Bad Pony

Bad Pony’s category mix in September 2026 tilted heavily toward Pre-Roll at 67.80% share with a month-over-month decline of 31.83%, while Concentrates held 32.20% share but fell 50.51% MoM and 75.72% year-over-year; meanwhile, overall brand sales fell 24.60% YoY and average price declined 56.94% YoY. Within Pre-Roll, the average price of $12.65 sits below the brand’s blended average price, whereas Concentrates averaged $32.51, creating a price barbell that coincides with a 30.87% two-year sales decline and a rank position of 65 in Pre-Roll in Missouri. The pattern implies the brand is consolidating volume in lower-priced Pre-Rolls while ceding higher-priced Concentrates faster, reinforcing a downshift toward value-driven units over premium extracts.

The sharp 50.51% MoM contraction in Concentrates alongside a 31.83% MoM drop in Pre-Roll, paired with a 56.94% YoY price reduction, implies price-led repositioning that is improving unit affordability but compressing revenue contribution per unit; the 67.80% Pre-Roll share suggests reliance on a single category while the 32.20% Concentrates share is unlikely to sustain prior mix economics given its 75.72% YoY fall. With rank 65 in Pre-Roll in Missouri and a 24.60% YoY sales decline, the mix shift indicates a need to stabilize Pre-Roll velocities at current price tiers while re-evaluating Concentrates participation to prevent further erosion of category breadth and margin.