AYR WELLNESS INC - AYRWF STOCK NEWS

Ayr Wellness reported its Q2 2022 financial results, showcasing revenues of $110.1 million, a 20.6% increase year-over-year. However, gross profit decreased by 11.5% to $40.3 million. Operating loss remained steady at $(24.8) million, while Adjusted EBITDA was $19.6 million, a decrease of 28.5% from the previous year. Ayr plans on optimizing its operations for future growth despite facing economic challenges. The company ended the quarter with a robust cash position of $116.7 million and anticipates a sequential revenue growth of approximately 10% in Q3 2022.

Ayr Wellness (CSE: AYR.A, OTCQX: AYRWF) has launched LEVIA-branded water-soluble tinctures in Nevada and Arizona, expanding its cannabis-infused beverage brand outsideMassachusetts. This significant milestone includes three offerings: Dream (indica), Celebrate (hybrid), and Achieve (sativa), each with 300 mg of THC per bottle. The tinctures are designed for fast-acting effects and flexible dosing, reflecting growing consumer interest in cannabis beverages. Ayr plans to introduce more LEVIA products to additional markets through 2023.

On August 11, 2022, Ayr Wellness (OTCQX: AYRWF) received a final license from the Massachusetts Cannabis Control Commission for adult-use cannabis at its Sira Naturals dispensary in Somerville. Ayr also gained approval to begin the first phase of its cultivation expansion in Milford. This follows the opening of two new adult-use dispensaries in Boston this summer. Massachusetts is the 7th largest legal cannabis market in the U.S., with revenues expected to reach $2.3 billion annually by 2026.

Ayr Wellness (CSE: AYR.A, OTCQX: AYRWF) has expanded its product range by launching the award-winning LIT flower brand in Massachusetts. Originally from Nevada, LIT is known for unique strains like Sour Cream and Bubble Bath. Ayr aims to bring top-quality West Coast cannabis to the East Coast, leveraging the expertise of the Tahoe Hydroponics Company. The launch follows recent store openings in Greater Boston, indicating Ayr's continued growth in the cannabis market. Ayr's focus is on quality cultivation and innovative product offerings.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) announced the launch of its premium whole flower brand, Kynd, in Pennsylvania, along with the opening of its ninth medical dispensary in Indiana on July 30, 2022. The Kynd brand includes five strains and is now available in all nine affiliated stores in Pennsylvania as well as in other states such as Massachusetts and Nevada, where it leads in sales. The new Indiana dispensary will offer a variety of cannabis products including flower, vaporizers, and tinctures, serving the local community's medical needs.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) announced the opening of its 49th Florida dispensary in Clearwater. The new location features over 6,100 sq. ft. of retail space and offers a range of products, including concentrates, edibles, vapes, and premium flower. Following the 2021 acquisition of Liberty Health Sciences, Ayr has expanded significantly, now operating 49 stores in Florida. The state's medical marijuana program has over 738,000 enrolled patients, with the market projected to reach $3.4 billion annually by 2026.

Ayr Wellness Inc (OTCQX: AYRWF), a prominent U.S. multi-state cannabis operator, is set to hold a conference call on August 18, 2022, at 8:30 a.m. ET, to discuss its Q2 financial results ending June 30, 2022. CEO Jonathan Sandelman, Co-COO Jennifer Drake, and CFO Brad Asher will lead the call, which includes a Q&A session. A press release with detailed financial results will precede the call. Interested parties can access the call via a toll-free number or through a webcast link provided in the announcement.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has opened its second adult-use cannabis dispensary in the Greater Boston area, located in Watertown, effective July 12, 2022. The new store offers a variety of cannabis products and aims to serve both experienced users and newcomers. Ayr's CEO, Jonathan Sandelman, expressed enthusiasm for this expansion, coinciding with a grand opening celebration for their Back Bay location. Medical cannabis sales at the Watertown site are pending approval from the Massachusetts Cannabis Control Commission.