This is always a busy time of the year for virtually all companies around the world. The first quarter of the year wrapped up on March 31, and accountants and finance executives have spent their time since then preparing the results of the quarter. It’s an opportunity for businesses to show investors where they stand, how far they’ve come and where they need to improve. Ayr Wellness, the cannabis vertical that recently added Liberty Health Sciences to its portfolio through acquisition, is almost ready to provide its latest update and is busy compiling all of its data.
Ayr Wellness, which has a multi-state footprint in the US, announced yesterday that it will hold a conference call to discuss its earnings results for the first quarter of the year on May 26. The call will be held at 5 PM Eastern, preceded by an official release of the data. The company indicates that it will “begin reporting its financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP) as of the first quarter of 2021.” The call will be hosted by Ayr CEO Jonathan Sandelman, COO Jennifer Drake and CFO Brad Asher and followed by a question-and-answer period for participants.
The company is likely to show strong gains for the quarter, despite having invested in acquisitions such as the Liberty Health Sciences purchase. It has seen a greater performance this year and recently announced that, for 4/20, recorded $1.24 million for the day. The retail gross margin on those sales was above 50%, and CEO Jonathan Sandelman explained of the results, “I could not be prouder of our Ayr Wellness team. This 420, we set a new standard for performance and customer service with over 14,200 transactions processed in one day. As cannabis continues to mainstream throughout our culture and 420 increasingly becomes a ‘National Holiday,’ we are thrilled to provide our consumers with an exceptional customer experience, excellent products and new ways to safely celebrate the wellness and wonder of cannabis.”