Cannabis sales in New Brunswick were $25.4 million in the three months ended December 29, 2024 (Q3 2024). 

Sales in New Brunswick were up 6.3% year-over-year but declined from the $27 million worth of cannabis sold in the three months ended September 29, 2024. 

Cannabis NB reported 398,000 transactions in the most recent quarter, with an average ticket size of $59.91. This is a year-over-year increase from more than 382 thousand transactions, but a decline in an average ticket size from $62.37. 

The provincial agency reported $11.9 million gross profit for the final three months of 2024, a 0.6% increase from the same period in 2023, and a net income of $5.7 million, a 5.7% decline from Q3 2023.

Gross profit does not account for expenses beyond the cost of goods sold, while net income accounts for all expenses incurred, such as salaries, depreciation, and rent.

Dried flower sales were $12.6 million, or 49.5% of total sales, while concentrates and extracts were $9.2 million (36.6%), and edibles were $1.9 million (7.4% of sales).

Accessories were $800,000 (3.1%), while infused beverages were $700,000 (2.6%), and topicals were $200,000 (0.8%).

A recent annual report from Cannabis NB shows that while dried cannabis flower continues to be the majority of sales, its market share, like in many other provincial markets, is shrinking as concentrates sales increase. New Brunswickers prefer more “convenient” cannabis products as the market continues to shift to products like vape pens, concentrates, and pre-rolls, especially infused pre-rolls, notes the report.

Cannabis NB recently announced an RFQ for four more private cannabis stores in the province. These will join the nine already licensed, and the tenth store is expected to be licensed soon. 

The provincial government’s goal in adding private stores was to bring cannabis to smaller, underserved communities. The province currently operates 27 public Cannabis NB stores, nine privately run cannabis stores, and seven cannabis farmgate stores.

Cannabis NB also licensed its newest cannabis FarmGate partner, Pinnacle Farms, in the previous quarter. The Cannabis NB FarmGate program allows licensed New Brunswick cannabis producers to sell their own products onsite at their facilities.

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