Ayr Wellness Reports QoQ Drop In Q2 Revenue & Gross Profit But Plans To Make The Most Of Ohio Cannabis Sales
Vertically integrated U.S. multi-state cannabis operator AYR Wellness Inc. (CSE:AYR) (OTCQX:AYRWF) reported second-quarter results for the three months ended June 30, 2024.
The Miami-based company reported a 16.6% year-over-year and 6.9% sequential drop in gross profit to $47.2 million.
David Goubert, president and CEO of AYR, said “the second quarter presented challenges due to both internal and external factors including wholesale pricing pressure, tightening consumer wallets from persistent inflation, and margin pressure in select markets where we have recently increased our cultivation and production, but which are not yet optimized.”
Q2 2024 Financial Highlights
Revenue totaled $117.3 million up from $116.7 …