Akerna Corp. - KERN STOCK NEWS

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.