- Ayr Wellness ( OTCQX:AYRWF ) is trading 5% lower after the company said on Thursday that it sees second half growth to be slower than previously expected.
- "We continue to make investments in people and processes, while remaining prudent through these turbulent economic times. With our core operating footprint in place, the vast majority of our capex behind us, and a strong, $117 million cash position on our balance sheet, we believe that we are well-placed to weather this economic environment and emerge stronger on the other side," Jonathan Sandelman, CEO of Ayr.
- The Company expects Revenue, Adjusted EBITDA and Operating Income to grow approximately 10% sequentially from Q2 to Q3, and an acceleration in the pace of sequential growth in Q4 2022.
- Revenue grew 20.6% Y/Y to $110.1M.
- The company posted Q2 loss of -$0.56.
- Transcript
- Also Read - Booker says SAFE Banking Act needs to help small cannabis businesses to get passed
For further details see:
Ayr Wellness stock falls as co sees slower second half growth