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Wednesday, May 25, 2022

Akerna Corp (KERN) stock plunged in the after-market. Here’s why

The stock Akerna Corp (KERN) was trading at $1.14 before the closing of the regular trading session after it gained 7.55% from the previous session. The firm reported the fiscal performance for the last quarter and fiscal year 2021. After the reporting of financial results, the stock of KERN plunged in the after-market and lost 11.4% to $1.01 per share. The stock kept oscillating between $1.08 and $1.19 during the recent trading session.


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Akerna Corp. is a cannabis consistency and inventory following innovation organization. The organization fosters the items planned to help states in checking authorized organizations’ consistency with state guidelines and to assist state-authorized organizations working in consistence with such regulation. KERN has its headquarters in Denver, Colorado, United States of America (USA). The firm has a market cap of $35.34 million.

KERN News

On 3 March 2022, KERN released a report indicating the increased share of women in the cannabis market. The firm delivered an information report on women’s cannabis shopping up 3.3% beginning around 2019. The share of women in the cannabis market during 2019 stood at 35% while it went up to 38.3% in 2021. The CEO of KERN, Jessica Billingsley stated that she hopes to see an ever-increasing number of brands focusing on their items and showcasing them to ladies in the preceding year.

Financials

KERN reported the fiscal performance for the last quarter of the fiscal year 2021. The revenue of the company was up by 61.2% in Q4 of FY21 to $6.6 million compared to $4.1 million in the same quarter of last year. Also, the revenue in FY21 grew by 49.2% t0 $20.6 million compared to $13.8 million in the last year.

The total profit of KERN was reported to be $3.8 million in Q4 of FY21 versus $2.7 million in the last quarter of FY20. This marks an increase of 40.7%. Moreover, the total profit in FY21 was reported to be $12.5 million compared to $7.5 million in FY20.

Further, the firm’s total loss went up by 59.3% in Q4 of FY21 to $19.4 million compared to $12.2 million in the year-ago period. The total loss in FY21 was $33.5 million versus $26.8 million in FY20.

Moreover, the company reported a loss of $0.63 per stock in the last quarter of FY21 against the loss of $0.67 per stock in Q4 of FY20. Besides, KERN reported a loss of $1.31 per stock in FY21.

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