Illinois released sales figures for adult-use cannabis in July and August today. They were up 1.1% sequentially in July to $143.3 million, and they rose in August by 2.8% to $147.4 million. The year-over-year growth was a low 2.4% in July, but it increased to 5.9% in August:
After increasing 106% in 2021, 13% in 2022 and then 5% in 2023, year-to-date adult-use sales are up 7.3% in 2024 to $$1.14 billion. During August, sales to non-residents were 22.4%:
The state separately releases sales from its medical program, and the release for August showed that sales rose 0.7% sequentially to $23.5 million, which was down 11.1% from a year ago:
For August, combined adult-use and medical sales were $170.9 million, increasing 2.5% sequentially and up 3.2% from a year ago. In July, it had declined 0.1% from a year ago:
Total sales of $1.96 billion in 2023 were up 3% from 2022. So far in 2024, sales have increased 4% from the start of 2023.
Published by Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email
