Ayr Wellness Inc. Stock Price, News & Analysis

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) announced the opening of its flagship dispensary, AYR in Back Bay, Boston, on July 2, 2022. This location marks Ayr's first adult-use retail sales in Massachusetts. Situated at 827 Boylston St., near major attractions like the Apple Store, it aims to benefit from high foot traffic. Ayr offers a variety of cannabis products, including its Kynd premium flower and Wicked edibles. The company also received a license to open a second dispensary in Watertown, planned for July 2022.

Ayr Wellness Inc. (OTCQX: AYRWF) has opened its 48th Florida dispensary in Longwood, expanding its retail presence in the state. The new 2,300+ sq. ft. facility features a drive-thru and offers a full range of products, including concentrates, edibles, and premium flower. Since acquiring Liberty Health Sciences in 2021, Ayr has launched 17 new stores in Florida. The state boasts approximately 730,000 medical marijuana patients and generated over $1.8 billion in cannabis revenue in 2021, with projections reaching $3.4 billion annually by 2026.

Ayr Wellness Inc. (OTCQX: AYRWF) announced the opening of three adult-use cannabis dispensaries in New Jersey on June 15, 2022. Located in Woodbridge, Union, and Eatontown, these stores are part of Ayr’s strategy to expand its retail presence in a densely populated region of 3.4 million people. The company aims to capture market share, as adult-use sales in New Jersey reached $24 million in the first month. Ayr operates these dispensaries under the Garden State Dispensary brand and is positioned to benefit from the overall projected growth in legal cannabis sales, estimated to reach $2.3 billion annually by 2026.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has received a final license from the Massachusetts Cannabis Control Commission to sell adult-use cannabis at its Watertown dispensary in Greater Boston, approved on June 9, 2022. This license allows Ayr to operate two adult-use dispensaries in the area, enhancing cannabis access in a historically underserved market. Ayr aims to provide high-quality products and a unique customer experience, while also engaging positively with the Watertown community. The company is committed to further regulatory approvals for additional locations in Greater Boston.

Ayr Wellness reported Q1 2022 revenue of $111.2 million, a 90% increase year-over-year. Adjusted EBITDA rose 6% to $19.5 million. However, the company faced a US GAAP operating loss of $21.1 million, compared to $8.4 million in Q1 2021. Ayr received final approval for adult-use cannabis sales in New Jersey and Boston, expected to launch in June. The company aims for a run-rate of $250 million adjusted EBITDA by Q4 2022, backed by recent investments and acquisitions.

Ayr Wellness has successfully completed its acquisition of Herbal Remedies Dispensaries, LLC, which operates two licensed retail dispensaries in Quincy, Illinois. This strategic move enhances Ayr's presence in the growing Illinois adult-use cannabis market. The acquisition was approved by the Illinois Department of Financial and Professional Regulation on May 11, 2022. Ayr, a vertically integrated multi-state cannabis operator, aims to leverage Herbal Remedies’ established market position to deliver exceptional cannabis experiences as the Illinois market continues to evolve.

Ayr Wellness Inc. (OTCQX: AYRWF) announced approval for adult-use cannabis sales in New Jersey, allowing its three dispensaries in Central Jersey to serve this market. Until now, the area had limited access to adult-use cannabis, with only two dispensaries available. Ayr's entry into the adult-use market comes as New Jersey is projected to generate $2.3 billion in legal cannabis sales by 2026, positioning itself as a significant player in the U.S. cannabis industry.

Ayr Wellness has announced the launch of sales from its new cultivation facility in Phoenix, Arizona, marking a significant operational milestone. The 80,000 sq. ft. facility began operations in December 2021 and has yielded around 75 g/sq. ft. from 22 strains. Ayr also launched its STiX Pre-Roll brand in Arizona, featuring popular strains in both conventional and infused pre-rolls. The new offerings aim to enhance the Kynd brand presence in the state while allowing Ayr to meet growing demand as feedback from wholesale partners has been overwhelmingly positive.

Ayr Wellness announced that the Massachusetts Cannabis Control Commission granted a final license for the sale of adult-use cannabis at its Back Bay dispensary in Boston. This marks the first adult-use dispensary in one of Boston's most desirable neighborhoods. CEO Jonathan Sandelman highlighted the location's proximity to high-traffic areas, expecting it to be a major retail site. Ayr has executed Host Community Agreements with Boston and plans to open the dispensary in June 2022, while aiming for final approvals for two additional locations in Greater Boston.