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. reports developments as a vertically integrated U.S. multi-state cannabis operator, including cultivation, dispensary and branded product activity. Company updates have covered Florida operations, the launch of indoor-grown Kynd flower, medical cannabis patient offerings, interim financial statements and Management’s Discussion and Analysis.
Recurring AYRWF news also includes material agreements, capital-structure disclosures, governance changes and restructuring-related corporate updates. Coverage reflects the company’s cannabis operating footprint, financial reporting, regulatory context and changes affecting its board and finance leadership.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) announced significant leadership changes, with Steven M. Cohen stepping down as Interim Chief Executive Officer effective April 04, 2025. The board has appointed Scott Davido as the new Interim CEO.
Cohen, who served as Interim CEO since September 18, 2024, will remain as an advisor to support the transition. Davido joins from Ankura Consulting Group, where he served as senior managing director. His extensive experience includes previous roles as Interim CEO of DCL , CEO of Advantage Rent a Car, and CEO of Experience.com, along with senior executive positions at Calpine and NRG Energy.
Board Chairman Louis Karger acknowledged Cohen's contributions in initiating organizational evolution and welcomed Davido's appointment, citing his track record in positioning companies for sustained success and executing strategic initiatives.
AYR Wellness (OTCQX: AYRWF) announced changes in its executive leadership team. Brad Asher has resigned from his position as Chief Financial Officer, effective March 23, 2025. The company has appointed Donna Granato as Interim Chief Financial Officer, effective immediately.
Granato brings over 25 years of experience in corporate finance and operations. Her most recent role was CFO at Vivvix, a global digital advertising company. She previously held senior finance positions at GTT Communications, Shutterstock, Tribune Media, and Omnicom Group.
AYR Wellness has reported its Q4 and full year 2024 financial results, facing ongoing macroeconomic pressures and company-specific challenges impacting revenue and profitability. The company has implemented significant leadership changes, including George DeNardo's promotion to President and the resignation of CFO Brad Asher.
Key developments include: expansion to 97 total dispensaries with 11 new locations in 2024, entry into Connecticut market, and participation in Ohio's adult-use launch. The company secured up to $30M financing from IIP for a new 98,000 sq ft indoor cultivation facility in Florida.
Financial highlights: The company ended 2024 with $35.5M cash balance (down from $50.6M in Q3), generated $9.6M cash flow from operations, and reduced capital expenditure to $17.7M for FY2024. In early 2024, AYR completed the retirement or deferral of nearly $400M in debt maturity to 2026. For Q1 2025, the company expects revenue to decrease mid-single digits compared to Q4 2024, with modest improvement in Adjusted EBITDA Margin.
AYR Wellness (OTCQX: AYRWF) announced updates to its dispensary network, including new locations in Miami, FL and Niles, OH, while closing its Key West, FL location. The Miami-Midtown location marks the first-ever medical cannabis dispensary within Miami's city limits and becomes AYR's 67th dispensary in Florida. Located at 3160 N. Miami Ave, the store features seven point-of-sale stations and convenient parking options.
The Niles, OH location represents AYR's fourth store in Ohio, with plans to open four additional dispensaries throughout the year. Situated along U.S. Route 422, it serves the Youngstown-Warren metropolitan area and offers house brands including kynd, Later Days, and HZ. The company closed its Key West location to improve supply chain efficiency across its retail footprint.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF), a leading vertically integrated U.S. multi-state cannabis operator, announced that Jared Cohen has resigned from its Board of Directors and will transition to the role of Board Observer. The transition comes as Cohen takes on new professional obligations outside of AYR Wellness and the cannabis industry. Cohen expressed gratitude for his time serving on AYR's Board and confidence in the company's leadership team. Board Chairman Louis Karger acknowledged Cohen's service and welcomed his continued engagement as a Board Observer.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF), a leading vertically integrated U.S. multi-state cannabis operator, has announced its upcoming fourth quarter and full year 2024 earnings conference call. The call is scheduled for Thursday, March 6, 2025, at 8:30 a.m. ET.
The conference call will be hosted by Interim CEO Steven Cohen and CFO Brad Asher, featuring a presentation of financial results followed by a question-and-answer session. The company will release its financial results via press release before the call.
Participants can join using the toll-free number (844) 763-8274 or international number (647) 484-8814. A replay will be available for one month until April 6, 2025, accessible via toll-free (877) 344-7529 or international (412) 317-0088 with Replay ID: 9783370.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF), a leading vertically integrated U.S. multi-state cannabis operator, announced the resignation of Chief Financial Officer Brad Asher. The departure, driven by Asher's pursuit of another opportunity, will be effective following the company's filing of its 2024 annual financial statements.
Asher has been with AYR since its inception in 2019, contributing to the company's foundation and growth. The company will provide updates regarding the search for a new CFO in due course. Both interim CEO Steven M. Cohen and Board Chairman Louis Karger expressed gratitude for Asher's contributions and years of service to the organization.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) has announced the promotion of George Denardo from Chief Operating Officer to President. In his expanded role, Denardo will oversee all company-wide operations, including retail, wholesale, purchasing, marketing, cultivation, and manufacturing.
Under his previous position, Denardo has made significant contributions to AYR by improving cultivation and production metrics, streamlining the brand portfolio, and developing a platform for new product launches. The appointment comes at what the company describes as a pivotal time in the cannabis industry, with Denardo emphasizing the importance of efficient operations and value generation from existing footprints.
Meanwhile, AYR's Board of Directors continues its search for a permanent CEO, having engaged True Search to lead the recruitment process. Steven M. Cohen continues to serve as Interim CEO.
AYR Wellness announced the launch of its annual charitable campaign, 'Season of Kyndness', through its flagship cannabis brand kynd, celebrating its 10-year anniversary. Starting December 1st, 2024, the company will donate a portion of proceeds from each unit sold to local charities throughout December.
The initiative extends beyond December with a new year-round charitable giving program supporting local food banks, animal rescues, and other organizations in states where kynd operates. The campaign operates across Massachusetts, New Jersey, Pennsylvania, Florida, Ohio, and Nevada.
During last year's Season of Kyndness, kynd raised over $70,000 for charities and donated 200 boxes of toys across five states. Customers can participate by purchasing kynd products at AYR retail locations or joining store-organized food, coat, and toy drives benefiting local communities.