ANNA
Black Amber, Cherry Diesel, Georgia Pie, Miracle Alien Cookies, Oui Oui, Platinum Kush Breath, Sour Diesel, Sugar Rush #2, Yuk Mouth
Bud Board
Cherry Hills, Durban Kush #8, KPF, SNX, Sueno, Veritas Cookies
Buku Loud
A-Bay Bay, Apples & Bananas, Bubba Berry, Cherry Hills, Durban Kush #8, Marshmallow OG #9, Muffinz Breath #1, OZ Kush, SNI
COS Confidential
Apples & Bananas, Bubba Berry, Cherry Hills, Durban Kush #8, Oui Oui, SNI
Canna Cabinet
Blueberry Lemonade, Bubba Berry, Cherry Diesel, Divine Kush Breath, Glitter Bomb, Marshmallow OG #9, OG Sin, Oui Oui, PAY, Passionfruit, Platinum Kush Breath, SNI, SNX, Slurricane, Tangidos, Watermelon Sorbet, Woosah, Yuk Mouth
Cannabicare
Apples & Bananas, Black Amber, Bubba Berry, Cherry Diesel, Georgia Pie, Miracle Alien Cookies, Platinum Kush Breath, Sugar Rush #2, Yuk Mouth
Cherry Peak
Bubba Berry, Cherry Diesel, Cherry Hills, Divine Kush Breath, Durban Kush #8, Marshmallow OG #9, Miracle Alien Cookies, OG Sin, Oui Oui, PAY, Passionfruit, Platinum Kush Breath, SNI, SNX, Sherb Crasher, Slurricane, Sugar Rush #2, Triangle OG, Watermelon Sorbet, Woosah, Yuk Mouth
Colorado Harvest Company
Cherry Diesel, Durban Kush #8, Georgia Pie, LCS, Marshmallow OG #9, PAY, Passionfruit, Platinum Kush Breath, SNI, SNX, Slurricane, Sour Rado, Watermelon Sorbet, Woosah, Yuk Mouth
Dark Matter
Cherry Hills, Durban Kush #8, KPF, SNX, Sueno, Veritas Cookies
Denver Kush Club
Oui Oui, SNX, Sour Rado
Euflora
Divine Kush Breath, Passionfruit, Watermelon Sorbet
Green Dragon
A-Bay Bay, Black Amber, Bordeaux #5, Cookies N Cream, Durban Kush #8, Fubar, Georgia Pie, Grape Gasoline S1, LCS, Miracle Alien Cookies, SNI, Sherb Crasher, Slurricane, Sour Rado, Sugar Rush #2, Tart Pops #4, Woosah
Green World
Cherry Hills, Marshmallow OG #9, PAY, Woosah
High Class
Sueno, Veritas Cookies
High Octane
Grape Gasoline S1, OG Sin, SNX, Woosah, Yuk Mouth
Karmaceuticals
Durban Kush #8, PAY, Passionfruit, SNI, Watermelon Sorbet
LivWell- Broadway
Apples & Bananas, Bananaghani, Blueberry Lemonade, Bubba Berry, Circus Act, Durban Kush #8, Malibu Mirage, Marmot OG, Medellin, Melonade #8, Muffinz Breath #1, Oui Oui, Sour Apple, Strawberries N Cream, Turnt
LivWell- Broomfield
Malibu Mirage, Mating Call, Medellin, Melonade #8, Oui Oui, Sour Apple, Tangidos, Triangle OG
LivWell- Buckley
A-Bay Bay, Blueberry Lemonade, Bubba Berry, Cherry Punch, Forza Sans Souci #4, Glitter Bomb, Grape Gasoline S1, Malibu Mirage, Mating Call, Medellin, Melonade #8, Miracle Alien Cookies, Muffinz Breath #1, OG Sin, Oui Oui, Platinum Kush Breath, Sour Apple, Strawberries N Cream, Sueno, Tangidos, Toxic Boo, Triangle OG, Yuk Mouth
LivWell- Central Park
Bubba Berry, Durban Kush #8, Malibu Mirage, Medellin, Melonade #8, OG Sin, Sour Apple, Tangidos, Tart Pops #4, Woosah
LivWell- Colfax/City Park
Blueberry Lemonade, Bubba Berry, Medellin, Strawberries N Cream, Sueno, Turnt
LivWell- Colorado Blvd
Bubba Berry, Mating Call, Medellin, Melonade #8, Strawberries N Cream, Street Urchin, Tangidos, Tart Pops #4
LivWell- Commerce City
Apples & Bananas, Bubba Berry, Glitter Bomb, Malibu Mirage, Mating Call, Medellin, Melonade #8, Strawberries N Cream, Street Urchin
LivWell- Cortez
Apples & Bananas, Bubba Berry, Cherry Diesel, Glitter Bomb, Grape Gasoline S1, Mating Call, Medellin, Melonade #8, Muffinz Breath #1, Oui Oui, Shock Tart, Strawberries N Cream, Street Urchin, Toxic Boo, Triangle OG, Turnt, Yuk Mouth
LivWell- Evans
Blueberry Lemonade, Bubba Berry, Glitter Bomb, Malibu Mirage, Mating Call, Medellin, Melonade #8, Muffinz Breath #1, Oui Oui, Sour Apple, Sueno, Tangidos, Toxic Boo, Triangle OG, Turnt
LivWell- Federal Heights
Apples & Bananas, Bananaghani, Bubba Berry, Fubar, Glitter Bomb, Malibu Mirage, Medellin, Melonade #8, Oui Oui, Shock Tart, Sour Apple, Strawberries N Cream, Tangidos, Toxic Boo, Triangle OG, Yuk Mouth
LivWell- Ft Collins
A-Bay Bay, Apples & Bananas, Bananaghani, Blueberry Lemonade, Bubba Berry, Cherry Punch, Durban Kush #8, Electric Lemonade, Forza Sans Souci #4, Fubar, Glitter Bomb, Grape Gasoline S1, Malibu Mirage, Marmot OG, Mating Call, Medellin, Melonade #8, Muffinz Breath #1, OG Sin, Oui Oui, Pancakes, Platinum Kush Breath, Sherb Crasher, Sour Apple, Sour Rado, Strawberries N Cream, Sueno, Sunset Drive, Tangidos, Tart Pops #4, Toxic Boo, Triangle OG, Turnt, UNI, Woosah, Yuk Mouth
LivWell- Garden City
A-Bay Bay, Apples & Bananas, Bananaghani, Blueberry Lemonade, Bubba Berry, Cherry Diesel, Cherry Punch, Circus Act, Durban Kush #8, Electric Lemonade, Fubar, Glitter Bomb, Grape Gasoline S1, Malibu Mirage, Marmot OG, Mating Call, Medellin, Melonade #8, Muffinz Breath #1, OG Sin, Oui Oui, Pancakes, Platinum Kush Breath, Sherb Crasher, Sour Apple, Sour Diesel, Sour Rado, Strawberries N Cream, Street Urchin, Sueno, Sunset Drive, Tangidos, Tart Pops #4, Toxic Boo, Triangle OG, Turnt, UNI, Veritas Cookies, Woosah, Yuk Mouth
LivWell- Highlands
Cherry Punch, Durban Kush #8, Malibu Mirage, Medellin, Melonade #8, Shock Tart, Tangidos
LivWell- Lakewood
Bananaghani, Bubba Berry, Fubar, Malibu Mirage, Medellin, Muffinz Breath #1, Oui Oui, Tangidos, Turnt
LivWell- Log Lane
Apples & Bananas, Blueberry Lemonade, Bubba Berry, Fubar, Glitter Bomb, Malibu Mirage, Mating Call, Medellin, Melonade #8, Miracle Alien Cookies, Sour Apple, Strawberries N Cream, Tangidos, Triangle OG
LivWell- Mancos
Bananaghani, Bubba Berry, Cherry Punch, Medellin, Melonade #8, Muffinz Breath #1, Sour Apple, Strawberries N Cream, Street Urchin
LivWell- N 2nd St Berthoud
A-Bay Bay, Apples & Bananas, Bananaghani, Blueberry Lemonade, Bubba Berry, Cherry Punch, Circus Act, Durban Kush #8, Electric Lemonade, Fubar, Glitter Bomb, Grape Gasoline S1, Malibu Mirage, Marmot OG, Mating Call, Medellin, Melonade #8, Miracle Alien Cookies, Muffinz Breath #1, OG Sin, Oui Oui, Platinum Kush Breath, Sherb Crasher, Sour Apple, Sour Rado, Strawberries N Cream, Sueno, Sunset Drive, Tangidos, Triangle OG, Turnt, Veritas Cookies, Yuk Mouth
LivWell- N Pueblo
A-Bay Bay, Apples & Bananas, Bananaghani, Blueberry Lemonade, Bubba Berry, Cherry Punch, Durban Kush #8, Glitter Bomb, Mating Call, Medellin, Melonade #8, Miracle Alien Cookies, Muffinz Breath #1, Oui Oui, Sour Apple, Strawberries N Cream, Toxic Boo, Turnt, Yuk Mouth
LivWell- Park Hill
Cherry Punch, Marmot OG, Medellin, Melonade #8, Oui Oui
LivWell- Peoria St
A-Bay Bay, Apples & Bananas, Bananaghani, Blueberry Lemonade, Bubba Berry, Fubar, Glitter Bomb, Malibu Mirage, Medellin, Melonade #8, Miracle Alien Cookies, Muffinz Breath #1, Oui Oui, Sour Apple, Strawberries N Cream, Sueno, Triangle OG, Turnt, Veritas Cookies
LivWell- S Pueblo
Apples & Bananas, Blueberry Lemonade, Bubba Berry, Georgia Pie, Grape Gasoline S1, Malibu Mirage, Mating Call, Medellin, Melonade #8, Muffinz Breath #1, OG Sin, Toxic Boo, Triangle OG, Turnt
LivWell- Tower Rd
Apples & Bananas, Blueberry Lemonade, Bubba Berry, Georgia Pie, Malibu Mirage, Mating Call, Medellin, Melonade #8, Muffinz Breath #1, Oui Oui, Strawberries N Cream, Tangidos, Triangle OG, Turnt
LivWell- Trinidad
Apples & Bananas, Bubba Berry, Cherry Punch, Durban Kush #8, Malibu Mirage, Medellin, Melonade #8, Miracle Alien Cookies, Oui Oui, Sour Apple, Tangidos
LivWell- Uptown
A-Bay Bay, Blueberry Lemonade, Bubba Berry, Cherry Punch, Glitter Bomb, Medellin, Melonade #8, Muffinz Breath #1, Oui Oui, Strawberries N Cream, Turnt, Woosah
LivWell-RiNo
A-Bay Bay, Apples & Bananas, Bananaghani, Blueberry Lemonade, Bubba Berry, Cherry Punch, Durban Kush #8, Electric Lemonade, Forza Sans Souci #4, Fubar, Glitter Bomb, Grape Gasoline S1, Malibu Mirage, Marmot OG, Mating Call, Melonade #8, Miracle Alien Cookies, Muffinz Breath #1, OG Sin, Oui Oui, Sour Apple, Sour Rado, Strawberries N Cream, Sueno, Sunset Drive, Tangidos, Toxic Boo, Turnt, UNI, Veritas Cookies, Yuk Mouth
Livgreen
Black Amber, Bubba Berry, Cherry Diesel, Cookies N Cream, Durban Kush #8, Georgia Pie, KPF, LCS, Marshmallow OG #9, Miracle Alien Cookies, Oui Oui, PAY, Platinum Kush Breath, SNI, SNX, Sherb Crasher, Slurricane, Sour Rado, Sugar Rush #2, Tart Pops #4, Triangle OG, Woosah, Yuk Mouth
Lucky Monkey Buds
Cherry Diesel, PAY, Platinum Kush Breath, Yuk Mouth
Magnolia Rd
Bubba Berry, Durban Kush #8, Grape Gasoline S1, LCS, Marshmallow OG #9, SNI, Sherb Crasher, Triangle OG, Woosah
Magnolia Road
A-Bay Bay, Apples & Bananas, Bordeaux #5, Bubba Berry, Cherry Diesel, Cookies N Cream, Divine Kush Breath, Durban Kush #8, Fubar, Glitter Bomb, Grape Gasoline S1, LCS, Marshmallow OG #9, OG Sin, Oui Oui, PAY, Platinum Kush Breath, SNI, Sherb Crasher, Shock Tart, Sour Rado, Street Urchin, Tart Pops #4, Triangle OG, Woosah, Yuk Mouth
Makena
Durban Kush #8, LCS, PAY, SNI, Slurricane, Sour Rado, Street Urchin
Medicine Man
Durban Kush #8, Forza Sans Souci #4, PAY, Peach Kush #2, Platinum Kush Breath, SNI, Shock Tart, Tart Pops #4, Woosah, Yuk Mouth
Mellow Harvest
Durban Kush #8, KPF, SNX, Sueno, Veritas Cookies
Native Roots
A-Bay Bay, Apples & Bananas, Black Amber, Bubba Berry, Cherry Diesel, Cherry Hills, Divine Kush Breath, Durban Kush #8, Georgia Pie, Glitter Bomb, Marshmallow OG #9, Miracle Alien Cookies, Muffinz Breath #1, OG Sin, OZ Kush, Oui Oui, PAY, Passionfruit, Platinum Kush Breath, SNI, Strawberries N Cream, Sugar Rush #2, Yuk Mouth
Police and Thieves
Durban Kush #8, LCS, SNI, Sherb Crasher, Triangle OG
RoadRunner
KPF, SNX, Veritas Cookies
Rocky Mountain Blaze
Black Amber, Cherry Diesel, Georgia Pie, Miracle Alien Cookies, Oui Oui, Platinum Kush Breath, Sugar Rush #2, Yuk Mouth
Rocky Mountain Cannasol
A-Bay Bay, Blueberry Lemonade, Glitter Bomb, Grape Gasoline S1, Medellin, Tart Pops #4
Rocky Road Remedies
Black Amber, Cherry Diesel, Cherry Hills, Cookies N Cream, Durban Kush #8, Glitter Bomb, Marshmallow OG #9, Miracle Alien Cookies, Peach Kush #2, Platinum Kush Breath, SNI, SNX, Slurricane, Sour Apple, Sugar Rush #2, Tart Pops #4, Turnt
Roots RX
Muffinz Breath #1, Platinum Kush Breath, SNX, Yuk Mouth
Roots Rx
A-Bay Bay, Fubar, Grape Gasoline S1, LCS, Peach Kush #2, Platinum Kush Breath, Sherb Crasher, Tart Pops #4
Simply Pure
Durban Kush #8, PAY, SNI
Skunked
OG Sin, Oui Oui, Peach Crescendo #2, Platinum Kush Breath, SNX
Solace Meds
Blueberry Lemonade, Divine Kush Breath, KPF, Passionfruit, SNI, SNX, Slurricane, Watermelon Sorbet
Spark Dispensary
Divine Kush Breath, Durban Kush #8, Marshmallow OG #9, PAY, SNI, SNX, Slurricane, Watermelon Sorbet
Standing Akimbo
Apples & Bananas, Cherry Hills, Durban Kush #8, Marshmallow OG #9, Muffinz Breath #1, OZ Kush, PAY, SNI, Sudz, WOF, Wedding Crasher
THE GREEN SOLUTION LLC
Sherb Crasher, Sour Diesel, Sour Rado
The 404 Dispensary
A-Bay Bay, Cookies N Cream, Fubar, Grape Gasoline S1, OG Sin, Oui Oui, SNI, Sour Rado, Woosah, Yuk Mouth
The 64 Store
Apples & Bananas, Bubba Berry
The Dispo
Bubba Berry, Cherry Diesel, Georgia Pie, Grape Gasoline S1, LCS, Marshmallow OG #9, Miracle Alien Cookies, Oui Oui, PAY, Passionfruit, Platinum Kush Breath, SNX, Sherb Crasher, Slurricane, Sugar Rush #2, Tart Pops #4, Triangle OG, Yuk Mouth
The Green Solution
Bordeaux #5, Cherry Diesel, Cherry Hills, Cookies N Cream, Durban Kush #8, Forza Sans Souci #4, Medellin, Miracle Alien Cookies, OG Sin, PAY, Peach Kush #2, SNI, SNX, Sherb Crasher, Slurricane, Sour Diesel, Sour Rado, Street Urchin, Sugar Rush #2, Tart Pops #4, Woosah, Yuk Mouth
The Happy Camper
Divine Kush Breath, Durban Kush #8, Muffinz Breath #1, SNI, Sherb Crasher
The Kind Castle
KPF, LCS, Sour Rado
Third Day Apothecary
Cherry Diesel, OG Sin, Oui Oui, Platinum Kush Breath, Yuk Mouth
Top Crop
Cherry Hills, Durban Kush #8, KPF, SNX, Sueno, Veritas Cookies
Tumbleweed
Divine Kush Breath, Durban Kush #8, Forza Sans Souci #4, SNX, Woosah, Yuk Mouth
Twin Peaks
Bubba Berry, Cherry Diesel, Georgia Pie, Miracle Alien Cookies, Sherb Crasher, Sour Rado, Sugar Rush #2, Triangle OG, Yuk Mouth

September 6, 2022

Battling Inflation: Cannabis Companies Feel the Pinch

Inflation reveals that the cannabis industry isn’t untouchable during economic strife.

KRISTINA ETTER Kristina Etter spent 20 years in corporate IT with a niche in mobile technology and IoT in agriculture. Today, she combines her love of technology with a passion for cannabis as the Editorial Director for Cannabis Tech.

Throughout 2020, the industry surprised everyone by not only surviving the pandemic but actually thriving in it. Even industry legend, Tommy Chong, was surprised by the sudden shift that came with the COVID-19 outbreak, as cannabis was deemed an essential industry in most legal states.

Throughout the pandemic, even as the discussions of recession loomed on the horizon, cannabis continued to shine – raking in record-breaking revenues. According to BDSA data, the cannabis industry surpassed $17 million in sales in 2020 – reflecting a 46% increase over the previous year.

When most other industries were floundering, cannabis flourished. Could the recession and inflation finally be coming for cannabis?

IS INFLATION A FACTOR FOR CANNABIS?

While a recent report from Headset explains how inflation isn’t impacting cannabis as much as other industries, the winds may shift as the industry starts seeing more bankruptcies, closures, and layoffs. Inflation is forcing owners to decide between cutting costs or cutting people in a once untouchable space.

Interestingly, despite the sharp increase in costs for cannabis growers, this graph from Headset shows that cannabis prices have stayed relatively steady or even decreased in some markets.

recent article on Leafly suggests that unstable pricing is merely an economics equation. During the height of the pandemic, cultivators ramped up production to keep up with the increased demand. But, as inflation cuts into consumer pocketbooks, demand has declined, and competition is intense to sell off the excess inventory. In other words, the market is flooded.

Bloomberg quoted BTIG analyst, Camilo Lyon, calling the current state of cannabis a “regulatory recession,” describing it with this statement, “Cannabis, with its many federal and state regulatory restrictions still in place, has been driven into recession by slow-moving policy changes.”

But, another report from GreenGrowth CPAs suggests the industry can’t continue to withstand the impact of inflation much longer. Of the 700 cannabis companies evaluated with this survey, 70% claimed they were attempting to absorb the additional expense, and 30% plan to raise prices.

CANNABIS TECH COMPANIES STRUGGLING

Layoffs and business closures are unfortunate side effects of an economic downturn. Although the cannabis industry has grown to employ more than 420,000 people, several cannabis-centered businesses have announced layoffs in recent weeks.

  • Akerna, a cannabis compliance software firm, announced that they would restructure and lay off 59 workers.
  • Dutchie, another tech company with over 700 employees, announced a plan in June to reduce its workforce by 8%.
  • Eaze also laid off 25 people in June of this year.
  • At the beginning of the year, laid off 150 employees in Vancouver.
  • Weedmaps recently announced plans to cut 10% of its staff, sighting a “widespread slowdown” in legal cannabis.

CANNABIS PRODUCERS TAKING A HIT

Many producers are also struggling. A report published last month on EisnerAmper reads,

“Growers have especially been affected by the adverse effects of the pandemic, as well as the war in Ukraine. Ukraine and Russia export 28% of the world’s fertilizers, and wartime disruptions and economic sanctions have significantly reduced those supplies, causing the price of fertilizers to double in some cases. The largest cost increases have been attributed to labor, where wages have increased by 14% on average. Companies have been forced to increase wages in order to keep pace with competitors and maintain employees.”

Unlike other industries, cannabis-based businesses do not get the luxury of writing off their business expenses or claiming depreciation on their assets. So, simple economics tells us that when the cost of doing business goes up, either consumer prices go up, operating costs go down, or company profits suffer.

And it appears that may be the case in cannabis. A recent North Bay Business Journal article references data collected in a National Cannabis Industry Association survey. Of 396 cannabis operators surveyed, 37% claimed they were not profitable.

Other reports also point to the bottom falling out from under mature markets such as Washington, Oregon, and Colorado, as high taxes and a saturated market make competition extraordinarily stiff. The Colorado Department of Revenue reported that marijuana sales in April 2022 totaled just $153 million, a 25% decrease from the same month in 2021. Colorado’s largest cannabis producer, Veritas Fine Cannabis, recently announced the closure of one of its three cultivation facilities and laid off 33 people.

An article from the Colorado Sun recently points to a consolidation in the Colorado cannabis space, noting a decline in collected cannabis taxes. One company, TweedLeaf, had its licenses suspended due to unpaid taxes and subsequently closed its doors at seven retail locations.

CORRECTING THE COURSE

Without question, the cannabis industry exploded in its first decade. From 2012 to 2022, the industry experienced unprecedented opportunities and rapid expansion. But, as US consumers tighten their purse strings to adjust to the rising prices of essential goods, retail cannabis is suffering a loss.

Business owners are struggling to hold on while they wait for federal legalization. A severe lack of financial services, unfair and exorbitant taxation, and a cash-only format are strangling the industry.

The Game is Far from Over

Yet, while sales statistics and tax revenues may decline in mature markets like Colorado and California, it’s also important to note that other markets are still coming online despite the lack of federal support. Rhode Island approved retail cannabis this year, and several other states have ballot initiatives on the slate for November, including:

  • Arkansas
  • Maryland
  • Missouri
  • Nebraska
  • North Dakota
  • Oklahoma
  • South Dakota

The retail cannabis industry has been a novelty for a decade, but at its roots – it’s still a business. While early adopting states may continue to see a decline in the coming years, from a broader, nationwide perspective, the industry is still growing. New markets, along with new and expanding growers in existing markets, should take note to keep operating expenses and overhead low.

BUY USED CANNABIS PROCESSING EQUIPMENT

Naturally, frugal business owners are looking to cut costs, but most times, walking a tightrope between expanding operations and reducing expenses isn’t an easy task. As such, new markets should be taking advantage of the great cannabis consolidation by looking to repurpose used equipment. As businesses close their doors and start liquidating their assets, buying used cannabis processing equipment is becoming easier.

If your company is looking to purchase used cannabis equipment, or if you have equipment to liquidate, contact Cannabis Tech today at info@cannabistech.com.

Donate to Last Prisoner Project

$