AYR WELLNESS INC - AYRWF STOCK NEWS

Ayr Wellness reported a 24% year-over-year revenue increase to $119.6 million for Q3 2022, alongside a 10% sequential rise in adjusted EBITDA to $21.7 million. The operating loss improved by 17% sequentially. Ayr expanded its retail presence, opening new dispensaries in Massachusetts and Florida, and launched several new products. Management expressed confidence in future growth, highlighting plans for further acquisitions and new store openings in 2023. The company maintains a cash balance of $100.8 million as of September 30, 2022.

Ayr Wellness conducted a survey revealing that 70% of cannabis consumers plan to purchase enough cannabis for sharing during the holidays. Despite rising inflation, 24% of respondents expect to spend $100 or more on cannabis for Thanksgiving. The survey, which included over 1,600 Americans, shows a rising trend in cannabis consumption, with 90% planning to buy the same amount or more than usual. Additionally, 65% of respondents indicated they would choose cannabis over alcohol during celebrations.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has opened two new retail marijuana stores in Florida, located in Daytona Beach and Lake Worth, bringing its total to 52 outlets statewide. This expansion follows the acquisition of Liberty Health Sciences in 2021 and aims to serve over 761,000 qualified cannabis patients in Florida. Ayr is also introducing LEVIA water-soluble cannabis tinctures to its product offerings, which feature high bioavailability and fast-acting effects, available in various formulations with 300 mg of THC per bottle.

Ayr Wellness announced its expansion into the New Jersey cannabis market by introducing several brands from its national portfolio. The brands now available include premium whole flowers like Lost in Translation and Kynd, along with various vape cartridges and lozenges. Most products are accessible to both medical patients and adult-use consumers, with some to be introduced shortly. The rollout follows Ayr's acquisition of Garden State Dispensary and aims to enhance the cannabis experience for consumers in New Jersey.

Ayr Wellness Inc. announced the appointment of David Goubert as President, effective November 1, 2022. Goubert, a veteran from Neiman Marcus Group, will oversee operations, including production, supply chain, and marketing. His experience in retail transformation is expected to drive sustainable growth for Ayr. Co-COO Jason Griffith will transition out, while Jennifer Drake will serve as the sole COO. Ayr has built a strong foundation by securing licenses and expanding its operations.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) announced the launch of its premium live resin concentrates and vapes brand HAZE in Florida, following the achievement of 50 retail stores in the state. HAZE aims to offer quality products at various price points, including vape cartridges and live badder with multiple strains. Post-Hurricane Ian, 47 of 51 stores are open, and efforts are underway to reopen additional locations. Ayr reported no damage to its Gainesville cultivation facility, ensuring operations remain on schedule.

Ayr Wellness Inc (CSE: AYR.A, OTCQX: AYRWF) will host a conference call on November 10, 2022, at 8:30 a.m. ET to discuss its Q3 results for the period ending September 30, 2022. The call will feature CEO Jonathan Sandelman, Co-COO Jennifer Drake, and CFO Brad Asher, followed by a Q&A session. Interested stakeholders can join via toll-free and international dial-in numbers or by accessing a webcast. A replay will be available for one month post-call. Ayr is a leading U.S. multi-state cannabis operator focused on quality cultivation and customer experience.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has launched its award-winning cannabis brand, Lost in Translation (LIT), in four new states: Arizona, Florida, New Jersey, and Pennsylvania, bringing its presence to six states total. Originally created by Tahoe Hydroponics, LIT is known for its exceptional strains like Bubble Bath and WAP. Ayr’s commitment to quality cannabis and diverse product offerings aims to meet varying consumer needs. The brand now available in Ayr’s dispensaries will cater to cannabis connoisseurs while enhancing Ayr’s strategic portfolio.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has secured a provisional cultivator license in Connecticut through its partnership with Connecticut Cultivation Solutions, co-owned by city council member Tiana Hercules. This collaboration aims to support communities affected by cannabis prohibition, featuring social justice initiatives such as the Bridge to Morehouse Program. The partnership emphasizes Ayr's commitment to social equity within the cannabis industry, with plans to expand cultivation and retail operations in the state.