Cannacurio #111: 2025 Q1 License education

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The year began with a new president in the White House and a blocked rescheduling process. Some M&A appear while the gold flora and others slide into the recipient. And Ancillaries like Blinc explain bankruptcy. Despite this tumult, new licenses are issued and replaced across the country.

Key results

• 1,286 new licenses were exhibited for all activities in the first quarter of 2025, which was exhibited in the first quarter (-17.5%) in the first quarter (-17.5%) in Q12024 in the first quarter (-17.5%).
• There were 39,427 active cannabis licenses, imperceptibly from 39,755 by YE24.
• 30 countries have exhibited at least one license this quarter.

Cultivation, production and shop licenses made up 91% of the new licenses granted in 2024. The following table shows that the ratio of 2024 hardly changed in the first quarter.

• The cultivation licenses rose from 54% to 56% of the total
• The business had dropped from 30% by one point to 29%
• The production was stable at 15%

The grow licenses appear larger due to the newly laid out/renewed Oklahoma growth in the state sources. There were no significant spikes for these three activities in this quarter.

The grow licenses appear larger due to the newly laid out/renewed Oklahoma growth in the state sources. There were no significant spikes for these three activities in this quarter.

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Here the ranking of the state for Q12025 with New York is in the lead. This table contains all licensed activities:

New York's newly exhibited license came from a variety of activities, while all 248 from Oklahoma served for cultivating licenses.

When looking at the number of facilities in the past twelve months for cultivation, business and manufacturing, the industry on a national basis was quite flat:

Activities

While there are many types of licenses in the cannabis ecosystem, cultivation, production and shops make up about 90% of the published licenses – and they are generally licensed in all jurisdiction. In the next section we will watch these activities for Q1 2025.

Cultivation

The Seed To Sell's value chain begins with plants in the ground, and many observers and analysts follow this license to assess how the offer and price of cannabis will move. These licenses are the source of the oversupply that affects some states (Michigan) or undersupply (Connecticut).

637 attachments were issued in the quarter. If we ignore these 243 licenses for the renewal of Oklahoma, this means that the rest of the country only added 394 attachments.

Cultivation of important points

• 637 attachments were granted in the first quarter of 2025. 243 were exhibited as renovations as part of the Moratorium of Oklahoma. This is a decline (-14.6%) compared to the nationwide 746 in the first quarter of 746 in the first year in the first year.
• California gave 155 new growing licenses, with Oregon remaining 54
• There are 18,218 active cultivation licenses nationwide from 18,755 with them 2024

The following graphic shows the following 12 months new cultivation license edition. The trend is down with and without renovations of Oklahoma.

Here is the cultivation and cultivation lord of Q1 2025. Both Oklahoma and Oregon have active moratoriums, so these numbers include extensions, change of ownership and license sales.

Production

Manufacturing licenses were still the least volatile activity in relation to the new license edition. We received 173 new licenses in the first quarter of 2025 with New York, Michigan and Vermont on the ranking.

Manufacturing important points

• In the first 2025, only 173 new production licenses were issued in the first quarter of 2025.
• New York led 86 (50%) with Michigan in second place at 17 (10%) and gave it out.
• Only 15 states have issued licenses for this activity in Q1

Pharmacy/retail

Business or doors are an important retail metric for the industry. Cannabiz media make up medical licenses as pharmacies and adult licenses as retailers. This definition is comfortable, but is tested, as companies like Curaleaf take one of their pharmacies in Florida and configure them for the sale of hemp products. They join the other 11,148 hemp dealers who are already licensed in the Sunshine State. In some states, smoke and vape stores sell a variety of products that are a replacement for purchases in licensed cannabis facilities. This allows the “door” to be counted and confusing.

Pharmacy/retail important points

• 337 new business licenses were issued in the first quarter of 2025, from 566 (-40%) in the first quarter of 2024
• 27 countries have issued new business licenses in the quarter
• There are 13,184 active licenses in 12,539 shops

In the shop round in the business list, New York held its leadership position from the fourth quarter of 2024 and made almost a third of all new shop licenses nationwide.

Diploma

The first quarter of 2025 was a calm. New York continued his reign in the previous year by issuing 22% of the new licenses. In the meantime, industrial objects monitored Kentucky, Delaware and Minnesota as the next jurisdiction. There were even discussions in places such as Indiana and Kansas as possible future states that could legalize.

The rescheduling was the source of occasional leaks, press releases and new bills. Most experts and industry observers urge caution, as this has no priority for the current administration.

In our next post we will check the retail/pharmacy landscape.

author

Ed Keating is a co -founder of cannabiz media and monitors data research and the efforts of the company's government relationships. He spent his career to work and share information companies in the compliance area. ED has managed product, marketing and sales and at the same time monitored complex product lines for the majority in the securities, company, UCC, security, environmental and personnel markets.

At Cannabiz Media, ED enjoys the challenge of working with supervisory authorities around the world, while he and his team collect companies, financial and licensed information in order to pursue people, products and companies in cannabis economy.

Ed completed the Hamilton College and received his MBA from the Kellogg School at Northwestern University

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