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) reported that July 2, 2021, marked the second-largest cannabis sales day of the year, generating $89.6 million in retail sales, trailing only behind the 420 holiday. The total cannabis sales for the holiday weekend amounted to approximately $182.6 million, with flower products leading at 48.5% of sales. The majority of customers were male (62%), and the average spend per order was $125.15 for medical users and $79.70 for adult use. Akerna's MJ Platform serves as a pivotal analytics tool for the cannabis industry, helping operators make data-driven decisions.
Akerna (Nasdaq: KERN) anticipates over $206 million in legal cannabis sales for the upcoming 4th of July weekend, with Friday, July 2nd, expected to generate $91 million, marking a 60% increase from the average. Historical data indicates a 23% year-over-year rise in purchases for this holiday period. Predictions suggest Saturday, July 3rd, will bring in $72 million, while Sunday, July 4th, is estimated at $43 million. The average order total is expected to be $109, with a basket size of 3.6 products.
Akerna (Nasdaq: KERN) forecasts Alabama will generate $600 million in medical cannabis retail sales during its first three years post-legalization. Following the state's legalization in May, Akerna analyzed sales trends and projected annual revenues of $48 million, $163 million, and $387 million in the first, second, and third years, respectively. The report highlights the economic potential of cannabis in southern states, with Virginia projected to reach a total of $1.3 billion in cannabis retail sales over three years.
Akerna (Nasdaq: KERN) reported that the Memorial Day weekend (May 28-31, 2021) generated over $234,300,000 in cannabis sales, with May 28 being the third-largest sales day of the year at nearly $87,000,000. Notable sales included $111,000,000 on 420 and $89,000,000 on St. Patrick's Day. Key demographics show that 62% of buyers were male, and the average order total was $117.76. Akerna predicted sales trends with over 98% accuracy, indicating strong market activity during holidays.
Akerna (Nasdaq: KERN) projects strong sales for the cannabis industry over Memorial Day weekend, estimating around $238 million in total sales from May 28-31. The highest sales day is expected to be Friday, with $85 million in revenue, indicating a 55% increase from typical Friday sales. Notably, consumers under 40 will drive 61% of these sales. Other highlights include a 22% increase in products per purchase and a predicted average order total increase of $7. However, sales on Monday are expected to drop by 9% from average figures.
Akerna (KERN) reported its financial results for Q1 2021, showing a 62% year-over-year growth in software revenue, totaling $3.8 million. Total revenue reached $4.0 million, up 31% year-over-year. However, the company recorded a net loss of $6.3 million, compared to $4.8 million in the previous year. Cash reserves decreased to $15.4 million from $17.8 million. Notably, the company acquired Viridian Sciences and posted strong metrics, including a 73% increase in SaaS ARR, reaching $15.7 million. Akerna is positioned for future growth amid evolving cannabis regulations.
Akerna (Nasdaq: KERN) will announce its first quarter financial results for the period ending March 31, 2021, on May 10, 2021. The company provides compliance technology and enterprise resource planning (ERP) software for the cannabis industry, having tracked over $20 billion in cannabis sales. Akerna will host a conference call on May 11, 2021, at 8:30 a.m. Eastern Time to discuss these results. Investors can participate via a toll-free number or access the call through the company’s website.
Akerna (Nasdaq: KERN) announced record cannabis sales on April 20, with total sales reaching approximately $111,815,824 for medical and adult-use cannabis, marking the highest sales day ever recorded. The five days surrounding 420 saw total gross sales exceeding $373,787,685. This boost is attributed to increased consumer adoption and a greater emphasis on technology in cannabis retail. The recent passage of the SAFE Banking Act in the House could also signal a potential positive shift for the industry.
Akerna (Nasdaq: KERN) reported record cannabis sales on April 20, 2021, with approximately $11,815,824 in total sales, marking the highest sales day for retail cannabis ever. The five-day period from April 16-20 generated over $373,787,685. Increased sales reflect consumers' growing reliance on cannabis, tech integration in dispensaries, and potential federal reforms. Akerna's MJ Platform accurately predicted the surge in sales, emphasizing its data analytics capabilities. The cannabis industry is expected to benefit from ongoing legislative changes, including the SAFE Banking Act.
Akerna (Nasdaq: KERN) announced changes to its Board of Directors, effective at the annual stockholders meeting on June 7, 2021. Mark D. Iwanowski will conclude his two-year service, credited with strategic guidance and significant growth. Barry Fishman, a seasoned executive with extensive experience in the pharmaceutical and cannabis sectors, is nominated to join the board, aiming to enhance Akerna's growth trajectory. This leadership transition highlights Akerna's commitment to strengthening its governance amid the evolving cannabis technology landscape.
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