Ayr Wellness Inc
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Health Care : Pharmaceuticals | Small Cap Value
Company profile

Ayr Wellness Inc. is a vertically integrated, United States (U.S) multi-state cannabis operator. The Company cultivates and manufactures branded cannabis products for distribution through its network of retail outlets and through third party stores. Its products include marijuana flower, concentrates, cartridges, vapes, seltzers, tinctures, topicals and edibles. Its flower product is a smokable part of the cannabis plant. Its concentrates are cannabis products that have been processed to remove extraneous components, leaving only the active compounds, primarily cannabinoids and terpenes. The vapes are devices that is pre-filled with extracted cannabis oils. Its tinctures are an alcohol or glycerol-based liquid cannabis extracts. Its topicals is a cannabis-infused skin product, such as lotions, creams and balms. Its brands include Kynd, Origyn, Stix Preroll Co. and Levia. Through Herbal Remedies Dispensaries, LLC, it operates two licensed retail dispensaries in Quincy, Illinois.

Closing Price
Day's Change
0.051 (1.75%)
B/A Size
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10-day average volume:

Ayr Wellness misses revenue target, warns of lower Q3 growth

7:24 am ET August 18, 2022 (MarketWatch)

Ayr Wellness Inc. said Thursday its second-quarter loss widened to $38.36 million, or 56 cents a share, from a loss of $20.74 million, or 36 cents a share in the year-ago quarter. Revenue increased by about 21% to $110.13 million. The Miami-based cannabis company missed the analyst estimates for a loss of 40 cents a share and revenue of $114.8 million, according to a FactSet survey. Ayr Wellness founder and CEO Jonathan Sandelman said the company's results were in line with its expectations. "Our second half growth will be slower than previously expected, but the earnings power of the business remains outstanding," he said. The company is projecting revenue to grow about 10% sequentially from the second-quarter to the third quarter and an "acceleration in the pace of sequential growth" in the fourth quarter. Analysts were looking for third-quarter revenue of $150.2 million, or about 31% over the second-quarter revenue estimate of $114.8 million. Shares of Ayr Wellness are down 70.1% in 2022, compared to a loss of 53.4% by the AdvisorShares Pure US Cannabis ETF and a 17.3% loss by the Nasdaq .

-Steve Gelsi


(END) Dow Jones Newswires

August 18, 2022 07:24 ET (11:24 GMT)

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