AYR Wellness Q3 Revenue Flat, Net Loss Soars 160% Amid Consumer Wallet Pressure
Multi-state cannabis operator AYR Wellness Inc. (OTCQX:AYRWF) reported financial results Wednesday for the third quarter ended Sept. 30, 2024, showing revenue of $114.4 million, compared to $114.3 million in the same period of 2023.
“Our third quarter performance reflected ongoing macroeconomic pressure to the consumer wallet and increased competition in select markets, which affected revenue and offset the growth from the launch of adult-use sales in Ohio,” stated Steven M. Cohen, interim CEO of AYR. “However, our team adapted to drive gross margin expansion and operating efficiencies, improving our Adjusted EBITDA despite the lower revenue.”
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