AYR Wellness Earnings + Call Notes
Extending the runway to capture growth catalysts.
$114.4M Revs; est. $120.2M
$28.4M AEBITDA; est. $29.9M
$48.1M GP; est. $59.7M
42% GM; est. 49.7%
($20.3M) NI; est. ($19.5M)
$73M cash/equiv.
CGF: “AYR currently trades at 4.1x our 2024E EV/EBITDA vs. top MSO average at 6.5x”
“As only 15 of our 88 dispensaries are fully ramped adult-use stores, AYR is well-positioned to take advantage of catalysts in states like Ohio, as well as Florida and Pennsylvania in the near future. Conversion of these stores would reflect a 6x increase in our adult-use retail footprint.”
Call Notes
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