Ayr Wellness Reports QoQ Drop In Q2 Revenue & Gross Profit But Plans To Make The Most Of Ohio Cannabis Sales
Portfolio Pulse from Jelena Martinovic
AYR Wellness Inc. reported a challenging Q2 2024 with a drop in revenue and gross profit, but remains optimistic about future growth, particularly in Ohio's cannabis market. The company saw a 16.6% YoY and 6.9% QoQ drop in gross profit, and a net loss of $39.3 million. Despite these setbacks, AYR launched recreational cannabis sales in Ohio and plans to improve its adjusted EBITDA margins in the second half of 2024.
August 07, 2024 | 2:13 pm
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AYR Wellness reported a challenging Q2 2024 with a drop in revenue and gross profit, but remains optimistic about future growth, particularly in Ohio's cannabis market. Shares rose 4.71% to $2.
Despite the drop in revenue and gross profit, the market reacted positively to the news of AYR's expansion in Ohio and future growth plans, leading to a 4.71% increase in share price.
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IMPORTANCE 80
RELEVANCE 100