Fernway, the leading Northeastern US cannabis brand, today reported its 2024 Q3 financial results and an update on its planned entry into Connecticut.

For the quarter ended September 30, 2024 (Q3), Fernway generated $11.1M in wholesale revenue and an estimated annualized retail gross merchandise value (GMV) of $95M+. This represents +133% year over year growth. With the US national cannabis market growing at approximately +12% per year according to MJBizDaily, Fernway continues to significantly outperform the national cannabis market.

Fernway’s year over year growth has been bolstered by its entry into the New Jersey cannabis market in late 2023 as well as the New York cannabis market in early 2024.

Fernway Co-Founders Kit Gallant (CEO) & David Van Vlierbergen (CFO) will be participating in the upcoming Benzinga Capital Conference in Chicago on October 8-9, 2024. Feel free to reach out to Fernway to arrange a meeting.

About Fernway

Fernway, the leading independent cannabis brand in the Northeastern US, believes cannabis makes the good life even better. The brand name is inspired by fernweh – the longing for faraway places. It’s at the heart of why we love cannabis. Because life’s an adventure, and we want you to savor every moment of it.

Fernway at its core is a brand and product innovation business focused on delighting consumers. The company was founded in 2018, and is available for sale in Massachusetts, New Jersey and New York.

The company’s four co-founders continue to lead & manage the business day-to-day: Kit Gallant, David Van Vlierbergen, Liam O’Brien and Kevin Wu.