Natural and Flavorful Delights: Kynd Brand’s Premium Edibles Debut
Cannabis Company AYR Wellness Inc. AYRWF launched its Kynd brand’s premium edibles in Florida and Nevada, focusing on natural flavors and vegan gluten-free options.
Embracing Diverse Experiences: Tailored Edibles Unveiled
Kynd’s edibles encompass ENERGY gummies crafted for varied experiences ranging from relaxation to energy boosts, accentuating precise dosing and natural ingredients.
Achieving Financial Milestones: AYR’s Strategic Outlook
In 2023, revenue for AYR Wellness soared to $463.6 million, depicting a 10% increase from the previous year. The net loss widened to $272.4 million, while adjusted EBITDA surged by 51% to $114.0 million and gross profit expanded by 15.7% year-over-year to $202.4 million. AYR aims to capture a significant share of the $2.2 billion edibles market, combat cultivation challenges, and elevate wholesale revenues, positioning for substantial growth in 2024.
Flourishing Markets: A Deeper Look into Florida
Florida’s flourishing cannabis market, valued at over $1.4 billion and growing by over 30%, recently experienced key acquisitions such as Planet 13’s acquisition of VidaCann. Edibles sales in the state are skyrocketing by 47%, with Trulieve leading the market and AYR Wellness witnessing remarkable year-over-year growth compared with its competitors.
Nevada’s Promising Landscape
The cannabis industry in Nevada, valued at $850 million, sees increased accessibility and market stability fueled by tourist inflow and positive economic indicators. With 104 licensed dispensaries, Nevada exhibits significant growth, maintaining high revenue per store compared to Western averages. Wholesale prices exceeding $1,600 per pound—double that of Arizona—and marginally decreasing yet consistently high retail flower prices underline Nevada’s robust economic standing in the cannabis market.
