UP!

UP! concentrated 70.53% of sales in Vapor Pens in September 2026, where category sales grew 3.83% year over year and 1.48% month over month, while the brand’s overall sales rose 17.52% YoY alongside a 1.45% YoY decline in average price. Flower expanded to 16.69% share with 160.83% YoY and 30.29% MoM growth, and Pre-Roll, though only 4.44% share, surged 1087.03% YoY and 34.89% MoM, indicating mix diversification away from a single-category anchor. Offsetting this, Concentrates contracted 39.73% YoY and 41.46% MoM to 4.19% share, even as Edible jumped 87.63% MoM and 2.10% YoY to 3.34% share and Beverage climbed 123.57% MoM and 368.84% YoY to 0.70% share. With rank 23 in Vapor Pens in California, the combination of modest pen growth and outsized gains in Flower and Pre-Roll implies UP! is redistributing volume toward inhalables adjacent to pens to lift total throughput without relying on price-led expansion.

The shift toward Flower and Pre-Roll—up 160.83% YoY and 1087.03% YoY respectively, while Vapor Pens advanced only 3.83% YoY—repositions UP! toward a broader inhalables portfolio that can buffer volatility in a single segment. The steep MoM increases in Edible at 87.63% and Beverage at 123.57%, paired with a 41.46% MoM drop in Concentrates, signal targeted experimentation at small base that can add incremental reach without cannibalizing the 70.53% pen core. Given a 23 rank in Vapor Pens in California and a 1.45% YoY price decline, the pattern implies a volume-first positioning: keep the pen base stable while capturing faster-turn audiences in Flower and Pre-Roll to drive September 2026 mix gains and mitigate category-specific downturn risk.