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Ayr Wellness vs Cresco Labs: revenue, profit, margins and growth compared

Ayr Wellness brought in $463.6M of revenue in fiscal 2024, Cresco Labs $655.8M in fiscal 2025. Revenue changed by +0.0% at Ayr Wellness and -9.5% at Cresco Labs on the year before, so Ayr Wellness grew faster. Ayr Wellness kept -77.5% of its revenue as net profit, Cresco Labs -20.6%. Free cash flow was -$8.1M at Ayr Wellness and $37.8M at Cresco Labs.

Side by side, latest fiscal year

AYRWFCRLBF
Fiscal year endedFY2024 (December 31, 2024)FY2025 (December 31, 2025)
Revenue$463.6M$655.8M
Revenue growth+0.0%-9.5%
Net income-$359.3M-$135.4M
Net margin-77.5%-20.6%
Free cash flow-$8.1M$37.8M
Free cash flow margin-1.7%5.8%
Earnings per share (diluted)-$3.24-$0.38
Cash$35.5M$57.9M
Debt$410.5M$420.4M
Price to earningsn/an/a
Market valuen/an/a
Dividend yieldn/an/a
Rank by revenue in sector#209 of 742 · Health care#185 of 742 · Health care

Over the years

Revenue
AYRWF FY2020: $75.2MAYRWF FY2020: $155.1MAYRWF FY2021: $357.6MAYRWF FY2022: $465.6MAYRWF FY2023: $463.6MAYRWF FY2024: $463.6MCRLBF FY2020: $128.5MCRLBF FY2020: $476.3MCRLBF FY2021: $821.7MCRLBF FY2022: $842.7MCRLBF FY2023: $770.9MCRLBF FY2024: $724.3MCRLBF FY2025: $655.8MFY20FY21FY22FY23FY24FY25
AYRWF $463.6MCRLBF $655.8M
Net income
AYRWF FY2020: -$164.2MAYRWF FY2020: -$24.6MAYRWF FY2021: -$17MAYRWF FY2022: -$245.5MAYRWF FY2023: -$272.4MAYRWF FY2024: -$359.3MCRLBF FY2020: -$43.2MCRLBF FY2020: -$102.2MCRLBF FY2021: -$319.6MCRLBF FY2022: -$212MCRLBF FY2023: -$175.5MCRLBF FY2024: -$74.4MCRLBF FY2025: -$135.4MFY20FY21FY22FY23FY24FY25
AYRWF -$359.3MCRLBF -$135.4M
Net margin
AYRWF FY2020: -218.3%AYRWF FY2020: -15.9%AYRWF FY2021: -4.7%AYRWF FY2022: -52.7%AYRWF FY2023: -58.8%AYRWF FY2024: -77.5%CRLBF FY2020: -33.6%CRLBF FY2020: -21.5%CRLBF FY2021: -38.9%CRLBF FY2022: -25.2%CRLBF FY2023: -22.8%CRLBF FY2024: -10.3%CRLBF FY2025: -20.6%FY20FY21FY22FY23FY24FY25
AYRWF -77.5%CRLBF -20.6%
Revenue growth
AYRWF FY2020: +106.3%AYRWF FY2021: +130.5%AYRWF FY2022: +30.2%AYRWF FY2023: -0.4%AYRWF FY2024: +0.0%CRLBF FY2020: +270.5%CRLBF FY2021: +72.5%CRLBF FY2022: +2.6%CRLBF FY2023: -8.5%CRLBF FY2024: -6.0%CRLBF FY2025: -9.5%FY20FY21FY22FY23FY24FY25
AYRWF +0.0%CRLBF -9.5%
Free cash flow
AYRWF FY2022: -$93MAYRWF FY2023: -$532KAYRWF FY2024: -$8.1MCRLBF FY2020: -$116.9MCRLBF FY2020: -$95MCRLBF FY2021: -$79.4MCRLBF FY2022: -$64.3MCRLBF FY2023: $3.2MCRLBF FY2024: $113MCRLBF FY2025: $37.8MFY20FY21FY22FY23FY24FY25
AYRWF -$8.1MCRLBF $37.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Ayr Wellness and Cresco Labs

Which is bigger by revenue, Ayr Wellness or Cresco Labs?

Cresco Labs is bigger by revenue: $655.8M in fiscal 2025, against $463.6M for Ayr Wellness in fiscal 2024.

Which keeps more of its revenue as profit, Ayr Wellness or Cresco Labs?

Ayr Wellness had a net margin of -77.5% in fiscal 2024; Cresco Labs had -20.6% in fiscal 2025.

Which grew revenue faster, Ayr Wellness or Cresco Labs?

In their latest fiscal years revenue changed by +0.0% at Ayr Wellness and -9.5% at Cresco Labs.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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