Ayr Wellness AYRWF

Ayr Wellness Inc. is a national cannabis consumer packaged goods company and retailer. Founded in 2019 and headquartered in Miami Florida since 2021 the Company focuses on delivering high quality cannabis products and a premium customer experience throughout its footprint. As of December 31 2024 the Company operates in eight U. S. states and employs roughly 2,440 people. Through its subsidiaries and affiliates Ayr Wellness Inc. holds operates and manages licenses and permits in Florida Illinois Massachusetts Nevada New Jersey Ohio Pennsylvania Connecticut New York and Virginia where the latter two states are not yet operational. The Company pursues vertical integration by consolidating cultivation production distribution and dispensation of cannabis brands and products at scale. Its consumer packaged goods portfolio includes the core brands kynd HAZE and Later Days along with additional legacy and local brands. Ayr Wellness Inc. distributes and markets its products to its own retail stores and to third party licensed retail cannabis stores across its operating footprint. The Company owns and operates a chain of cannabis retail stores under the Ayr and The Dispensary by Ayr Wellness brand names. Stores acquired through mergers often retain their pre acquisition branding although the Company plans to unify its retail footprint under the Ayr brand over time. Retail store income comes mainly from the sale of cannabis products with only an immaterial portion derived from the sale of accessories such as pipes and vaporizers. As of December 31 2024 Ayr Wellness Inc. operates 97 retail stores located throughout its portfolio.

Ayr Wellness Inc. generates revenue primarily from the sale of cannabis products including flower concentrates edibles and topicals through its owned retail dispensaries and through wholesale to third party licensed retailers. The Company also earns income from its branded consumer packaged goods line which encompasses the kynd HAZE and Later Days brands sold both in Ayr stores and in external dispensaries. Additional revenue streams include the sale of cannabis related accessories such as vaporizers pipes and apparel which contribute a minor portion of total sales. The Company serves adult use consumers and medical patients in the states where it holds licenses. Its customer base consists of individuals seeking recreational cannabis as well as qualifying patients with medical recommendations.

Ayr Wellness Inc. is considered a vertically integrated multi state operator with a strong presence in limited license markets such as Florida Illinois Massachusetts Nevada New Jersey Ohio Pennsylvania and Connecticut. The Company competes with other large cannabis operators including Trulieve Curaleaf Green Thumb Industries and Cresco Labs. Competitive advantages stem from its diversified brand portfolio its extensive retail footprint of 97 stores and its control over the supply chain from cultivation to retail sale. The Company’s focus on high quality products and premium customer experience helps differentiate it in crowded markets. Additionally Ayr Wellness Inc. benefits from early entry into several states and from its ability to secure licenses in jurisdictions with high barriers to entry.

Ayr Wellness Inc. serves adult use consumers seeking recreational cannabis and medical patients with qualifying conditions in the states where it is licensed. The Company’s retail locations cater to both experienced users and new consumers looking for guidance on product selection and usage. Its consumer packaged goods appeal to a broad demographic that values brand consistency and product safety. While the Company does not disclose individual customer names its customer base comprises individuals aged 21 and over for adult use sales and patients 18 years or older for medical sales where permitted by state law.