From GlobeNewswire: 2025-03-06 07:00:00

AYR Wellness Inc., a leading U.S. cannabis operator, reported financial results for Q4 and full year 2024. Despite revenue and profitability challenges, the company remains confident in sustained growth. Restructuring leadership and operational focus are key strategies moving forward.

Key leadership changes include George DeNardo as President, focusing on synergy and cost efficiency. Investments in core brands, streamlining operations, and new cultivation facilities in Florida aim to drive growth. Expansion into Ohio and Virginia markets are also planned.

Financially, AYR reported revenue of $114 million in Q4 2024, a 0.7% decrease from the previous quarter. Adjusted EBITDA was $19.1 million, down 26.8%. Full year 2024 revenue remained stable at $463.6 million, with a gross profit of $176.7 million.

The company’s cash balance at the end of 2024 was $35.5 million, down from previous periods. AYR expects capital expenditure of $10 million in 2025. Looking ahead, revenue is expected to decrease slightly in Q1 2025, with a modest increase in Adjusted EBITDA Margin.

AYR’s recent highlights include new dispensary openings, brand launches, and leadership changes. The company plans to focus on sustainable growth, operational efficiency, and market expansion in the coming year. Investors can participate in a conference call for more details on the company’s performance and outlook.



Read more at GlobeNewswire:: AYR Wellness Reports Fourth Quarter and Full Year 2024