CALGARY, AB, Oct. 15, 2021 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSX-V: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to provide an update on its recent Canadian recreational market share, and upcoming product launches in its three major markets – British Columbia, Alberta, and Ontario – in addition to Saskatchewan and Manitoba.
"We remain focused on capturing additional market share through the strength of our brands, industry-leading product quality and continued innovation to meet cannabis consumer's evolving preferences" said Paul Wilson, Chief Executive Officer of Decibel. "We are closing out 2021 with strong momentum, as we fully realize the impact of our 2021 growth initiatives".
Market Share
- #9 largest LP by Canadian recreational market share, with 3.1% in September
- Strong market share across BC, AB, SK, ON in September 20211,2:
- #2 brand in premium flower sales with a 9.0% market share
- #2 brand in concentrate sales with a 12.9% market share
- #3 brand in vape sales with a 12.9% market share
Successful Product Listings & Upcoming Launches
Decibel continues to drive innovation within the recreational market, focusing on consumer insights to shape selection of product offerings, cannabinoid profiles, formulations, and flavours. In its Q2 2021 financial results, Decibel averaged approximately $180 thousand in net revenue per product SKU3 (annualized ~$720 thousand in net revenue per product SKU).
Decibel is in the process of launching 40 new product SKUs between September and January:
- 12 new flower & pre-roll products that will replace existing cultivars in market
- 28 incremental new flower & derivative products
Flower
Flower and pre-roll volumes from Decibel's cultivation assets achieved run-rate harvests in August and are now in the post-harvest phase, with record volumes available for sale mid-Q4. In anticipation of these volumes, Decibel has now listed all flower and pre-roll cultivar offerings in its three major markets – British Columbia, Alberta, and Ontario – in addition to Saskatchewan, and Manitoba.
- British Columbia – 10 new product listings launching in the next 2 months (2 launched recently)
- Ontario – 12 new product listings launching over the next 4 months (4 launched recently)
- Alberta – 14 new product listings launching in the next 2 months (4 launched recently)
Derivatives
The Company continues to innovate with its vape and concentrate offerings with upcoming product line extensions providing more flavours of existing formats, expanding into new & unique product formats, and brand extensions into new product categories.
- British Columbia – 3 new product listings launching in the next 2 months with listing process of additional products ongoing (2 launched recently)
- Ontario – 13 new product listings launching over the next 4 months (2 launched recently)
- Alberta – 10 new product listings launching over the next 2 months (4 launched recently)
Link to Decibel's Investor Presentation
| 1 HiFyre Retail Analytics, Licensed Producer Sales over Time in BC, AB, SK, ON, September 1 – September 30, 2021 |
| 2 HiFyre Retail Analytics, Premium flower market defined as flower products sold more than 20% above average selling price per gram |
| 3 See Decibel's investor presentation page 12. |