Welcome to our dedicated page for Ayr Wellness news (Ticker: AYRWF), a resource for investors and traders seeking the latest updates and insights on Ayr Wellness stock.
AYR Wellness Inc. (AYRWF) is a vertically integrated cannabis operator with multi-state retail dispensaries and proprietary cannabis products. This page serves as the definitive source for official company announcements and market-relevant developments.
Investors and industry observers will find curated press releases covering regulatory milestones, earnings reports, and retail expansions. Our aggregation ensures efficient tracking of operational updates across AYR's cultivation, manufacturing, and distribution networks.
Content spans licensing achievements, product portfolio enhancements, and compliance initiatives critical to understanding this cannabis operator's positioning. Bookmark this resource for streamlined monitoring of AYR's progress in evolving markets.
AYR Wellness has announced the expansion of its Later Days brand with a new line of fruit-flavored vapes, available in Massachusetts, New Jersey, Nevada, and Ohio starting November 25th. The collection features five flavors: Sweet Strawberry, Juicy Mango, Frozen Watermelon, Winter Mint, and Georgia Peach. The compact disposables include a 280mAh battery, USB-C charging port, and oil window. Initially available in 1g size across all states, with 2g size launching in New Jersey and Massachusetts in early 2025.
AYR Wellness reported Q3 2024 financial results showing revenue of $114.3M, down 0.1% year-over-year and 2.6% quarter-over-quarter. The company faced macroeconomic pressures and increased competition, though this was partially offset by adult-use sales launch in Ohio. Despite lower revenue, Adjusted EBITDA improved to $26.1M with a 22.9% margin. The company expanded operations in Ohio, received conditional approval in Virginia, and entered Connecticut market. Management expects Q4 revenue and Adjusted EBITDA to remain flat compared to Q3, while maintaining positive GAAP cash flow forecast for 2024.
AYR Wellness (OTCQX: AYRWF) announced that Amethyst Health, a partnership between Black Star Wellness and AYR, has been conditionally awarded a vertically integrated medical cannabis 'Registered Organization' license in New York State. Black Star Wellness is the majority owner of Amethyst Health, while AYR serves as an operational partner and minority owner. The company's Interim CEO Steven M. Cohen expressed enthusiasm about entering New York's growing cannabis market and committed to working with state regulators and Black Star Wellness to complete final requirements.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), a leading vertically integrated U.S. multi-state cannabis operator, has announced it will hold a conference call on Wednesday, November 13, 2024, at 8:30 a.m. ET to discuss results for the third quarter ended September 30, 2024. The call will be hosted by Interim CEO Steven Cohen and CFO Brad Asher, followed by a question-and-answer period.
Financial results will be provided in a press release prior to the call. Participants can join via toll-free dial-in at (844) 763-8274 or international dial-in at (647) 484-8814. A webcast link will also be available. A telephonic replay will be accessible for one month until December 13, 2024.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), a leading vertically integrated U.S. multi-state cannabis operator, has announced significant changes in its management. Effective September 18, 2024, David Goubert has stepped down from his roles as President and Chief Executive Officer. Goubert had served as President since October 12, 2022, and as CEO since February 13, 2023.
In response to this departure, the Board of Directors has appointed Steven M. Cohen as Interim Chief Executive Officer, effective immediately. Cohen previously served as an outside legal advisor to the company. The Board has stated that it will initiate a search for a permanent CEO in due course.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has secured conditional approval from the Virginia Cannabis Control Authority to operate as a pharmaceutical processor in Virginia's Health Service Area 1 (HSA 1). This area includes cities like Charlottesville and Fredericksburg, serving a population of approximately 1.5 million people.
The approval marks a significant step for AYR in expanding its medical cannabis operations into Virginia, a market that has previously lacked access to medical cannabis. David Goubert, President & CEO of AYR, expressed pride in this opportunity, viewing it as a reflection of the company's efforts to build a sustainable business and expand its footprint in the U.S. cannabis market.
AYR Cannabis Dispensary, owned by AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), has announced the expansion of its retail footprint in Florida. The company opened a new store in Jacksonville on August 22, 2024, and plans to open another in Palm Beach Gardens in early September 2024. These additions will bring AYR's total retail presence to 66 locations in Florida and 96 nationwide.
The Jacksonville-Dunn store is a 2,808-square-foot facility with drive-thru service, while the Palm Beach Gardens location will be a 3,638-square-foot storefront near Gardens Mall. Both dispensaries will offer premium products and quality service to medical patients, featuring modern designs and dedicated team members to ensure a comfortable shopping experience.
AYR Cannabis Dispensary has opened its first retail location in Connecticut, marking its 94th nationwide store. The Manchester dispensary, which began operations on August 16, 2024, is a partnership with local attorney Tiana Hercules through Connecticut Cultivation Solutions. This venture combines Hercules' local expertise with AYR's multi-state operational experience.
The 1,600-square-foot storefront offers both in-store and drive-thru services, catering to adult-use consumers and medical patients. Located near Interstate 384, it serves Manchester and nearby towns lacking licensed retail locations. The dispensary aims to be a force for good in the community, engaging in social initiatives such as expungement clinics and supporting educational programs.
This expansion represents AYR's commitment to growth and community impact in the cannabis industry, with a focus on serving areas disproportionately affected by cannabis prohibition.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) reported its Q2 2024 financial results. Key highlights include:
- Revenue of $117.3 million, up 0.5% year-over-year but down 0.6% quarter-over-quarter
- Adjusted EBITDA of $25.7 million, down 12.6% year-over-year and 11.7% quarter-over-quarter
- Adjusted EBITDA margin of 21.9%, down 330 basis points year-over-year
The company faced challenges due to wholesale pricing pressure, consumer spending tightening, and margin pressure in select markets. However, AYR remains focused on operational improvements and is positioning for growth in adult-use markets in Ohio, Florida, and Pennsylvania. The company expects low to mid-single digit revenue growth in Q3 and improved Adjusted EBITDA margins in the second half of 2024.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has launched adult-use cannabis sales in Ohio. Customers aged 21 and over with valid government-issued ID can now shop at AYR Dispensaries in Woodmere, Goshen, and Dayton. This expansion follows Ohio's passage of Issue 2 in November, which legalized recreational cannabis use. Julie Winter, SVP and Market GM for Ohio at AYR, highlighted the strong demand for tested and trusted cannabis products in the state. AYR plans to support its partners in serving Ohio residents through these three branded dispensaries and its wholesale presence. The company has future ownership rights to all three dispensaries, pending regulatory approval.
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