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Private company

Ayr Wellness Inc.

Ayr Wellness Inc. is a Canadian medicinal chemicals and botanical products company based in Miami.1

Last updated Oct 21, 2026.

Overview

$463.6MRevenue, fiscal 20242
-$359.3MNet income, fiscal 20242
  • IndustryMedicinal Chemicals & Botanical Products1
  • HeadquartersA11
  • Incorporated inBritish Columbia, Canada3
  • Business address199 Bay Street, Suite 5300, Toronto, M5L 1B93
  • Filer category, Emerging growth company3
  • Legal formCorporation

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

38.1%Gross margin2
-34.7%Operating margin2
-77.5%Net margin2
0.0%Revenue growth, 20242
-94.7%Return on equity2
1.02×Debt to equity2
-$8.1MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue50¢$287.0M
  • Selling, general and admin29¢$167.1M
  • Interest14¢$78.3M
  • Income tax8¢$43.3M

Out of $463.6M in revenue.2 The company lost money this year.

Where each dollar of operating cash went, fiscal 2024

  • Capital spending100¢$17.7M

Out of $9.6M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue45672$463.6M in 2024+517% since 2019
0$200.0M$400.0M$600.0M2019: $75.2M$75.2M20192020: $155.1M$155.1M2020+106%2021: $357.6M$357.6M2021+131%2022: $421.4M$421.4M2022+18%2023: $463.6M$463.6M2023+10%2024: $463.6M$463.6M2024+0%
Gross profit45672$176.7M in 2024+573% since 2019
0$100.0M$200.0M$300.0M2019: $26.3M$26.3M20192020: $88.8M$88.8M2020+238%2021: $138.1M$138.1M2021+56%2022: $175.0M$175.0M2022+27%2023: $202.4M$202.4M2023+16%2024: $176.7M$176.7M2024−13%
Operating income45672-$161.0M in 2024+330% since 2019
-$300.0M-$200.0M-$100.0M0$100.0M2019: -$37.5M-$37.5M20192020: $1.2M$1.2M20202021: -$56.0M-$56.0M20212022: -$207.3M-$207.3M2022+270%2023: -$37.1M-$37.1M2023−82%2024: -$161.0M-$161.0M2024+334%
Net income45672-$359.3M in 2024+119% since 2019
-$400.0M-$300.0M-$200.0M-$100.0M02019: -$164.2M-$164.2M20192020: -$24.6M-$24.6M2020−85%2021: -$17.0M-$17.0M2021−31%2022: -$245.5M-$245.5M2022+1348%2023: -$272.4M-$272.4M2023+11%2024: -$359.3M-$359.3M2024+32%
Fiscal year2018201920202021202220232024
Revenue$75.2M4$155.1M5$357.6M6$421.4M7$463.6M2$463.6M2
Cost of revenue$246.5M7$261.2M2$287.0M2
Gross profit$26.3M4$88.8M5$138.1M6$175.0M7$202.4M2$176.7M2
Selling, general and admin$144.4M6$212.5M7$177.8M2$167.1M2
Operating expenses$382.3M7$239.6M2$337.7M2
Operating income-$37.5M4$1.2M5-$56.0M6-$207.3M7-$37.1M2-$161.0M2
Interest$16.6M6$28.3M7$39.4M2$78.3M2
Income before tax$12.3M6-$172.1M7-$45.8M2-$319.1M2
Income tax$29.3M6$44.7M7$47.4M2$43.3M2
Net income-$164.2M4-$24.6M5-$17.0M6-$245.5M7-$272.4M2-$359.3M2
Earnings per share-$0.885-$0.306-$3.587-$3.682-$3.242
Earnings per share (diluted)-$0.885-$0.306-$3.587-$3.682-$3.242
Shares (weighted, basic)57.3K shares668.6K shares774.1K shares2110.8K shares2
Shares (weighted, diluted)57.3K shares668.6K shares774.1K shares2110.8K shares2

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Corporate structure

Ayr Wellness Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Ayr Wellness Inc.

  • Ayr Wellness Inc. A1

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Ayr Wellness Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$331.1M2 Dec 31, 2024$348.3M2 Dec 31, 2023−4.9%
Accumulated depreciation$53.4M2 Dec 31, 2024$37.9M2 Dec 31, 2023+40.6%
Property and equipment, net$277.7M2 Dec 31, 2024$310.4M2 Dec 31, 2023−10.5%
Finance-lease assets$27.6M2 Dec 31, 2024$40.7M2 Dec 31, 2023−32.0%
Operating-lease assets (leased space)$164.3M2 Dec 31, 2024$126.1M2 Dec 31, 2023+30.2%

Real estate and locations

ItemLatestA year beforeChange
Area of real estate16 acres2 Jun 10, 2024
Stores972 Dec 31, 2024

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$50.8M7 Dec 31, 2023$76.8M7 Dec 31, 2022−33.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$02 Dec 31, 2024$94.1M2 Dec 31, 2023−100.0%
Intangible assets, net (excluding goodwill)$616.7M2 Dec 31, 2024$673.7M2 Dec 31, 2023−8.5%
Finite-lived intangibles, net$615.0M2 Dec 31, 2024$684.8M7 Dec 31, 2023−10.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$112.6M2 Dec 31, 2024$106.1M2 Dec 31, 2023+6.1%
Work in process$77.8M2 Dec 31, 2024$69.6M2 Dec 31, 2023+11.7%
Finished goods$26.7M2 Dec 31, 2024$29.0M2 Dec 31, 2023−7.8%

Leadership

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief People OfficerAnya Varga named Feb 22, 20248
  • Chief Financial OfficerBrad Asher named Feb 22, 20248
  • President and Chief Executive OfficerDavid Goubert named Feb 22, 20248
  • Chief Operating OfficerDeNardo George named Feb 22, 20248
  • Chief Transformation OfficerPaul Fisher named Feb 22, 20248
  • Chief Business Development OfficerRobert Mendola named Feb 22, 20248
  • DirectorCharles Miles named Feb 22, 20248
  • DirectorCohen Jared named Feb 22, 20248
  • DirectorGlenn Isaacson named Feb 22, 20248
  • Chairman of the BoardJonathan Sandelman named Feb 22, 20248
  • DirectorJoyce Johnson named Feb 22, 20248
  • DirectorLouis Karger named Feb 22, 20248
  • DirectorMichael Warren named Feb 22, 20248

Filings

182 filings to the SEC since October 2021: 4 annual reports, 8 large holders, 1 private raises, 169 other. The latest 20:

  1. Oct 6, 20266-K EDGAR
  2. Apr 13, 20266-K EDGAR
  3. Jan 22, 20266-K EDGAR
  4. Nov 26, 20256-K EDGAR
  5. Nov 17, 20256-K EDGAR
  6. Nov 14, 20256-K EDGAR
  7. Oct 14, 20256-K EDGAR
  8. Sep 15, 20256-K EDGAR
  9. Sep 12, 20256-K EDGAR
  10. Sep 9, 20256-K EDGAR
  11. Aug 29, 20256-K EDGAR
  12. Aug 18, 20256-K/A EDGAR
  13. Aug 8, 20256-K EDGAR
  14. Jul 30, 20256-K EDGAR
  15. Jul 28, 20256-K EDGAR
  16. Jul 18, 20256-K EDGAR
  17. Jul 11, 20256-K EDGAR
  18. Jul 3, 20256-K EDGAR
  19. Jul 2, 20256-K EDGAR
  20. Jun 27, 20256-K EDGAR

The 182 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Feb 22, 2024Filed a private offering of securities8 Form D: $48.9 million offered in all Form D

SEC filer profile

How Ayr Wellness Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAyr Wellness Inc.1
  • CIK0001847462
  • Employer ID (EIN)98-150058413
  • Filer status<br>emerging growth company an emerging growth company1
  • Incorporated inBritish Columbia13
  • Fiscal year endsDecember 311
  • Industry code (SIC)2833 Medicinal Chemicals & Botanical Products1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address199 Bay Street, Suite 5300, Toronto, M5L 1B9, British Columbia, Canada1
  • Mailing address666 Burrard St, Suite 1700, Vancouver, V6C 2X8, British Columbia, Canada1
  • Phone949-574-38601
  • Shares outstanding108,759,747 shares as of Dec 31, 202413
  • On EDGAR sinceFeb 24, 20211
  • Filings209 in all: 6-K (168), 40-F (5), F-10 (4), F-X (4), SC 13G/A (4), SC 13G (3), T-3/A (3), UPLOAD (3)1
    All 20 form types

    CORRESP (2), EFFECT (2), RW (2), 40-F/A (1), 6-K/A (1), D (1), F-10/A (1), S-8 (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1), SEC STAFF ACTION (1), T-3 (1)

  • Latest filingsAnnual report (40-F) Mar 24, 2025

Sources

The numbers on this page point here. Each one links to the record it came from.

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