Marijuana tech firm Leafly lays off 40 workers as annual revenue rises 10%

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2 years ago

March 17, 2023

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Marijuana e-commerce platform Leafly Holdings this week laid off another 40 employees, or 21% of its workforce, a day before reporting its full-year and fourth-quarter financial results.

The job cuts came as Leafly reported $47.4 million in revenue for 2022, a 10% increase from 2021, according to a Thursday news release about the Seattle-based company’s earnings.

Operating costs, however, climbed more than 40% last year, although Leafly did manage to turn a profit of more than $5 million in 2022.

“We’ve been intently focused on managing our expenses and cash flow,” Leafly CEO Officer Yoko Miyashita said in a statement.

“With softer ad spend expected to continue in 2023, we are driving deeper relationships with our customers and optimizing teams for efficiency.”

The Wednesday workforce reduction comes after Leafly laid off 56 employees last October.

There have been widespread layoffs across the North American cannabis industry

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Colorado cannabis operator’s testing experiment yields damning pesticide, microbial and potency results

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16 hours ago

February 3, 2025

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More than 85% of regulated marijuana products sold in Colorado’s adult-use market might violate health and labeling laws, according to a recent report by one of the state’s cannabis operators.

Frustrated by the apparent reluctance of the Colorado Marijuana Enforcement Division (MED) to test state-regulated cannabis products and punish those found to be breaking the law, Justin Singer, CEO of manufacturer Ripple, asked his staffers to visit Denver-area MJ retailers on Nov. 12 and purchase the flower, shake and pre-rolls brands “they would normally purchase.”

The company then sent unmarked, unadulterated samples – bud, pre-rolls and shake – to a state-regulated cannabis laboratory to have the products tested for potency, yeast and mold, pesticides and microbial contamination.

According to the lab results, only

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Ohio GOP lawmaker’s bill would upend voter-approved adult-use marijuana

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3 days ago

January 31, 2025

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A Republican lawmaker in Ohio has introduced a bill that would raise adult-use marijuana sales taxes, limit home grows and prohibit social equity licenses and job programs.

Senate Bill 56, introduced by Republican Sen. Steve Huffman, would increase the sales tax from 10% to 15% and cap the number of cannabis stores in the state at 350, according to The Columbus Dispatch.

The proposal, which also includes decreasing THC potency caps from 90% to 70% and home-grown plants from 12 to six, is a deviation from the will of voters, who overwhelmingly approved legalizing the cultivation and sale of recreational marijuana in a November 2023 ballot measure.

Leading up to that vote, lawmakers in the state’s Republican-dominated General Assembly vowed to make

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Ohio recreational marijuana market already showing signs of price contraction

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5 days ago

January 30, 2025

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Products in Ohio’s recreational marijuana market are showing signs of price contraction only five months after sales began.

Adult-use sales for the market topped $242.2 million in 2024, meeting industry expectations for the potential of a market that launched on Aug. 6.

And while sales are growing, an analysis of weekly adult-use data from Ohio’s Division of Cannabis Control (DCC) shows the price per item/pound in almost all the categories slid with more than half the products experiencing double-digit declines.

Plant material, which accounts for 52% of recreational sales in Ohio, almost doubled since the market opened.

Ohio consumers bought 2,158 pounds of plant material in the first week of January 2025, up from 1,284 pounds in the week ending Aug. 10.

But declining

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