Top Ancillary Cannabis Stocks To Watch In August: Revolutionizing Cannabis Retail in the Digital Age

Investing In Ancillary Cannabis Stocks In 2023

In a world that is quickly legalizing and normalizing cannabis, the industry’s expansion is visible not just in the blossoming of cultivation and distribution but also in the world of digital media. As the green wave sweeps the globe, many ancillary cannabis companies and top marijuana stocks emerge, boosting the cannabis industry’s internet presence to new heights. These unsung heroes, who provide vital services and solutions to cannabis businesses, have capitalized on the changing landscape and become essential contributors to the industry’s growth.

This investigation explores the top ancillary cannabis stocks sowing the seeds of success by developing a vibrant online cannabis ecosystem. From cutting-edge marketing tools to innovative e-commerce platforms, these companies are cultivating a digital landscape changing how cannabis is seen, acquired, and experienced. Join us as we investigate their strategies, accomplishments, and role in influencing the future of the cannabis trade in the digital era.

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Best Ancillary Marijuana Stocks Optimizing Online Visibility for Cannabis Brands

  1. WM Technology, Inc. (NASDAQ: MAPS)
  2. Leafly Holdings, Inc. (NASDAQ: LFLY)
  3. TILT Holdings Inc. (OTC: TLLTF)

WM Technology, Inc.

Weedmaps is a user and company directory and an online cannabis marketplace. WM Technology, Inc. is the company’s owner. Cannabis stores frequently employ WM Business’s cloud-based SaaS solutions as their operating system. WM Business’s solutions and services typically make it easier to comply with the cannabis industry’s complicated and ever-changing regulatory demands. WM Technologies launched a digital payment option in Ontario in May to broaden its product line. As curbside pickup, delivery, and cashless transactions became increasingly frequent, small businesses gained.


Weedmaps reported $48.0 million in revenue in the first quarter of 2023, down from $57.5 million in the same period last year. Furthermore, the average monthly paying client increased from 5,026 in the prior year to 5,641. The company’s net loss was $4.0 million, down from $31.2 million the prior year. Adjusted EBITDA increased from $(1.0) million the prior year to $7.1 million this year. The company also gave guidance for the second quarter of 2023, with sales projected to be comparable to the first quarter of 2023.

MAPS Stock Performance

MAPS stock closed at $1.1715 on August 7th, up 30.68% in the last month of trading. The stock has a 52-week price range of $0.596- $3.62 and is up 13.86% year to date. According to analysts at CNN Business, MAPS stock has a 12-month average price target of $1.50 per share. Essentially, this would represent an upside of 28.21% from its last trading price of $1.1715.

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Leafly Holdings, Inc.

Leafly Holdings Inc. owns and administers a platform that links users to cannabis brands and authorized merchants and provides customers with cannabis-related information. The company operates the most reliable website for locating and purchasing cannabis products from certified dealers worldwide. Over 125 million individuals use Leafly each year to explore cannabis and make online purchases from nearby businesses. Customers may make informed purchasing decisions because of the organization’s considerable resources, including technology and advertising services. This helps cannabis businesses attract and keep repeat customers. Customers may now purchase cannabis directly from the company’s website, owing to the online cannabis delivery service established when it opened its doors in California in May.

First Quarter Financial Results

  • Revenue was $11.2 million, down 1.5% from Q1 2022.
  • Gross margin was 88%, improved from 87% in Q1 2022.
  • Total operating expense was $14.9 million, down 14.7% from $17.4 million in Q1 2022, reflecting the impact of recently announced cost-cutting measures.
  • Net loss for Q1 2023 was $5.4 million. This compares to a net loss of $19.4 million in Q1 2022.
  • Adjusted EBITDA loss was $3.3 million, compared to adjusted EBITDA loss of $5.4 million in Q1 2022.

LFLY Stock Performance

LFLY stock closed on August 7th at $0.3220, up 3.74% in the past month days. The stock has a range of $0.2340-$3.34 and is down 50.92% year to date. According to analysts at CNN Business, LFLY stock has a median price target of $2.00 per share. In this case, this would represent an upside of 506.61% from its last trading price of $0.3220.

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TILT Holdings Inc.

TILT Holdings Inc., an international market specialist, may be able to assist cannabis entrepreneurs in building a global brand. In general, the companies’ key markets are the European Union, the United States, Canada, Israel, Mexico, and South America. Specifically, TILT has a diverse portfolio of businesses that provide manufacturing, production, hardware, and software to other renowned cannabis enterprises. The company often supplies the best inhalation device for cannabis-based treatments in the American and European markets. After the market closes on August 14th, the firm will reveal its second-quarter 2023 results.


Q1 2023 Financial Summary

  • Revenue was $42.3 million in the three months ended March 31, 2023, compared to $42.4 million in the prior year period.
  • Gross profit was $8.8 million in the three months ended March 31, 2023, or approximately 20.8% of revenue, compared to $9.4 million or approximately 22.1% of revenue in the prior year period. The decrease in gross profit and gross margin was primarily due to price compression in the Massachusetts cannabis market, partially offset by an increase in gross profit and margin in the Company’s inhalation business driven primarily by lower costs of goods.
  • Net loss improved to $4.9 million in the three months ended March 31, 2023, compared to a net loss of $11.6 million in the prior year period. The improvement was primarily driven by an $8.4 million gain from the previously announced sale-leaseback transaction for the Company’s Pennsylvania cultivation and manufacturing facility.
  • Adjusted EBITDA (non-GAAP) was $(79) thousand in the three months ended March 31, 2023, compared to $1.5 million in the prior year period. The decrease was driven by lower gross profit, higher general and administrative expenses, and increased retail headcount in Massachusetts.
  • On March 31, 2023, the Company had $5.2 million of cash, cash equivalents, and restricted cash compared to $3.5 million on December 31, 2022. Total net debt on March 31, 2023, was $48.9 million compared to $59.7 million on December 31, 2022.

TLLTF Stock Performance

TLLTF stock is trading at $0.0295 on August 7th, down 9.26% in the past month. The stock has a 52-week price range of $0.023-$0.20 and is down 25.56% year to date.

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Enhancing the Online Cannabis Experience through Tech Solutions

In this era of the digital revolution, the ancillary cannabis stocks mentioned above have emerged as the industry’s unsung champions, significantly contributing to its rapid expansion in the online sphere. In general, cannabis continues to lose its historical stigma and merge into mainstream culture. Additionally, these trailblazing companies have played a critical role in redefining how cannabis is seen, accessed, and celebrated. Their dedication to innovation, sustainability, security, and community-building has not only moved the cannabis sector forward but has also established a precedent for the larger landscape of e-commerce and digital entrepreneurship.

MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 |
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