Financial StabilityThe Company raised $40M of cash proceeds through the issuance of $50M of new debt from an existing noteholder, improving its financial stability.
Future GrowthManagement expects sales, earnings, and cashflow to continue to improve throughout 2024, with room for margins to surprise to the upside if Ayr’s wholesale segment continues its strong momentum.
Market PerformanceThe Company posted a sequential increase in sales, with wholesale revenues beating estimates for the second consecutive quarter.