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) forecasts that the cannabis retail sales on the unofficial holiday, April 20, will reach $95 million nationally. Consumers are expected to spend an average of $105 per order, purchasing an average of 3.69 products. The sales surge will commence from April 16, culminating in a total of $370 million in sales over five days. Flower will dominate sales at 49%, followed by cartridges and pens at 31%.
Retailers are urged to prepare for increased traffic and sales.
Akerna (Nasdaq: KERN) has completed the all-stock acquisition of Viridian Sciences, a cannabis management software firm built on SAP Business One. This deal is expected to enhance Akerna's revenue and earnings while providing cost synergies. The acquisition allows Akerna to offer the first and only cannabis solutions with SAP Business One, integrating financial capabilities with its compliance solutions. Viridian's clients will benefit from Akerna's comprehensive services, including MJ Platform and compliance tools, solidifying Akerna's position as a leading technology provider in the cannabis sector.
Akerna (Nasdaq: KERN) announced that March 17, 2021, coinciding with the distribution of $1,400 stimulus checks, marked the largest cannabis sales day of the year, generating over $89 million, 50% higher than previous Wednesdays. Following days also saw increased sales, totaling over $230 million from March 17-19. Average order sizes grew, with medical purchases up 20% and recreational up 16%. Flower remains the most purchased product, capturing 45% of sales. The data highlights emerging consumer trends, particularly among female buyers and younger demographics.
Akerna (KERN) reported its Q4 2020 financial results, highlighting a 38% increase in software revenue to $3.4 million and a 24% rise in total revenue to $4.1 million year-over-year. Despite a net loss of $12.2 million, up from a loss of $3.8 million a year prior, adjusted EBITDA improved to ($1.9 million). The company transitioned to a fully remote workforce, closed offices, and reduced operating costs. Akerna's SaaS annual recurring revenue reached $13.8 million, reflecting a 42% growth, while MJ Platform transaction volume surged 63% year-over-year.
Drop Delivery has established its advisory board, comprising industry experts Jessica Billingsly, Kristen Jordan, and Cynthia Salarizadeh, aiming to enhance its growth trajectory. The company experienced significant growth, with a 280% increase in its customer base and a 290% rise in revenue in Q1 2021 compared to Q1 2020. CEO Vanessa Gabriel emphasized the board's potential contributions as Drop Delivery continues to refine its technology solutions for cannabis delivery and retail businesses across the U.S.
Akerna (Nasdaq: KERN) will announce its financial results for Q4 ended December 31, 2020, on March 22, 2021. A conference call is scheduled for March 23, 2021, at 8:30 a.m. ET, to discuss these results. Akerna is a leading compliance technology provider in the cannabis industry, with its MJ Platform tracking over $20 billion in cannabis sales since its launch in 2010. This event is significant for investors following Akerna's performance as it prepares to reveal its latest financial data and business developments.
Akerna (Nasdaq: KERN) announced its acquisition of Viridian Sciences, a cannabis business management software built on SAP Business One. This all-stock transaction is expected to enhance revenue, earnings, and cash flow. The acquisition will integrate Viridian's 30+ clients with Akerna's Compliance Gateway and MJ Retail app. Akerna aims to solidify its position as the only cannabis-compliant SAP Business One provider, with plans to close the deal in April 2021. The company has changed its fiscal year-end from June 30 to December 31.
In a recent report, Akerna (Nasdaq: KERN) reveals that due to the impact of the Covid-19 pandemic, cannabis consumers are spending significantly more. Average recreational purchases rose to $60 from $48, while medical purchases increased to $123 from $100. Additionally, the number of products purchased per visit has grown, with recreational customers averaging 2.6 items and medical customers 3.02. This trend highlights a booming market for cannabis despite economic challenges, urging businesses to adapt their marketing strategies.
Akerna (Nasdaq: KERN) reported significant findings from the 2021 Valentine's Day weekend, highlighting a growing trend of female cannabis consumers. Women accounted for 38.2% of total sales, rising from 35% in 2020, and spent 45% of their cannabis budget on flower, a notable increase from 35% the previous year. Total cannabis spending reached approximately $170 million during the weekend. Notably, flower sales made up 48% of total purchases, with women leading this trend. The data suggests that cannabis brands may need to tailor their products to effectively target female consumers.
Akerna (Nasdaq: KERN) announced that its MJ Platform connector v1.0 has achieved SAP certification, validating its integration with SAP NetWeaver. This certification enhances Akerna’s ERP offerings by allowing users to track financial data across multiple facilities. The integration with SAP's ERP 6.0 will support enterprise-level cannabis clients, ensuring compliance and inventory management. CEO Jessica Billingsley stated this positions Akerna as a leader in cannabis software solutions. Akerna has tracked over $20 billion in cannabis sales since its inception in 2010.
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