After a record-breaking year of revenue for state medical marijuana dispensaries in 2020, the first month of 2021 saw dispensaries continue that trend.
In January, state dispensaries reported more than $78 million in total revenue, which outpaced more than half of the monthly revenue output for dispensaries in 2020, according to data from the Oklahoma Tax Commission. State dispensaries also remitted nearly $6.5 million in city and state sales tax in January.
The latest OTC revenue report always reflects data from two months prior.
However, Norman dispensaries saw a slight dip in revenue in January compared to 2020. According to OTC data, local dispensaries reported $2.54 million in total revenue in January, marking the lowest revenue output since March 2020. Norman Dispensaries remitted $211,000 in city and state sales tax revenue in January.
The number of dispensaries in Norman has remained steady, as the Oklahoma Medical Marijuana Authority reports 63 active dispensaries in Norman as of February.
Moore dispensaries saw its highest revenue output since August of last year, reporting $1.1 million in total revenue.
Eric Powell, budtender at Friendly Market in Norman, said the dispensary has noticed that revenue has remained steady compared to 2020.
“We also do patient drives at our store, so we’ve seen a lot of people renewing their licenses and it’s remained at a steady pace,” Powell said. “At each patient drive, we’ve had about 10 more patients sign up compared to the previous drive. If the state ever passes recreational [marijuana], I think it will uptick even more.”
This week marked the beginning of the state marijuana industry’s transition to a new seed-to-sale online tracking program. Metrc, a regulatory cannabis system working with the OMMA, began training and registering dispensaries across the state in the new program on March 1.