Welcome to our dedicated page for Akerna news (Ticker: KERN), a resource for investors and traders seeking the latest updates and insights on Akerna stock.
Akerna Corp. (symbol: KERN) is a forward-thinking technology company specializing in software solutions for the cannabis industry. Established in 2010, the company has rapidly grown to become an industry leader, offering comprehensive data and consulting services tailored specifically for cannabis businesses. Akerna's flagship technology, MJ Freeway®, processes over $5 billion in cannabis sales transactions and serves clients across the United States, Canada, Europe, and Australia.
The core of MJ Freeway's offerings is a patented seed-to-sale supply chain ERP platform. This platform leverages sophisticated business intelligence insights to help cannabis businesses manage their operations more efficiently and stay compliant with regulatory requirements. Additionally, MJ Freeway's Leaf Data Systems technology empowers governments to monitor cannabis production and distribution, preventing diversion and ensuring the safety of patients, the public, and products.
In terms of consulting, MJ Freeway offers a complete suite of services designed to assist cannabis businesses in optimizing their operations, from initial setup to scaling their ventures. These consulting services provide expert guidance on navigating the complexities of the cannabis industry, ensuring that businesses are well-positioned for success.
Recently, Akerna has embarked on a series of strategic moves to enhance its market presence. Notably, the company is involved in proposed transactions with Gryphon Digital Mining, Inc. and MJ Acquisition Co. These transactions are expected to close around January 31, 2024, subject to necessary approvals and conditions. Gryphon Digital Mining is a notable player in the Bitcoin space, focusing on integrating digital assets into the clean energy grid with a net carbon-negative strategy.
Financially, Akerna remains committed to managing its operational expenses and navigating the costs associated with these proposed transactions. The company actively engages with investors and stakeholders, providing transparency through regular filings with the U.S. Securities and Exchange Commission (SEC).
For more information about Akerna Corp. and its innovative solutions for the cannabis industry, visit their official website at Akerna.com or contact their Investor Relations department at (516) 419-9915.
Akerna Corp. (Nasdaq: KERN) has adjourned its 2022 annual meeting of stockholders to May 23, 2022, at 9 a.m. MT. The record date remains March 31, 2022. Stockholders who have not voted are encouraged to do so by May 22, 2022. Proxies representing approximately 58% of the outstanding shares were submitted, allowing for quorum. Proposals for director elections and several others were approved, but the proposal to increase the number of authorized shares did not receive sufficient support. Approval of this proposal is essential for the company to meet financial obligations and raise capital.
Akerna (KERN) reported significant financial growth for Q1 2022, with total revenue increasing by 73% year-over-year to $7.0 million.
Software revenue rose 71% year-over-year, reaching $6.5 million, and gross profit improved 85% to $4.7 million, enhancing gross profit margin to 68%.
Despite these gains, the company reported an increased net loss of $22.0 million, up 15.5 million year-over-year. Akerna's Committed Annual Recurring Revenue (CARR) was $21.1 million, marking a 35% year-over-year increase.
Akerna Corp. (Nasdaq: KERN) urges stockholders to vote FOR key proposals ahead of the May 13, 2022 annual meeting. Approved proposals include the election of directors and an increase in authorized shares from 75 million to 150 million. This increase aims to facilitate a $20 million convertible debt financing and a $17 million acquisition of 365 Cannabis, ensuring company obligations are met without impacting available cash. Institutional Shareholder Services has recommended a vote in favor of these proposals, which are deemed crucial for the company's future growth and shareholder value.
Akerna (Nasdaq: KERN), a leader in enterprise software for the cannabis industry, announced participation in several upcoming events. Key conferences include Hall of Flowers (May 4-5), Trailblazers (May 9-11), and MJ Unpacked (May 18-20). Akerna's technology supports compliance and sales tracking in the cannabis sector. The company has tracked over $30 billion in cannabis sales since its inception in 2010. Akerna also offers a suite of consulting services and data analytics for the industry.
Akerna (Nasdaq: KERN) will report its financial results for Q1 2022 on May 9, 2022, after market close. A conference call will follow on May 10, 2022, at 8:30 AM ET, where management will discuss the results and answer questions. Interested parties can join by phone or via a live webcast. Akerna is a SaaS company focused on the cannabis industry and has tracked over $30 billion in cannabis sales to date.
Akerna (Nasdaq: KERN) reported record cannabis sales on April 20, 2022, reaching $154.4 million in a single day, marking a 38.1% increase from last year. The six-day period around the holiday generated total cannabis retail sales of $485.3 million across the US. Notably, women shoppers accounted for over 40% of the sales. The company's predictive analytics showed a -1.79% variance from projected sales. As cannabis legalization spreads, Akerna anticipates continued growth in market share and sales across demographics.
Akerna (Nasdaq: KERN) forecasts that U.S. cannabis sales will reach nearly $130 million on April 20, 2022, marking the largest sales day in legal cannabis history. This represents a 16% increase from last year's sales of $112 million. Over the six days leading up to 420, total cannabis sales are projected to exceed $400 million. Akerna’s MJ Retail POS solution is expected to help retailers manage the increased traffic. Additionally, significant sales are anticipated across various product categories, with men making up 61% of purchasers and consumers under 30 accounting for 30%.
Akerna (Nasdaq: KERN) announced that its MJ Freeway Cannabis Consulting team achieved a 100% success rate in winning cannabis license applications for clients in New Jersey. This win adds to their impressive track record, with similar success in three other states and victories in over a dozen states overall. With 30+ years of combined experience, the consulting team aims to help clients navigate the competitive cannabis market and capitalize on new opportunities from ongoing legalization efforts.
Akerna (Nasdaq: KERN) released a letter from CEO Jessica Billingsley, highlighting the cannabis industry's resilience during the pandemic and the anticipated federal legalization in the U.S. The company reported a 51% increase in Committed Annual Recurring Revenue (CARR), reaching $20.9M as of December 31, 2021. Additionally, Q4 bookings hit a record $1.5M, reflecting over a 50% increase from the previous quarter. Akerna aims to enhance its enterprise software solutions and prepare for both domestic and international market expansions.
Akerna (Nasdaq: KERN) will participate in three upcoming cannabis industry conferences: the Green Growth Summit on April 6, 2022, the Cantor U.S. Cannabis Conference from April 12-14, 2022, and the Oppenheimer 7th Annual Emerging Growth Conference on May 10, 2022. CEO Jessica Billingsley will speak on a panel at the Green Growth Summit and discuss technology services at the Cantor Conference. Akerna has tracked over $30 billion in cannabis sales, offering advanced software solutions for the cannabis industry.
FAQ
What is the market cap of Akerna (KERN)?
What is Akerna Corp.?
What is MJ Freeway?
Where does Akerna operate?
What are Akerna's recent achievements?
What consulting services does Akerna offer?
What is Leaf Data Systems?
How does Akerna support regulatory compliance?
What are the details of Akerna's proposed transactions?
How can investors obtain more information?
What is Gryphon Digital Mining?
