Ayr Wellness Inc. Financials
Ayr Wellness Inc. (AYRWF) reported $463.6M in revenue for fiscal year 2024. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Flat revenue is no longer enough because weaker gross profit and a heavier interest burden are consuming the business.
Between FY2023 and FY2024, revenue stayed flat near$463.6M while gross profit fell to$176.7M , showing the setback came from weaker unit economics rather than demand. At the same time, interest expense climbed to$78.3M even as operating cash flow remained positive at$9.6M , so basic operations still produced cash but financing costs and reinvestment prevented that cash from repairing equity.
Inventory-heavy working capital is tying up liquidity: inventory at
The company looks less squeezed short term than the cash balance alone suggests, with a current ratio of 1.6x despite only
Financial Health Signals
Ayr Wellness Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Ayr Wellness Inc. scores -1.25, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($432K) relative to total liabilities ($904.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ayr Wellness Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Ayr Wellness Inc. reported a net loss of $359.3M while generating $9.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Ayr Wellness Inc. reported an operating loss of $161.0M against $78.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ayr Wellness Inc. generated $463.6M in revenue in fiscal year 2024. That is unchanged from the prior year.
Ayr Wellness Inc.'s EBITDA was -$132.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2654.8% from the prior year.
Ayr Wellness Inc. reported -$359.3M in net income in fiscal year 2024. This represents a decrease of 31.9% from the prior year.
Ayr Wellness Inc. earned -$3.24 per diluted share (EPS) in fiscal year 2024. This represents an increase of 12.0% from the prior year.
Cash & Balance Sheet
Ayr Wellness Inc. recorded an outflow of $8.1M in free cash flow in fiscal year 2024, representing a cash shortfall after capex. This represents a decrease of 1419.5% from the prior year.
Ayr Wellness Inc. held $35.5M in cash against $385.6M in long-term debt as of fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Ayr Wellness Inc.'s gross margin was 38.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 5.5 percentage points from the prior year.
Ayr Wellness Inc.'s operating margin was -34.7% in fiscal year 2024, reflecting core business profitability. This is down 26.7 percentage points from the prior year.
Ayr Wellness Inc.'s net profit margin was -77.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 18.7 percentage points from the prior year.
Ayr Wellness Inc.'s ROE was -94.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 47.8 percentage points from the prior year.
Capital Allocation
Ayr Wellness Inc. invested $17.7M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 36.0% from the prior year.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
AYRWF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | $463.6M0.0% | $463.6M+10.0% | $421.4M |
| Cost of Revenue | $287.0M+9.9% | $261.2M+6.0% | $246.5M |
| Gross Profit | $176.7M-12.7% | $202.4M+15.7% | $175.0M |
| SG&A Expenses | $167.1M-6.0% | $177.8M-16.3% | $212.5M |
| Operating Income | -$161.0M-333.7% | -$37.1M+82.1% | -$207.3M |
| Interest Expense | $78.3M+98.6% | $39.4M+39.1% | $28.3M |
| Income Tax | $43.3M-8.7% | $47.4M+5.9% | $44.7M |
| Net Income | -$359.3M-31.9% | -$272.4M-11.0% | -$245.5M |
| EPS (Diluted) | -$3.24+12.0% | -$3.68-2.8% | -$3.58 |
Not reported in any period shown, so not listed: R&D Expenses.
AYRWF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | $1.3B-13.1% | $1.5B-17.4% | $1.8B |
| Current Assets | $175.2M-16.0% | $208.6M-54.0% | $453.7M |
| Cash & Equivalents | $35.5M-30.1% | $50.8M-33.9% | $76.8M |
| Inventory | $112.6M+6.1% | $106.1M+6.3% | $99.8M |
| Accounts Receivable | $13.2M-2.0% | $13.5M+74.3% | $7.7M |
| Goodwill | $0-100.0% | $94.1M0.0% | $94.1M |
| Total Liabilities | $904.3M+1.7% | $889.2M-4.6% | $932.4M |
| Current Liabilities | $109.3M-45.7% | $201.2M-25.2% | $268.8M |
| Long-Term Debt | $385.6M-6.2% | $411.3M+201.7% | $136.3M |
| Total Equity | $379.5M-34.8% | $581.8M-30.2% | $833.3M |
| Retained Earnings | -$1.1B-45.9% | -$783.1M-53.3% | -$510.7M |
AYRWF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY24 | FY23 | FY22 |
|---|---|---|---|
| Operating Cash Flow | $9.6M-64.5% | $27.2M+179.5% | -$34.2M |
| Capital Expenditures | $17.7M-36.0% | $27.7M-52.9% | $58.8M |
| Free Cash Flow | -$8.1M-1419.5% | -$532K+99.4% | -$93.0M |
| Investing Cash Flow | -$21.8M+9.7% | -$24.2M+63.7% | -$66.5M |
| Financing Cash Flow | -$3.1M+90.6% | -$32.9M-222.0% | $27.0M |
| Share Buybacks | N/A | N/A | $8.4M |
Not reported in any period shown, so not listed: Dividends Paid.
AYRWF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY24 | FY23 | FY22 |
|---|---|---|---|
| Gross Margin | 38.1%-5.5pp | 43.7%+2.1pp | 41.5% |
| Operating Margin | -34.7%-26.7pp | -8.0%+41.2pp | -49.2% |
| Net Margin | -77.5%-18.7pp | -58.8%-0.5pp | -58.3% |
| Return on Equity | -94.7%-47.8pp | -46.8%-17.4pp | -29.5% |
| Return on Assets | -28.3%-9.7pp | -18.7%-4.8pp | -13.9% |
| Current Ratio | 1.60+0.6x | 1.04-0.7x | 1.69 |
| Debt-to-Equity | 1.02+0.3x | 0.71+0.5x | 0.16 |
| FCF Margin | -1.7%-1.6pp | -0.1%+22.0pp | -22.1% |
Similar Companies
Where Ayr Wellness Inc. Ranks
Frequently Asked Questions
What is Ayr Wellness Inc.'s annual revenue?
Ayr Wellness Inc. (AYRWF) reported $463.6M in total revenue for fiscal year 2024. That is unchanged from the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ayr Wellness Inc.'s revenue growing?
Ayr Wellness Inc. (AYRWF) revenue was essentially unchanged year-over-year, at $463.6M in fiscal year 2024 against $463.6M the year before.
Is Ayr Wellness Inc. profitable?
No, Ayr Wellness Inc. (AYRWF) reported a net income of -$359.3M in fiscal year 2024, with a net profit margin of -77.5%.
What is Ayr Wellness Inc.'s EBITDA?
Ayr Wellness Inc. (AYRWF) had EBITDA of -$132.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ayr Wellness Inc. have?
As of fiscal year 2024, Ayr Wellness Inc. (AYRWF) had $35.5M in cash and equivalents against $385.6M in long-term debt.
What is Ayr Wellness Inc.'s gross margin?
Ayr Wellness Inc. (AYRWF) had a gross margin of 38.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ayr Wellness Inc.'s operating margin?
Ayr Wellness Inc. (AYRWF) had an operating margin of -34.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Ayr Wellness Inc.'s net profit margin?
Ayr Wellness Inc. (AYRWF) had a net profit margin of -77.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Ayr Wellness Inc.'s return on equity (ROE)?
Ayr Wellness Inc. (AYRWF) has a return on equity of -94.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Ayr Wellness Inc.'s free cash flow?
Ayr Wellness Inc. (AYRWF) recorded an outflow of $8.1M in free cash flow during fiscal year 2024. This represents a -1419.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ayr Wellness Inc.'s operating cash flow?
Ayr Wellness Inc. (AYRWF) generated $9.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Ayr Wellness Inc.'s total assets?
Ayr Wellness Inc. (AYRWF) had $1.3B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Ayr Wellness Inc.'s capital expenditures?
Ayr Wellness Inc. (AYRWF) invested $17.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Ayr Wellness Inc.'s current ratio?
Ayr Wellness Inc. (AYRWF) had a current ratio of 1.60 as of fiscal year 2024, which is generally considered healthy.
What is Ayr Wellness Inc.'s debt-to-equity ratio?
Ayr Wellness Inc. (AYRWF) had a debt-to-equity ratio of 1.02 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ayr Wellness Inc.'s return on assets (ROA)?
Ayr Wellness Inc. (AYRWF) had a return on assets of -28.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Ayr Wellness Inc.'s Altman Z-Score?
Ayr Wellness Inc. (AYRWF) has an Altman Z-Score of -1.25, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ayr Wellness Inc.'s Piotroski F-Score?
Ayr Wellness Inc. (AYRWF) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ayr Wellness Inc.'s earnings high quality?
Ayr Wellness Inc. (AYRWF) reported a net loss of $359.3M while generating $9.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ayr Wellness Inc. cover its interest payments?
Ayr Wellness Inc. (AYRWF) reported an operating loss of $161.0M against $78.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.