000
Accumulated amortization	(9,460,000)		(9,460,000)		(8,362,000)
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	380,000		380,000		210,000
Accumulated amortization	$ (380,000)		$ (380,000)		$ (158,000)

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance, December 31, 2020	$ 22,798
Acquisitions	3,039
Adjustments to purchase price allocation	1,504
Balance, June 30, 2021	$ 27,341

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 29, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Capitalized lease costs	$ 3,608		$ 4,913
Weighted average remaining lease term	16 years 4 months 24 days		17 years 3 months 18 days
Weighted average discount rate	13.20%		13.10%
Operating lease not yet commenced, right-of-use asset	$ 1,100
Operating lease not yet commenced, liability	$ 1,100
Commercial property sale agreement price		$ 350
Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	20 years

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Lease assets
Operating lease right-of-use assets	$ 101,731	$ 84,642
Lease liabilities
Operating lease liabilities, current	2,206	2,128
Operating lease liabilities, noncurrent	174,489	156,400
Total lease liabilities	$ 176,695	$ 158,528

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 5,930	$ 4,320	$ 11,704	$ 6,380
General and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease costs	1,310	1,028	2,590	1,827
Capitalized to inventory
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 4,620	$ 3,292	$ 9,114	$ 4,553

LEASES - Short-term and Variabl

LEASES - Short-term and Variable Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Total short-term and variable lease costs	$ 174	$ 578	$ 826	$ 1,184

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 10,568	$ 5,038
Lease assets obtained in exchange for new operating lease liabilities	$ 17,759	$ 64,757

LEASES - Lease Liability Maturi

LEASES - Lease Liability Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Remainder of 2021	$ 11,589
2022	23,923
2023	24,602
2024	25,301
2025	26,032
Thereafter	343,309
Total lease payments	454,756
Less: imputed interest	278,061
Present value of lease liabilities	$ 176,695	$ 158,528

LEASES - Financing Liability Ma

LEASES - Financing Liability Maturity (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 1,020
2022	2,082
2023	2,143
2024	2,206
2025	2,271
Thereafter	9,149
Total	$ 18,871

DEBT - Components of Debt (Deta

DEBT - Components of Debt (Details) $ / shares in Units, shares in Thousands	May 04, 2021$ / sharesshares	Apr. 22, 2021USD ($)$ / shares	Jan. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	May 05, 2021USD ($)	Dec. 31, 2020USD ($)	Oct. 31, 2020USD ($)
Debt Instrument [Line Items]
Total debt				$ 131,643,000			$ 215,029,000
Current portion of debt				25,053,000			60,357,000
Less: unamortized deferred financing costs				997,000			1,027,000
Current portion of debt, net				24,056,000			59,330,000
Long-term debt				106,590,000			154,672,000
Less: unamortized deferred financing costs				1,860,000			2,395,000
Long-term debt, net				104,730,000			152,277,000
Repayments of debt				2,071,000	$ 15,317,000
Class A common stock
Debt Instrument [Line Items]
Shares issued upon conversion of convertible notes (in shares) | shares	37,388
Capital Construction Loan
Debt Instrument [Line Items]
Total debt				11,624,000			11,624,000
AWH Convertible Promissory Notes
Debt Instrument [Line Items]
Total debt				0			75,484,000
Convertible debt, discount if offering occurs within 12 months of closing date		20.00%
Convertible debt, discount if offering occurs after 12 months of closing date		25.00%
Company valuation		$ 295,900,000
Company valuation per share (in dollars per share) | $ / shares		$ 2.96
Shares issued upon conversion of convertible notes (in shares) | shares	28,478
Convertible promissory notes, period outstanding under which twelve months interest is due at conversion		12 months
AWH Convertible Promissory Notes | Affiliated Entity
Debt Instrument [Line Items]
Total debt		$ 1,000,000
July 2019 Notes
Debt Instrument [Line Items]
Total debt				10,000,000			10,000,000
Ann Arbor Note
Debt Instrument [Line Items]
Total debt				4,750,000			5,250,000
October 2020 Credit Facility
Debt Instrument [Line Items]
Total debt				25,885,000			25,260,000
Maximum borrowing capacity								$ 38,000,000
Debt covenant, minimum cash balance requirement				$ 5,000,000
Debt covenant, minimum cash to consolidated fixed charge ratio				2
October 2020 Credit Facility | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity								25,000,000
October 2020 Credit Facility | Delayed Draw Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 13,000,000
NJ Term Loan
Debt Instrument [Line Items]
Total debt				$ 20,000,000			20,000,000
Debt covenant, maximum debt to assets ratio				0.70
NJ Real Estate Loan
Debt Instrument [Line Items]
Total debt				$ 4,500,000			4,500,000
Sellers' Notes
Debt Instrument [Line Items]
Total debt				37,755,000			45,782,000
Long-term debt, net				37,770,000
Sellers' Notes | MOCA
Debt Instrument [Line Items]
Repayments of debt			$ 11,174,000
Sellers' Notes | Midway
Debt Instrument [Line Items]
Total debt				25,200,000			25,200,000
Current portion of debt, net				17,200,000			17,200,000
Long-term debt, net				8,000,000			8,000,000
Sellers' Notes | Noncontrolling Interest Acquired
Debt Instrument [Line Items]
Current portion of debt, net				3,141,000			3,140,000
Long-term debt, net				4,702,000			6,268,000
Long-term debt, net				7,843,000
Sellers' Notes | Hemma
Debt Instrument [Line Items]
Sellers' note						$ 4,712,000
Interest rate						12.00%
Finance liabilities
Debt Instrument [Line Items]
Total debt				$ 17,129,000			$ 17,129,000
2019 AWH Convertible Notes
Debt Instrument [Line Items]
Conversion price (in dollars per share) | $ / shares		$ 2.96
2019 AWH Convertible Notes | Class A common stock
Debt Instrument [Line Items]
Conversion price (in dollars per share) | $ / shares	$ 2.96

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands	May 04, 2021	Jan. 31, 2021	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Repayments of debt				$ 2,071,000	$ 15,317,000
Class A common stock
Debt Instrument [Line Items]
Shares issued upon conversion of convertible notes (in shares)	37,388
2021 AWH Convertible Promissory Notes
Debt Instrument [Line Items]
Notes issued		$ 49,500,000
Convertible debt, discount if IPO occurs within 12 months of note issuance		20.00%
Convertible debt, discount if IPO occurs after 12 months of debt issuance but before debt maturity		25.00%
Convertible promissory notes, period outstanding under which twelve months interest is due at conversion		12 months
2021 AWH Convertible Promissory Notes | Class A common stock
Debt Instrument [Line Items]
Shares issued upon conversion of convertible notes (in shares)	8,910
Conversion price (in dollars per share)	$ 6
2021 AWH Convertible Promissory Notes | Interest Rate Period One
Debt Instrument [Line Items]
Interest rate		8.00%
2021 AWH Convertible Promissory Notes | Interest Rate Period Two
Debt Instrument [Line Items]
Interest rate		10.00%
2021 AWH Convertible Promissory Notes | Interest Rate Period Three
Debt Instrument [Line Items]
Interest rate		13.00%
HCI sellers' note
Debt Instrument [Line Items]
Repayments of debt			$ 786,000	1,571,000
Term Notes
Debt Instrument [Line Items]
Repayments of debt				500,000
Sellers Note MOCA
Debt Instrument [Line Items]
Repayments of debt				$ 11,174,000

DEBT - Maturities of Debt (Deta

DEBT - Maturities of Debt (Details) $ in Thousands	Jun. 30, 2021USD ($)
Term notes
Debt Instrument [Line Items]
Remainder of 2021	$ 0
2022	4,750
2023	33,250
2024	21,624
2025	20,000
Long-term debt, net	79,624
Sellers' notes
Debt Instrument [Line Items]
Remainder of 2021	23,484
2022	11,143
2023	3,143
2024	0
2025	0
Long-term debt, net	$ 37,770

DEBT - Interest Expense (Detail

DEBT - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Disclosure [Abstract]
Cash interest on notes	$ 3,742	$ 1,705	$ 7,325	$ 3,068
Accretion	5,283	804	8,538	1,663
Non-cash interest related to beneficial conversion feature	27,361	0	27,361	0
Interest on financing liability	502	364	1,001	672
Total	$ 36,888	$ 2,873	$ 44,225	$ 5,403

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) $ / shares in Units, $ in Thousands	May 04, 2021USD ($)$ / sharesshares	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Apr. 22, 2021vote$ / sharesshares	Apr. 14, 2021$ / sharesshares	Dec. 31, 2020shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) | shares		10,000,000		10,000,000		0
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.001		$ 0.001
Common Unit, par value (in dollars per share) | $ / shares		0
Preferred Unit, par value (in dollars per share) | $ / shares		0
Restricted Common Unit, par value (in dollars per share) | $ / shares		$ 0
Payments for repurchase of warrants | $		$ 4,156	$ 0
Weighted average warrant term		2 years 6 months
Intrinsic value of warrants | $		$ 23,835
Warrants with $4.00 exercise price
Class of Stock [Line Items]
Number of warrants (in shares) | shares		3,531,000
Exercise price of warrants (in dollars per share) | $ / shares		$ 4
Grant date fair value of warrants | $		$ 237
Warrants with $3.20 exercise price
Class of Stock [Line Items]
Number of warrants (in shares) | shares					1,094,000
Exercise price of warrants (in dollars per share) | $ / shares					$ 3.20
Payments for repurchase of warrants | $	$ 4,156
Payments for repurchase of warrants, per warrant price (in dollars per share) | $ / shares	$ 7
Minimum | Warrants with $4.00 exercise price
Class of Stock [Line Items]
Grant date fair value per warrant (in dollars per share) | $ / shares		$ 0.02
Maximum | Warrants with $4.00 exercise price
Class of Stock [Line Items]
Grant date fair value per warrant (in dollars per share) | $ / shares		$ 0.10
Class A common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) | shares		750,000,000		750,000,000		0
Common stock, par value (in dollars per share) | $ / shares		$ 0.001		$ 0.001
Number of votes per common share | vote				1
Common stock, shares outstanding (in shares) | shares		168,764,000				0
Class A common stock | 2019 AWH Convertible Notes
Class of Stock [Line Items]
Common stock, shares outstanding (in shares) | shares	28,478,000
Class A common stock | 2021 AWH Convertible Promissory Notes
Class of Stock [Line Items]
Common stock, shares outstanding (in shares) | shares	8,910,000
Class A common stock | Common Units Converted
Class of Stock [Line Items]
Member units, conversion ratio	1
Class A common stock | Real Estate Preferred Units Converted
Class of Stock [Line Items]
Member units, conversion ratio	1
Conversion ratio multiplier	1.5
Shares issued in conversion (in shares) | shares	26,221,000
Class A common stock | Real Estate Preferred Units, Beneficial Conversion Feature
Class of Stock [Line Items]
Shares issued in conversion (in shares) | shares	3,420,000
Stock conversion, beneficial conversion feature charge | $	$ 27,361
Class A common stock | Series Seed+ Preferred Units Converted
Class of Stock [Line Items]
Member units, conversion ratio	1
Class A common stock | IPO
Class of Stock [Line Items]
Share price (in dollars per share) | $ / shares	$ 8
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) | shares		100,000		100,000		0
Common stock, par value (in dollars per share) | $ / shares		$ 0.001		$ 0.001
Number of votes per common share | vote				1,000
Stock conversion ratio				1
Common stock, shares outstanding (in shares) | shares		65,000				0
Class B common stock | Common Units Converted
Class of Stock [Line Items]
Common stock, shares outstanding (in shares) | shares	65,000

EQUITY - Schedule of Shares Out

EQUITY - Schedule of Shares Outstanding (Details) shares in Thousands	Jun. 30, 2021shares
Class of Stock [Line Items]
Common stock shares outstanding (in shares)	168,829
Class A common stock
Class of Stock [Line Items]
Common stock shares outstanding (in shares)	168,764
Class B common stock
Class of Stock [Line Items]
Common stock shares outstanding (in shares)	65

EQUITY - Schedule of Units Outs

EQUITY - Schedule of Units Outstanding (Details) - shares	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Common units outstanding (in shares)	0	107,165,000	106,082,000
Historical common units
Class of Stock [Line Items]
Common units outstanding (in shares)		49,130,000	48,047,000
Real Estate Preferred Units
Class of Stock [Line Items]
Common units outstanding (in shares)		22,801,000	22,801,000
Series Seed Preferred Units
Class of Stock [Line Items]
Common units outstanding (in shares)		14,252,000	14,252,000
Series Seed+ Preferred Units
Class of Stock [Line Items]
Common units outstanding (in shares)		20,982,000	20,982,000

EQUITY-BASED COMPENSATION EXP_3

EQUITY-BASED COMPENSATION EXPENSE - Narrative (Details) - USD ($) shares in Thousands, $ in Thousands	May 04, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jul. 31, 2021	Nov. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of awards to be issued (in shares)							10,031
Awards issued to date (in shares)		9,994		9,994
Restricted award exercise period following IPO				6 months
Equity-based compensation expense, cost not yet recognized, period for recognition				7 months 6 days
2021 Plan | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock reserved for issuance under equity incentive plan (in shares)						17,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Restricted Common Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		$ 1,711		$ 4,198
Equity-based compensation, accelerated vesting expense	$ 733
Equity-based compensation expense, cost not yet recognized		$ 432		$ 432
Previous Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense			$ 85		$ 270
Employee Stock Purchase Plan | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock reserved for issuance under equity incentive plan (in shares)						4,000

EQUITY-BASED COMPENSATION EXP_4

EQUITY-BASED COMPENSATION EXPENSE - Restricted Common Unit Activity (Details) - Restricted Common Stock Units shares in Thousands	6 Months Ended
	Jun. 30, 2021shares
Restricted Common Shares
Unvested, beginning balance (in shares)	7,280
Granted (in shares)	50
Vested (in shares)	(5,364)
Forfeited (in shares)	(96)
Unvested, ending balance (in shares)	1,870

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Gross profit	$ 34,516	$ 12,178	$ 64,183	$ 19,670
Income tax expense	$ 11,995	$ 3,632	$ 20,971	$ 6,069
Effective tax rate on gross profit	34.80%	29.80%	32.70%	30.90%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Legal Settlement (Details) shares in Thousands, $ in Thousands	Apr. 14, 2021USD ($)propertyshares	Jan. 28, 2021property	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)shares
Loss Contingencies [Line Items]
Settlement expense			$ 0	$ 0	$ 36,511	$ 0
TVP Parties Matter
Loss Contingencies [Line Items]
Potential common units awarded (in shares) | shares							4,770
Estimate of possible loss							$ 16,500
Number of properties to be acquired alleged not to be sustainable | property		3
Number of properties to be acquired | property	3	6
Settlement amount	$ 9,000
Settlement amount, additional cash payment	5,480
Amount not payable under agreements	$ 2,000
Common units awarded (in shares) | shares	4,770
Common units awarded, value	$ 26,041
Number of properties that remain suitable for original business purpose | property	3
Put option, term	3 years
Properties to be acquired	$ 5,400
Settlement expense					36,511
TVP Parties Matter | Accounts payable and accrued expenses
Loss Contingencies [Line Items]
Settlement liability			5,480		5,480
TVP Parties Matter | Stockholders’ Equity
Loss Contingencies [Line Items]
Settlement liability			$ 27,431		$ 27,431
TVP Parties Matter | Those not a party to litigation matter
Loss Contingencies [Line Items]
Common units awarded (in shares) | shares	255
Common units awarded, value	$ 1,390

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Shareholder Dispute (Details) - USD ($) $ / shares in Units, $ in Thousands	May 28, 2021	Apr. 22, 2021
Shareholder Litigation Matter
Loss Contingencies [Line Items]
Loss contingency, damages sought, value (in excess of)	$ 20,000
2019 AWH Convertible Notes
Loss Contingencies [Line Items]
Percentage of convertible noteholders that approved amendment of terms		66.00%
Conversion price (in dollars per share)		$ 2.96

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Other Transactions and Investments (Details) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2020	Jun. 30, 2021	Feb. 25, 2021
Other Commitments [Line Items]
Total debt	$ 215,029	$ 131,643
MedMen NY, Inc.
Other Commitments [Line Items]
Ownership interest percentage			86.70%
Assumed debt | MedMen NY, Inc.
Other Commitments [Line Items]
Commitment			$ 73,000
MedMen NY, Inc.
Other Commitments [Line Items]
Commitment			73,000
MedMen NY, Inc. | MedMen NY Promissory Note
Other Commitments [Line Items]
Total debt			28,000
MedMen NY, Inc. | Cash investment
Other Commitments [Line Items]
Commitment			35,000
MedMen NY, Inc. | Additional investment amount
Other Commitments [Line Items]
Commitment			$ 10,000
BCCO, LLC | Cash consideration
Business Acquisition [Line Items]
Consideration transferred	3,500
BCCO, LLC | Note receivable and working capital loan consideration
Business Acquisition [Line Items]
Consideration transferred	$ 3,460

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	May 04, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
General and administrative expenses	$ 30,612,000	$ 9,975,000	$ 92,269,000	$ 19,624,000
Accounts payable and accrued liabilities	47,212,000		47,212,000			$ 31,224,000
Affiliated Entity
Related Party Transaction [Line Items]
Quarterly management fee			$ 100,000
Management agreement termination fee					$ 2,000,000
Change of control, lock-up agreement term			360 days
General and administrative expenses	2,024,000	$ 100,000	$ 2,124,000	$ 200,000
Accounts payable and accrued liabilities	$ 2,024,000		$ 2,024,000			$ 100,000

SUPPLEMENTAL FINANCIAL INFORM_3

SUPPLEMENTAL FINANCIAL INFORMATION - Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Tenant improvement allowance	$ 14,292	$ 24,349
Deposits and other receivables	4,666	4,021
Prepaid expenses	4,247	2,311
Construction deposits	1,582	712
Other	1,688	1,205
Total	$ 26,475	$ 32,598

SUPPLEMENTAL FINANCIAL INFORM_4

SUPPLEMENTAL FINANCIAL INFORMATION - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable	$ 15,894	$ 7,363
Fixed asset purchases	13,734	11,572
Litigation settlement	5,480	0
Accrued interest	3,544	7,723
Accrued payroll and related expenses	2,462	2,762
Other	6,098	1,804
Total	$ 47,212	$ 31,224

SUPPLEMENTAL FINANCIAL INFORM_5

SUPPLEMENTAL FINANCIAL INFORMATION - General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Compensation	$ 13,654	$ 2,809	$ 23,706	$ 5,274
Professional services	5,870	1,450	9,787	2,907
Rent and utilities	4,213	2,665	9,646	5,433
Depreciation and amortization	2,470	1,969	4,889	3,920
Insurance	1,176	358	2,038	568
Marketing	871	224	1,405	625
Loss on sale of assets	0	286	0	286
Other	2,358	214	4,287	611
Total	$ 30,612	$ 9,975	$ 55,758	$ 19,624