Halo Labs Inc. (“Halo” or the “Company“) (NEO: HALO) (OTCQX: AGEEF) (Germany: A9KN) announces that BDS Analytics, Inc. (“BDSA”) has reported record year over year retail sales growth in November 2020 of Halo products in Oregon’s recreational cannabis market.
Oregon retail sales reached $89.9 million in November 2020. This represented 32% year over year growth when compared to November 2019 retail sales. Sales between January and November 2020 surpassed $1 billion, exceeding analysts’ forecasts for Oregon for the entire year1. Amidst this strong growth in Oregon, Halo outperformed the market average across multiple product categories.
The concentrates category, comprised of cartridges, live resin, shatter, and other dabbable products, grew 46% year over year (November 2020 compared to to November 2019). Halo brands2,3 across the concentrates category posted 242% retail sales growth in the same time period- more than 5 times the market average.
In cartridges, the largest concentrates’ segment, Halo’s brand Hush posted sales growth of 363% with reported retail sales of $527,095 when compared to November 2019. Winberry Farms cartridges also demonstrated strong growth outpacing November 2019 sales by 168% with reported retail sales of $432,013 in November 2020. Hush and Winberry Farms were in the top 10 best selling cartridge brands (ranked #4 and #8 respectively) and combined were third in cartridge sales statewide.
Overall Hush posted 131% year over year growth across all concentrates segments when compared to November 2019 sales. Hush also recorded the most sales of shatter measured both by volume and by dollars.
Meanwhile, Halo brands performed well in other attractive product categories. November 2020 flower and pre-roll category sales were $39.9 million and $8.2 million respectively statewide. Together these segments captured 52% of all retail cannabis sales in Oregon. However, infused pre-rolls showed the highest growth of any flower related segment (up 223% YOY from $323,657 to $1.05 million in November 2020). Halo brands Hush and Winberry Farms have both launched strong SKUs in this rapidly expanding segment. The Hush Hybrid Infused Pre-Roll 2-Pack was the top selling SKU by volume and dollars while Winberry Farms recorded the seventh highest sales of all brands in the infused preroll segment.
Edibles generated over $10.8 million in sales in November 2020, up by nearly 24 percent compared to November 2019. With multiple offerings in this growing category, Hush products again outpaced the market in year over year growth. Hush edibles grew by a margin of 187% (from $96,068 to $275,749), entering the top 10 for best selling edibles brands in Oregon.
Dustin Jessup, Chief Revenue Officer of Halo stated, “Synergies created through our pending acquisition of Winberry Farms have positioned Halo to become the market leader in Oregon. Our growth is far outpacing that of our competitors, as the November BDSA report shows.”
All statistics included in this press release are defined in the November 2020 BDSA data – the leading provider of market research solutions for the global cannabinoid industry from forecasts to trends.