AKERNA CORP WTS - KERNW STOCK NEWS

Akerna (Nasdaq: KERN) reported a remarkable 12.7% year-over-year growth in cannabis sales during the Thanksgiving weekend, totaling over $289 million. Key sales days include Green Wednesday, achieving $116.4 million in sales, and Black Friday, nearing $115 million. Green Wednesday sales climbed 16% year-over-year, while Black Friday sales increased by 14%. The sales growth reflects the cannabis industry's integration into holiday shopping traditions and emphasizes the importance of brand differentiation.

Akerna (Nasdaq: KERN) reported Q3 2022 financial results with software revenue of $5.3 million, a 17% increase year-over-year, contributing to total revenue growth of 5% to $5.4 million. Gross profit remained stable at $3.4 million, representing 62% of revenues. Although the company recorded a net loss of $2.3 million, it improved Adjusted EBITDA losses to $1.4 million. Akerna's Annual Recurring Revenue (CARR) reached $16.9 million, a 3% increase. Strategic measures include exploring financial options and addressing compliance via a 20-for-1 reverse stock split.

Akerna (Nasdaq: KERN) announced a 20-for-1 reverse stock split effective November 8, 2022, to comply with Nasdaq's minimum bid price requirement. The reverse split will reduce the number of common shares from approximately 80.4 million to around 4.0 million, while the overall share structure remains unchanged. All outstanding securities will be adjusted accordingly, and no fractional shares will be issued. Akerna aims to enhance its market presence and improve stock performance following the split.

Akerna (Nasdaq: KERN) will report its third quarter financial results for the period ending September 30, 2022, on November 14, 2022, before market open. Following the financial report, management will host a conference call at 11:00 AM ET, including prepared remarks and a live Q&A session. Interested participants can join via phone or listen to the webcast on Akerna's Investor Relations website. Established in 2010, Akerna serves the cannabis industry with its MJ Platform, tracking over $20 billion in cannabis sales.

Akerna (Nasdaq: KERN) reported cannabis sales of $249.6 million over Halloween weekend, a 6% increase from the previous year. This period is historically significant for cannabis sales, with the Friday before Halloween being a top sales day for 2022. The growth aligns with an overall rise in retail spending, as noted by the National Retail Federation. Akerna's CEO Jessica Billingsley highlighted the need for operators to efficiently differentiate and prepare for holiday demand, utilizing available data tools for inventory and staffing.

Akerna Corp. (Nasdaq: KERN) has announced a securities purchase agreement with institutional investors, involving the sale of 400,000 shares of Series A and 100,000 shares of Series B convertible redeemable preferred stock at $9.50 each. This results in gross proceeds of $5.0 million. The preferred stocks can be converted into common stock at an initial price of $0.25 per share, contingent upon shareholder approval for a reverse stock split. The offering's closing is anticipated on October 4, 2022, pending customary conditions. A.G.P./Alliance Global Partners acts as the exclusive financial advisor.

Akerna (Nasdaq: KERN) reports that consumer spending on cannabis during Labor Day weekend remained roughly flat year-over-year, totaling $229.8 million. This marks a 2% decrease from last year's spending, attributed to fewer shoppers and smaller purchase sizes. Despite being resilient, the cannabis market is not entirely immune to economic shifts. Akerna emphasizes the need for cannabis brands to focus on differentiation and efficient production. Key categories such as flower and cartridges saw slight increases, while infused edibles and other categories declined.

Akerna (Nasdaq: KERN), a leader in cannabis software, announced that CFO Dean Ditto will present a corporate overview at the 24th Annual H.C. Wainwright Global Investment Conference, scheduled for September 12-14, 2022. The presentation will be available on-demand starting September 12 at 7:00 a.m. ET for registered attendees. Since its launch in 2010, Akerna has tracked over $30 billion in cannabis sales, positioning itself as the first cannabis software company listed on Nasdaq. The company's MJ Platform services the entire cannabis supply chain.

Akerna (Nasdaq: KERN) reported its Q2 2022 financial results, highlighting a 33% increase in software revenue to $5.9 million and a 24% rise in total revenue to $6.1 million. The company achieved a gross profit of $4.2 million for a 69.8% margin, up from 60.9% year-over-year. However, Akerna experienced a significant net loss of $29.6 million, influenced by a $24.1 million impairment of long-lived assets. CARR reached $18.9 million, reflecting a 9% growth year-over-year, while cash stood at $14.1 million. The company anticipates material improvements from cost-saving measures in Q3.