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 (Nasdaq: KERN) announced the acquisition of 365 Cannabis for $17 million, valuing the deal at 2.1x LTM revenue. This acquisition aims to enhance Akerna's enterprise resource planning (ERP) solutions for the cannabis industry. Following the deal, 365 Cannabis' 85+ clients will gain access to Akerna's compliance tools and integrated financial systems. The acquisition will be funded through $4 million in cash and $13 million in stock, with a potential earnout of $8 million. Akerna expects the deal to close in Q4, subject to customary conditions.
Akerna (Nasdaq: KERN) reported that September 3, 2021, marked the second-largest day for national cannabis retail sales, totaling $90.1 million. Over the Labor Day weekend (September 3-6), sales reached $234.8 million, with the highest sales day on September 3. Sales data reveals significant consumer behavior trends, with males comprising 61.4% of sales and the 30-40 age group leading purchases. The company emphasizes leveraging analytics for optimized retail strategies, aiming to enhance customer loyalty and sales performance.
Akerna (Nasdaq: KERN) forecasts over $240 million in legal cannabis sales during the Labor Day weekend, from September 3 to 6. Sales are expected to peak at $90 million on Friday, September 3, a 62% increase from the daily average. This is projected to be the second-highest sales day of 2021. Other anticipated sales include $69 million on Saturday, $39 million on Sunday, and $42 million on Labor Day. Factors influencing sales trends include increased spending, higher average order totals, and demographic shifts.
Akerna (Nasdaq: KERN) announced the launch of Akerna Connect, a new eCommerce software aimed at enhancing digital capabilities for cannabis retailers and dispensaries. This platform provides tools for online ordering, loyalty programs, and personalized marketing, enabling businesses to engage customers beyond physical locations. In addition, over a dozen cannabis businesses are already successfully utilizing this technology, which is designed to meet industry-specific regulatory needs. CEO Jessica Billingsley emphasized its role in boosting sales and customer engagement.
Akerna (KERN) reported a strong second quarter for 2021, achieving total revenue of $4.9 million, a 63% increase year over year. Software revenue rose to $4.5 million, reflecting a 56% growth. Notable highlights included a gross profit of $3 million, up 153%, and an improvement in Adjusted EBITDA to negative $1.6 million from negative $3.6 million. The company secured its first national cannabis contract with St. Vincent and the Grenadines and reported cash of $11.8 million. Akerna's SaaS ARR reached $17.3 million, up 53% year over year.
Akerna (Nasdaq: KERN) has announced a partnership with the Medicinal Cannabis Authority (MCA) of St. Vincent and the Grenadines to implement a national CRM software system. This initiative aims to standardize and simplify the documentation process within the medicinal cannabis industry, enhancing regulatory compliance and user experience for physicians, pharmacists, and patients. The project is expected to establish a model for other countries and improve data management in line with local laws and international standards, promoting the industry’s growth in the Caribbean.
Akerna (Nasdaq: KERN) announces that Jessica Billingsley, co-founder and CEO, has been elected Chair of the US Cannabis Council (USCC). The USCC aims to raise ethical standards, achieve restorative justice, and create a well-regulated cannabis industry. Billingsley's leadership includes pioneering cannabis technology and leading Akerna through four acquisitions. The USCC supports the Cannabis Administration and Opportunity Act, which seeks to legalize cannabis federally and improve regulations. Akerna has tracked over $20 billion in cannabis sales since 2010.
Akerna (Nasdaq: KERN), a leader in cannabis compliance technology, will report its Q2 financial results for the period ending June 30, 2021, on August 9, 2021. Akerna will also host a conference call on August 10, 2021, at 8:30 a.m. ET to discuss the results and company highlights. Akerna has notably tracked over $20 billion in cannabis sales and is the first cannabis software company to be listed on Nasdaq. The company provides enterprise solutions for the cannabis, hemp, and CBD sectors, including its MJ Platform ERP software.
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.
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