Connect with us

Business

Akerna Corp (NASDAQ:KERN) Reports $4.1 Million Revenues In Q2 2021

Published

on

Akerna Corp (NASDAQ:KERN) posted growth of 24% YoY to $4.1 million in earnings in Q2 2021. Software revenues contributed a significant share of the revenues ($3.4 million).

Its gross profits surged by 60% YoY to $2.7 million in Q2 2021. CEO of Akerna, Jessica Billingsley, said the company reported strong growth in Q2 2021. The company continues to strengthen its channel connections using the prevailing ERP providers.

Akerna prepares to capitalize on the market opportunities post-legalization of cannabis. Its enterprise capabilities, such as financial reporting integrations and compliance solutions, are vital for maintaining strong growth going forward.

Inks a pact to take over Viridian Sciences

Akerna signed a pact to take over the cannabis business management software system built on SAP Business One, – Viridian Sciences. It is an all-stock deal.

Following the acquisition, more than 30 customers of Viridian will get access to the MJ Retail App and the compliance gateway of Akerna.

Akerna entered deals with ERP Solutions like SAP and other companies engaged in offering integrated tax-planning/ financials, which will help cannabis operators from the startup become a multi-state operator. The compliance gateway of Akerna is used to ensure regulatory compliance for cannabis operators.

The purchase of Viridian expedites the deployment of this strategy and positions Akerna as the only company compliant with SAP Business One Solution.

Jessica said cannabis operators are looking for solutions like ERP solutions to scale up their operations. Viridian is a proven solution for cannabis operators because of SAP Business One solution’s reliability.

Akerna plans to improve the value of SAP Business One solution with over 80 integrations/ broader compliance solution.

ERP solutions help businesses to manage all of the functions in a centralized system.

A single tool provides data, business intelligence, human resource management, supply chain information, finance, inventory, and compliance/ risk management functions together for the companies to manage effectively.

CFO of Wana, Logan Craven, said Wana benefitted from greater visibility in its supply chain, finance, and production management by working with Viridian. It is excited that its relationship with Akerna and Viridian will improve further.

The clients of Viridian are Canndescent, Herbl, iAnthus, Trulieve, and Wana.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business3 hours ago

NewAge Inc Unveils New Adolescents’ Multivitamin with Healthier Assimilation for Resistant System Sustenance

Post Views: 2 Newage Inc (NASDAQ: NBEV), the Colorado-based biological and healthy products business, proclaimed today the introduction of Nutrifii...

Business2 months ago

NewAge Inc. (NASDAQ:NBEV) Expanding Its Operations In Europe As Lucim™ Gets Recognition As A Safe Skincare Product

Post Views: 580 NewAge Inc. (NASDAQ:NBEV) announced a record net revenue increase in Europe, record attendance at its virtual events,...

Business2 months ago

ILUS International Inc. (OTCMKTS:ILUS) Appoints New Marketing Director Dejana Radonjic To Help With Global Marketing

Post Views: 525 ILUS International Inc. (OTCMKTS:ILUS) seems more focused on making new acquisitions, with about two accomplished within its...

Business2 months ago

Conservative Broadcast Media Journalism (OTCMKTS:CBMJ) Reports Revenues Of $2.4 Million In 2020

Post Views: 576 Conservative Broadcast Media Journalism (OTCMKTS:CBMJ) posted a robust growth of 118% YoY to $2.4 million in 2020. Development...

INDUSTRIAL HEMP2 months ago

Cannabics Pharmaceuticals (OTCMKTS:CNBX) Initiates RCC-33 Dose-Response Study, And Cresco Labs (OTCMKTS:CRLBF) Launches Wonder Wellness Gummies

Post Views: 559 Cannabics Pharmaceuticals (OTCMKTS:CNBX) has announced that it will initiate a Dose-Response in-vivo Study in mice whose data...

INDUSTRIAL HEMP2 months ago

Curaleaf Holdings Inc. (OTCMKTS:CURLF) Rebrands And Opens New Locations In Pennsylvania And Illinois

Post Views: 608 Curaleaf Holdings Inc. (OTCMKTS:CURLF) has announced new Curaleaf branding for its recently acquired retail locations and the...