Akerna Releases 2021 Cannabis Industry Mid-Year Review

Rhea-AI Summary

Akerna (Nasdaq: KERN) has released its second annual mid-year review, providing insights into the rapidly evolving cannabis industry. The report covers various elements such as cannabis operators, consumer spending trends, new markets, and corporate social responsibility. It aims to guide business owners, investors, and consumers seeking an in-depth understanding of this dynamic market. CEO Jessica Billingsley emphasized the report's value for stakeholders aiming to make informed decisions based on curated, data-driven insights.

Positive

• Release of the second annual mid-year review, offering valuable insights into the cannabis industry.
• Focus on data-driven decision making, beneficial for business owners and investors.
• Covers a wide range of topics including trends, new markets, and corporate social responsibility.

Negative

• None.

DENVER, July 21, 2021 /PRNewswire/ -- Akerna (Nasdaq: KERN), an enterprise software, leading compliance technology provider, and developer of the cannabis industry's first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®) today announced the release of its second annual mid-year review. 

This report highlights the state of the ever-changing and emerging cannabis industry.

This report highlights the state of the ever-changing and emerging cannabis industry. It takes a deep dive into cannabis operators, ancillary cannabis, capital, new markets, consumer shopping trends, and corporate social responsibility as it relates to the cannabis industry.

You can access the report here.

Cannabis Industry Mid-Year Review Sections + Authors:

Intro: Jessica Billingsley, Chief Executive Officer and Chairman of the Board, Akerna

Cannabis Markets: Trends and Forecasting: Scott Sozio, Head of Corporate Development and Board Member, Akerna

States are Recognizing the Economic Opportunity of Cannabis: Sheri Springer, Director of Service Sales, Akerna

Data Snapshot: Cannabis Consumer Spending and Trends: James Ahrendt, Business Intelligence Architect, Akerna

Cannabis and Corporate Social Responsibility: Missi Woolridge, Marketing & Community Engagement Specialist, Akerna

"We carefully curate this data and research-based report for anyone interested in gaining a better understanding of the fastest-growing industry in the world," says Jessica Billingsley, Akerna Chief Executive Officer. "You will find value in this report whether you are a business owner looking to make data-driven decisions, an investor looking to learn more about the promising cannabis industry, or a consumer interested in learning more about how the cannabis industry works to safely deliver the products you consume."

About Akerna

Akerna (Nasdaq: KERN) is an enterprise software company focused on compliantly serving the cannabis, hemp, and CBD industries. Based in Denver, Colorado, the Company's mission is to create the world's most transparent and accountable supply chain by building a cannabis technology ecosystem connecting data points across the global cannabis supply chain from seed to sale to self. First launched in 2010, Akerna has tracked more than $20 billion in cannabis sales to date and was the first cannabis software company listed on Nasdaq.

Using connected data and information to propel the cannabis industry forward, Akerna empowers businesses, governments, patients, and consumers to make smart decisions. The Company's cornerstone technology, MJ Platform, the world's leading infrastructure as a service platform, powers retailers, manufacturers, brands, distributors, and cultivators. Akerna also offers a complete suite of professional consulting services and data analytics for businesses as well as solo sciences, MJ Freeway, Leaf Data Systems, Trellis, Ample Organics and Viridian Sciences.

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

Click here for more information about MJ Platform. 

Forward-Looking Statements

Certain statements made in this release and any accompanying statements by management 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 words or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding the potential of adding Barry Fishman to the board, which is subject to the vote of stockholders at the Company's 2021 annual meeting, the potential benefits of adding Barry Fishman to the board, Akerna's future business plans, Akerna's potential business strengths in the market and any other statements expressing the views of Akerna's management on future business results or strategy. 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 (including, without limitation, the results of Akerna's contracts, strategic initiatives, and business plans as described herein) 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 recognize the anticipated benefits of being a public company, (ii) competition, (iii) Akerna's ability to grow and manage growth profitably, (iv) Akerna's ability to maintain relationships with customers and suppliers and retain its management and key employees, (v) costs related to being a public company, (vi) changes in applicable laws or regulations, (vii) Akerna's ability to identify, complete and integrate acquisitions, including Viridian, and achieve expected synergies and operating efficiencies in connection with acquired businesses, (viii) 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. Actual results, performance, or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those vary from forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial and other information, are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond Akerna's control. 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 insights are included in Akerna's 2021 mid-year review?

Akerna's mid-year review includes insights on cannabis operators, consumer spending trends, new markets, and corporate social responsibility.

What is the significance of Akerna's mid-year review for investors?

The review offers data-driven insights that help investors understand the cannabis industry's dynamics and make informed investment decisions.

When was Akerna's mid-year review released?

Akerna's mid-year review was released on July 21, 2021.

How does the mid-year review benefit cannabis businesses?

The review provides valuable data and insights that can assist cannabis businesses in making strategic, data-driven decisions.

Who authored Akerna's 2021 mid-year review?

The review features contributions from Akerna executives including Jessica Billingsley, Scott Sozio, and others.