Akerna Flash Report: Data Shows Top Five Cannabis Sales Days of 2021

Rhea-AI Summary

Akerna (Nasdaq: KERN) announced the top five cannabis sales days of 2021, revealing that the total sales exceeded $493 million. The largest sales day, 420 (April 20), generated $111.8 million, marking a 25% increase from the previous year. Other notable sales days include Black Friday and Green Wednesday with $99 million and $98.2 million respectively. This data highlights consistent growth in cannabis sales, as noted by CEO Jessica Billingsley, despite ongoing market challenges.

Positive

• Top cannabis sales days in 2021 generated over $493 million.
• 420 on April 20 was the largest sales day ever at $111.8 million.
• 25% increase in sales on the top sales day compared to 2020.

Negative

• None.

DENVER, Jan. 6, 2022 /PRNewswire/ -- Business intelligence from Akerna (Nasdaq: KERN), a leading enterprise software company and the developer of the most comprehensive technology infrastructure, ecosystem, and compliance engine powering the global cannabis industry, has revealed the top five cannabis sales days of 2021 in the United States:

2021 US Top Cannabis Sales Days:

1. 420 / April 20^th: $111.8 million
2. Black Friday / November 26^th: $99 million
3. Green Wednesday / November 24^th: $98.2 million
4. Thursday before Christmas / December 23^rd: $94 million
5. Friday before Labor Day / September 3^rd: $90.1 million

420, the unofficial cannabis consumption holiday, was the largest cannabis sales day ever. Together, these top sales days brought in over $493 million in cannabis sales. Akerna will release its annual Cannabis Industry Year-End Review report with additional data, research, and industry information later this month. You can sign up to receive it here.

"When comparing the top sales day of 2021 to the top sales day of 2020, 2021 saw a 25% increase in sales," said James Ahrendt, Business Intelligence Architect at Akerna. "Last year's top sales day – December 31st, 2020 - wouldn't have even made it on the top five chart in 2021."

"We've diligently been tracking legal cannabis sales for over a decade and have seen constant growth each year, even amid the ongoing pandemic," said Jessica Billingsley, Akerna CEO. "Whether people are turning towards cannabis to celebrate holidays, for its countless medical benefits, or as an alternative to other substances, it's clear that Americans are increasingly purchasing cannabis each year."

About MJ Freeway

MJ Freeway is more than software as a service. Its flagship solution, MJ Platform, includes Platform Insights. Now operators, investors, and regulators can access the industry's largest and most statistically relevant database to drive data-driven business decisions.

Platform Insights provides:

• The greatest statistical relevance across countries
• Normalized data (not farmed from various disparate POS platforms)
• Full cannabis supply chain data
• Business insights founded in category management methodology

Platform Insights can eliminate the guesswork and provide answers to questions like:

• What is the gross margin return on inventory?
• What SKUs should be carried?
• How do basket adjacencies influence discounting and retention strategies?
• What does a medical market look like a year or five years after decriminalizing cannabis?

Click here for more information about MJ Platform. 

About Akerna:

Akerna (Nasdaq: KERN) is an enterprise software company focused on compliantly serving the cannabis, hemp, and CBD industry. First launched in 2010, Akerna has tracked more than $30 billion in cannabis sales to date and is the first cannabis software company listed on Nasdaq. The company's cornerstone technology, MJ Platform, the world's leading infrastructure as a service platform, powers retailers, manufacturers, brands, distributors, and cultivators.

For more information, visit https://www.akerna.com/. 

About the Akerna Flash Report:

Flash Report is a look at buying trends in the cannabis market as captured by Akerna's MJ Freeway subsidiary.

MJ Freeway provides operators with MJ Platform, the industry-leading solution for regulatory compliance technology, from seed-to-sale-to-self. Some instances of the flash report may include business intelligence derived from Akerna's family of companies, including Ample Organics, Leaf Data Systems, solo sciences, Trellis, Viridian Sciences, and 365 Cannabis.

Data is derived from MJ Platform, the leading provider of cannabis compliance software for the marijuana industry. Sales projections are based on market adjustment calculations and represent the entire US market as an aggregate.

Reporting Data is obtained from operators using Akerna's MJ Platform solutions. Akerna has one of the largest seed-to-sale footprints in the cannabis industry, operating in 15 countries and 23 U.S. states, including Pennsylvania, Oklahoma, Puerto Rico, Arizona, California, Utah, Michigan, Colorado, Montana, Nevada, Maine, Vermont, New Mexico, Missouri, Texas, Ohio, Maryland, Washington D.C., Kansas, Arkansas, New York.

Increases are relative to the prior period. Additional business intelligence data sources may include proprietary tools used by Akerna's family of companies.

Forward-Looking Statements:

Certain statements made in this release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such terms or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding the ability of the MJ Platform team to help operators make decisions through analytics and reporting. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside Akerna's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna's ability to maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna's filings with the U.S. Securities and Exchange Commission, including those under "Risk Factors" therein. You are cautioned not to place undue reliance on forward-looking statements. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna's industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

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SOURCE Akerna

FAQ

What were the top cannabis sales days of 2021 for KERN?

The top sales days were 420 ($111.8 million), Black Friday ($99 million), Green Wednesday ($98.2 million), Thursday before Christmas ($94 million), and Friday before Labor Day ($90.1 million).

How much did cannabis sales increase in 2021 compared to 2020?

Cannabis sales on the top sales day in 2021 increased by 25% compared to 2020.

What is Akerna's role in the cannabis industry as per the KERN press release?

Akerna develops technology infrastructure for the cannabis industry and tracks significant sales data, including over $30 billion in cannabis sales since its launch.

When will Akerna release its annual Cannabis Industry Year-End Review?

Akerna is set to release its annual Cannabis Industry Year-End Review report later this month.