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Akerna reported significant financial growth for 2021, with software revenue rising 59% to $19.0 million and total revenue up 49% to $20.7 million year-over-year. The company achieved a gross profit of $12.6 million, reflecting a 67% increase, and a gross profit margin of 61%. Despite these gains, Akerna incurred an operating loss of $33.4 million, slightly higher than the previous year. A notable achievement includes a 32% improvement in adjusted EBITDA loss. Cash and restricted cash stood at $14.4 million as of December 31, 2021, preparing Akerna for new market expansions.
Akerna (Nasdaq: KERN) will report its financial results for Q4 and full-year 2021 on March 21, 2022. Following the results, a conference call is scheduled for March 22, 2022, at 8:30 AM ET, where management will present findings and engage in a Q&A session. Akerna is recognized as a leading SaaS company serving the cannabis industry, with its MJ Platform providing essential technology solutions. The company emphasizes its commitment to compliant operations leveraging connected data.
Akerna (Nasdaq: KERN) reports a 3.3% increase in women's market share in cannabis sales since 2019, now at 38.3%. The trend shows a shift in product preferences, with flower (45.2%) and cartridges (34.4%) leading sales among women. Concentrates have surpassed edibles, highlighting evolving consumer habits. Notably, younger women prefer concentrates, while older demographics favor infused edibles. Average spending per medical order is $123.41, compared to $76.80 for adult-use. Akerna emphasizes the importance of targeting women in product marketing to capitalize on this growing segment.
Akerna (Nasdaq: KERN) has released its annual Cannabis Industry Year-End Review, highlighting the resilient growth of the cannabis market in 2021. The report, authored by industry experts, delves into capital markets, consumer trends, and marketing strategies while providing insight into the legalization efforts across the U.S. CEO Jessica Billingsley noted that the year saw increased spending and consumer engagement in the sector. The review serves as a comprehensive resource for stakeholders navigating the evolving cannabis landscape.
Akerna (Nasdaq: KERN) announced the appointment of Ray Thompson as President and COO effective January 20, 2022. Thompson, who has served as COO since 2018, brings extensive experience, especially in overseeing operations and integrating six acquired companies. His leadership is credited with aligning internal processes and expanding product offerings. CEO Jessica Billingsley expressed confidence in leveraging Thompson's expertise for future growth, emphasizing Akerna's unique position in the cannabis industry.
Akerna (Nasdaq: KERN) will participate in the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 10:00 am ET. CEO Jessica Billingsley and CFO John Fowle will present on Track 6 during the event. Investors are invited to schedule one-on-one meetings by contacting IR@akerna.com. Akerna, a leader in cannabis software solutions, has tracked over $30 billion in cannabis sales and empowers industry stakeholders with its MJ Platform. The investor presentation will be available post-event at ir.akerna.com.
Akerna (Nasdaq: KERN) announced the top five cannabis sales days of 2021, revealing that the total sales exceeded $493 million. The largest sales day, 420 (April 20), generated $111.8 million, marking a 25% increase from the previous year. Other notable sales days include Black Friday and Green Wednesday with $99 million and $98.2 million respectively. This data highlights consistent growth in cannabis sales, as noted by CEO Jessica Billingsley, despite ongoing market challenges.
Akerna (Nasdaq: KERN) reports that US shoppers are projected to spend $373 million on cannabis products during the Christmas and New Year's holidays. On December 23rd, spending is estimated at $87 million, with $97 million expected on Christmas Eve. Pre-New Year's sales are anticipated to reach $189 million, with New Year's Eve alone projected at $100 million. James Ahrendt, Akerna's Business Intelligence Architect, emphasizes the importance of shopping at local cannabis retailers amidst current supply chain issues.
Akerna (Nasdaq: KERN), a leader in cannabis enterprise software, will participate in the NCIA Cannabis Business Summit & Expo 2021 and CannaVest West on December 16-17 in San Francisco, CA. The event features industry networking, panel discussions, and presentations. CFO John Fowle will speak on investment opportunities in the cannabis sector. Akerna’s subsidiary MJ Freeway will exhibit at booth #427. Management invites investors for one-on-one meetings. For registration details and a 20% discount, visit the links provided in the release.
Akerna Corp. (Nasdaq: KERN) addressed investor concerns regarding the use of "Cashless ATMs" in the cannabis industry. The Company clarified that it does not offer Cashless ATM products and has never generated revenue from such transactions. Akerna emphasized compliance with banking regulations and highlighted that Cashless ATMs, used to disguise cannabis purchases, could jeopardize the industry's legitimacy. The company provides alternative cannabis payment solutions through partners like Hypur and Tendr. Akerna aims to support regulatory adherence and maintain a transparent supply chain in the cannabis sector.