An Evolution in Edibles
AYR Wellness Inc.’s Kynd brand has entered the scene with a flourish, launching premium edibles in Florida and Nevada that tout natural flavors and cater to the vegan and gluten-free crowd.
An Appetite for Success
In the financial arena, AYR Wellness reported a revenue boost to $463.6 million in 2023, with adjusted EBITDA soaring to $114.0 million. Despite a widening net loss, the company’s gross profit climbed to $202.4 million, a testament to their strategic direction.
A Fresh Look at Thriving Markets: Florida
The Sunshine State’s cannabis market is a lively landscape, valued at over $1.4 billion and expanding at more than 30% annually. The surge in edibles sales, including AYR Wellness’ Kynd offerings, is a testament to Florida’s evolving preferences.
Nevada: A Market on the Rise
Nevada’s cannabis industry, valued at $850 million, is on a trajectory toward sustainability and accessibility. Home to major brands like STIIIZY, WYLD, Green Thumb Industries, Curaleaf Holdings, and others, Nevada boasts 104 licensed dispensaries and robust economics that set it apart from its Western counterparts.