D.C. patient expirations outpace new registrations as medical sales continue decline
Cultivation and manufacturing revenue in D.C.’s medical cannabis program continue to be below 2023, but they are growing slowly after hitting a low last fall. However, retail sales fell to their lowest point in four years last month, according to ABCA monthly revenue report.
January 2024 saw over $1 million less in revenue compared to January 2023, and most concerning: patients served fell by over 1,500.
Dispensary sales plummeted by a couple hundred thousand dollars, hitting a four-year low. Nearly 1,900 patient certifications expire in the next three months, while overall resident registrations dropped by almost 700 (11%) in January.
Meanwhile, non-resident patient certifications also saw a significant decline, with hundreds dropping their temporary and standard certifications. The top out-of-state patient sources – Maryland, Virginia, and Florida – remained unchanged, but their numbers dwindled.
While shake, trim, and preroll sales increased, these minor gains couldn’t offset the major drop in overall revenue. The amount of cannabis sold in January dropped by over 100lbs compared to the previous month. These numbers raise concerns for the current market expansion.
January 2024 Highlights
- Straight cannabis bud sales (370lbs in January) fell for the fifth month straight. This month a whopping 111lbs.
- Two inspections were conducted across dispensaries and cultivation centers with no violations found.
- Patients served fell by almost 1,574 from December.
- The top state for temporary patient registrations was Maryland for the fifth month in a row followed by Virginia than Florida.
- 1,780 pounds of cannabis waste was destroyed in January.
- Almost 1,900 patient registrations are set to expire by the end of April.