The Pharm

The Pharm concentrated 99.61% of September 2026 sales in Flower, with Concentrates at 0.26% and Pre-Roll at 0.12%, indicating a narrowly focused mix; within that, Flower grew 72.83% year over year while dropping 44.56% month over month, and Pre-Roll spiked 908.85% year over year while falling 71.50% month over month. Average price rose 75.03% year over year to $23.68 while the Flower average price sat at $23.86, and Concentrates declined 49.32% month over month alongside Pre-Roll’s 71.50% month-over-month decline; together, the divergent YoY/MoM signals imply a demand base expanding on an annual horizon but sensitive to recent price or promotional shifts that compressed near-term volumes.

With a 99.61% sales share in Flower and a rank of 10 in Flower in Arizona, the brand’s heavy concentration raises vulnerability to category cyclicality even as brand-level sales climbed 69.79% year over year. The combination of a 44.56% month-over-month contraction in Flower and a 75.03% year-over-year price increase suggests price-led mix and ticket expansion drove annual gains while near-term price elasticity or inventory cadence curtailed recent sell-through; positioning therefore skews toward premiumized Flower that can sustain share at current ranks but risks further rank pressure if price remains elevated relative to month-to-month demand.