Ayr Wellness Inc. Stock Price, News & Analysis

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.

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.