Ayr Wellness Inc. (TSE:AYR.A) has released an update.
Ayr Wellness Inc. has reported a steady increase in Q1 2024 revenue to $118 million, up 3% from the previous quarter, with an improved GAAP loss from operations now at $2 million and a 10% year-over-year rise in adjusted EBITDA to $29.1 million. The company achieved positive free cash flow and expects to maintain this throughout FY2024, amid a significant regulatory shift with the U.S. Department of Justice recommending reclassification of cannabis, positioning AYR for potential growth in adult-use markets in several states.
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