💻 Akerna (NASDAQ:KERN), a major contributor to cannabis industry software solutions, released its Q2 of 2021 financial results on Monday. KERN announced a 63% year-over-year increase of total revenue. Software-specific revenue increased by 56% year-over-year.
🔬 Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE), a large cannabis biotechnology company, also released Q2 of 2021 financial results on Monday. ZYNE missed analyst estimates by a margin of $0.04, reporting earnings in negative territory at -$0.25 for Q2 of 2021. Zynerba also posted a net loss for Q2 of $10 million.
🛍️ Leafly Holdings Inc., a major online marketplace in the cannabis industry, and Merida Merger Corp. (NASDAQ:MCMJ), a SPAC signed an agreement to combine businesses. Once the transaction is completed, the new company's name will be Leafly and is expected to be listed by NASDAQ under the ticker of LFLY sometime in Q4 of 2021.
🌿 As a new subsidiary of Scotts Miracle-Gro Company (NYSE:SMG), The Hawthorne Collective, announced it will be lending $150 million to Canadian-based RIV Capital. The Hawthorne Collective, a cannabis-centric entity owned by SMG, is focused on identifying investment opportunities within the cannabis industry and this investment will further that mission.
💊 On Tuesday, the U.K. Medicines and Healthcare Products Regulatory Agency (MHRA) rubberstamped its approval of GW Pharmaceuticals' cannabis-based treatment for of seizures associated with tuberous sclerosis complex (TSC). GW Pharmaceuticals is a subsidiary of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) who simultaneously announced a $4 million research collaboration with Stand Up To Cancer.This research will focus on expanding cannabinoid solutions, focusing on the usage of lurbinectedin in pediatric solid tumors and pan-RAF molecules in RAF- and RAS-mutated solid cancers.
👷 Agrify Corporation (NASDAQ:AGFY) in conjunction with True House Cannabis LLC announced plans on Tuesday to build a brand-new cultivation facility. Agrify will collaborate on construction of the 22,000 square foot facility and install its Vertical Farming Units. This collaboration is expected to produce $46.3 million in revenue over the next 10 years.
🏭 On August 11, urban-gro, Inc. (NASDAQ:UGRO) released record-breaking revenue for Q2 of 2021. This marks the fourth straight record-breaking revenue report for UGRO. urban-gro has established itself in the commercial cannabis facilities industry as well as in the Controlled Environment Agriculture (CEA) facilities industry.
💉 Anebulo Pharmaceuticals, Inc (NASDAQ:ANEB) announced the formation of a scientific advisory board on Thursday, August 12. The founding members of the board both have profound experience in emergency medicine and medicinal toxicology. According to Anebulo's CEO, he looks forward to the board's contributions and "additional SAB members as we progress ANEB-001, our lead candidate for the treatment of acute cannabis intoxication, into a single-site Phase 2 proof-of-concept study."
💦 On Thursday, Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) released its Q2 of 2021 financial results. Net sales results missed estimates by over $2 million despite revenue increasing 47% year-over-year. Hydrofarm Holdings also announced the completion of two acquisitions during Q2 including HEAVY 16 and House & Garden.
💵 Clever Leaves Holdings Inc. (NASDAQ:CLVR) released its Q2 of 2021 financial and operating results on Thursday, August 12. CLVR reported revenue of $3.7 million which outperformed estimates of under $3.5 million. This revenue marks an 89% increase year-over-year. CEO of Clever Leaves Kyle Detwiler said, "Our second-quarter performance marked sustained progress towards our long-term vision, as we continued to optimize our positioning within the global cannabinoid supply chain."
↗️ Today Agrify Corporation (NASDAQ:AGFY), a provider of indoor growing solutions for the cannabis industry, released its Q2 of 2021 financial and operating results. AGFY announced a 203% increase in revenue year-over-year, clocking in at $11.8 million for Q2 of 2021.