Canada · Delayed Price · Currency is CAD Ayr Wellness Earnings Call Transcripts
Fiscal Year 2024
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Q4 sales were flat at $114M, with gross profit and EBITDA pressured by price compression and inventory challenges. Strategic focus is on core markets, operational streamlining, and launching a new Florida facility to drive growth, while leadership transitions and asset divestitures continue.
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Q3 revenue declined 2.5% sequentially and was flat year-over-year, with adjusted EBITDA margin improving to 22.9%. Expansion in Ohio and Florida continues, while cost-saving initiatives and leadership changes aim to drive efficiency and future growth.
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Q2 2024 revenue was flat sequentially at $117.3 million, with margin pressures from price compression and competition. Wholesale grew 4% sequentially and 50% year-over-year, while adjusted EBITDA margin declined to 21.9%. Growth is expected in H2 2024 from Ohio adult-use, new stores, and operational improvements.