Dark Horse Cannabis opening corporate headquarters in Rogers
by July 22, 2024 4:49 pm 232 views
Dark Horse Cannabis is moving its corporate headquarters to an office in Parkway Tower in Rogers. The move, effective Aug. 1, is designed to be a more centrally located site for the company’s operations in Arkansas, Mississippi and Missouri.
The company, founded in 2021, produces edibles, concentrates, and other cannabis products for various brands and companies. The company now employs around 60, with most of those in the Little Rock manufacturing operation.
“This relocation to Northwest Arkansas marks a significant milestone for Dark Horse Cannabis. We are thrilled about the opportunities this move presents for our team and our ability to deliver exceptional cannabis products in all of our markets,” Dark Horse CEO Casey Flippo noted in Monday’s (July 22) press release.
Dark Horse Chief Financial Officer Sean Clarkson said the Rogers office could have up to 15 employees in the next 12 months. He also said the company has had 400% revenue growth since 2021, with much of that coming from Missouri. Voters in that state approved limited recreational marijuana use in November 2022. A constitutional amendment in Arkansas designed to allow recreational marijuana use failed in November 2022.
“A large part of that (revenue) growth is from the Missouri market,” Clarkson said, adding that Arkansas’ medical marijuana market “has been healthy for us as well.”
Arkansas medical marijuana sales in the first half of 2024 totaled $135.5 million, down from $141 million in the same period of 2023, according to the Arkansas Department of Finance and Administration.
As to the Dark Horse moniker, Clarkson said it comes from missing out on the initial licensing for Arkansas medical marijuana sales. The company was eventually able to get a license allowing them to work in the value-added sector of the industry.
“We were a late entrant into the Arkansas market. … But we were able to come in late and find a creative way to find our niche in the cannabis market,” Clarkson said.