AYR Wellness Earnings + Call Notes

New leadership maps twin tracks for 2025.

AYR Wellness Earnings

$114M Revs; est. $114M
$19.1M AEBITDA; est. $25.7M
$36M GP; est. $53.2M
($134M) OI; est. ($1.4M)
31.6% GM; est. 46.6%
($164M) NI; est. ($28.6M)

2024 Highlights:

Opened 11 dispensaries across AYR’s footprint (total dispensary count 97 stores).

Included expansion into Connecticut, AYR’s eighth market with retail exposure.

Participated in Ohio AU with four retail stores and cultivation and production assets.

Received conditional license to open vertically integrated operations in Virginia.

Quote-Unquote

“Over the past quarter we have made crucial steps towards reorienting the business to reflect our forward-looking vision of AYR. And while our fourth quarter and full year results reflected ongoing macroeconomic pressures and company-specific challenges that impacted revenue and profitability, we remain confident that sustained growth and enhanced profitability are achievable within our footprint through disciplined cost reductions, streamlined operations, and improved execution.”

Interim CEO Steven M. Cohen

“One of my immediate objectives as President is to create greater synergy and collaboration between the revenue generating and supply chain functions of our business.

With that in mind, our vision for 2025 is focused on investment in our core brands and further streamlining operations to achieve cost efficiencies and facilitate quicker and better decision making at every level of our operational infrastructure.

As we advance initiatives across our core markets, we do so with a keen focus on balance sheet discipline and ensuring the long-term health and success of AYR.”

George DeNardo, President, AYR Wellness

Call Notes