The streak continues for the Colorado cannabis industry.
Colorado marijuana shops in September reeled in $ 127.8 million in sales of medical and recreational cannabis, notching a new revenue record for the third consecutive month, according to newly released data from the Colorado Department of Revenue.
So far this year, sales have topped $ 974.3 million in nine months, about $ 22 million shy of the $ 996.2 million revenue totaled for the entirety of 2015. This time last year, September monthly sales were $ 94.7 million — $ 38.3 million from medical marijuana and $ 56.44 million from recreational marijuana — and year-to-date sales were nearly $ 733.8 million.
The sales jump this time around can be attributable to soaring recreational marijuana sales. In September, medical marijuana sales were $ 39.6 million while the portion of sales coming from recreational purchases was $ 88.2 million — the highest-ever monthly total for adult-use sales.
The spike likely is spurred by seasonal purchases, Adam Orens, a BBC Research and Marijuana Policy Group economist, said in September. More residents and tourists are “out and about” for the summer and participating in a variety of recreational activities, he said at the time.
Also new for 2016 was the implementation of a new law that increased the daily purchase limit for non-residents to one ounce, up from a quarter-ounce. That law took effect in June.
The September 2016 sales generated about $ 19.2 million in tax revenue for the state, bringing the year-to-date total for taxes and licensing fees to $ 144.2 million.
This story is developing and will be updated.