CODES

In October 2026, CODES concentrated 39.38% of sales in Flower while holding 29.70% in Vapor Pens and 23.47% in Pre-Roll, and the brand’s Flower rank sat at 10 in Missouri. Category dynamics were uneven: Flower declined 60.76% year over year but grew 5.21% month over month, Vapor Pens increased 11.76% year over year and 11.08% month over month, and Pre-Roll fell 20.27% year over year but jumped 21.76% month over month. Smaller segments pulled in opposite directions, with Concentrates up 76.01% year over year and 0.89% month over month while Edible contracted 31.56% year over year and 7.88% month over month. With average price down 22.25% year over year to $21.35 and total brand sales down 39.05% year over year, the mix indicates a pivot toward lower-priced, faster-turning formats offsetting deep Flower contraction but not yet reversing the overall decline.

The shift toward Vapor Pens and Pre-Roll gaining double-digit month-over-month growth alongside a 5.21% Flower uptick implies CODES is rebalancing away from a shrinking flagship toward segments with steadier demand elasticity, while the 76.01% year-over-year surge in Concentrates adds a high-variance niche that does not yet change share at 3.58%. Holding a 10 rank in Missouri for Flower while Flower share remains the largest at 39.38% suggests brand visibility still depends on Flower, but pricing pressure shown by the 22.25% average price drop requires margin recovery from categories like Vapor Pens at a 29.70% mix and Pre-Roll at a 23.47% mix. The combination of double-digit month-over-month gains in Vapor Pens (11.08%) and Pre-Roll (21.76%) with Edible contraction of 7.88% month over month implies near-term positioning around inhalables breadth rather than edibles depth, aiming to stabilize volume while Flower recovers gradually from a 60.76% year-over-year decline.