Akerna Corp. - KERN STOCK NEWS

Akerna (Nasdaq: KERN) has released data highlighting the Top 5 Cannabis Sales Days of 2020. New Year's Eve topped the list with $89.4 million in sales, followed by Green Wednesday at $87.4 million. Interestingly, traditional high-sales days like 4/20 and the Friday before Memorial Day did not make the top 10 due to shifts in consumer behavior during the COVID-19 pandemic. The report also provides insights into sales by product type and demographics, with flower making up 45% of total sales. Akerna has tracked over $20 billion in cannabis sales since its inception.

Akerna (Nasdaq: KERN) reported that cannabis sales during the Christmas and New Year holidays reached unprecedented levels. The Christmas week generated $427 million, with the Wednesday before Christmas seeing a 76% increase in daily sales, totaling $87.3 million. New Year's Eve sales hit $89.4 million, making it the largest cannabis sales day of 2020. The average basket size was $72 for adult-use and $124 for medical sales. Akerna has tracked over $20 billion in cannabis sales since inception, underscoring its position as a market leader.

Akerna (Nasdaq: KERN) announced notable success for its MJ Analytics platform, which allows cannabis supply chain analysis. Within 90 days of launch, MJ Analytics generated a six-figure sales increase and reduced manual reporting by 90%, with 95% positive user feedback. The platform has processed 5.1 million queries, averaging 3.6k daily. Akerna has signed 40 clients for Premium Analytics. With Domo's business intelligence, MJ Analytics provides valuable insights, indicating strong demand as new cannabis markets emerge.

Akerna (Nasdaq: KERN) projects a significant increase in cannabis sales during the holiday season, estimating $400 million in sales from December 18-24, 2020. The Friday before Christmas is expected to see a 74% sales surge, making it the largest sales day of the month. New Year's Eve sales are anticipated to top $81 million, with consumers spending an average of $79 for adults and $121 for medical patients. The report shows a strong preference for flower products (45%) and reflects demographic trends in purchasing patterns.

Akerna (Nasdaq: KERN) reported a transformational fiscal 2020 with a 16% increase in total revenue and 21% in software revenue. The company achieved numerous industry firsts, including the launch of the world's first secure cannabis product authentication system. Akerna augmented its platform by acquiring Trellis and solo sciences to expand its market reach. Despite challenges, the cannabis sector showed economic resilience during the pandemic, with many jurisdictions recognizing cannabis as essential. Akerna successfully closed a $29 million funding deal to bolster its growth and prepare for expanding markets.

Akerna (Nasdaq: KERN) reports that cannabis consumers spent approximately $238 million during the 2020 Thanksgiving weekend (11/25 – 11/28). Medical consumers averaged $122.64 per basket, up by 5%, while adult-use consumers spent $78.14, marking a 12% increase. Notably, Green Wednesday emerged as the biggest sales day of 2020, with 80% sales growth, surpassing Black Friday's 75% increase. The sales data reveals strong trends among demographics, with notable purchases across various product categories, indicating a robust cannabis market amid the ongoing pandemic.

Akerna (Nasdaq: KERN) anticipates a 78% increase in average daily cannabis sales over Thanksgiving weekend, predicting total sales around $270 million from November 25 to 28, 2020. The average order is projected to be $82.30 for adult-use and $128.46 for medical customers, up by $13 compared to regular days. Sales are expected to be dominated by flower (42%) and cartridges (37%). Gender demographics show male consumers at 64%. This report reflects Akerna's continued growth and the rising demand in the cannabis market.

Akerna (KERN) reported financial results for Q3 2020, showcasing strong growth metrics. Software revenue increased by 40% year-over-year to $3.2 million, with total revenue up 16% to $3.7 million. Gross profit rose 9% to $2.0 million, although the company faced a net loss of $4.7 million, worsening from a $2.3 million loss a year prior. The company anticipates significant market expansion following the election, expecting a potential $18 million increase in total addressable market. Total SaaS ARR climbed 44% to $14.1 million.

Akerna (Nasdaq: KERN) announced a significant victory for the cannabis industry following the 2020 Elections, where all five states voted on cannabis reform passed their initiatives. New Jersey, Arizona, Montana, South Dakota, and Mississippi will establish new adult-use and medical cannabis markets. This growth is expected to boost the North American cannabis retail sales to $40.3 billion by 2025. Additionally, the cannabis seed-to-sale software market is projected to increase from $330.3 million to $630.4 million in the same timeframe, highlighting Akerna's opportunity for expansion.