Door count is the number every cannabis brand brags about. Revenue per door tells a different story. The cannabis brands on the most shelves earn the least per shelf, and across the top 100 brands revenue per store varies more than 200 times.
Key findings
- WYLD is listed in the most stores (7,312) but earns about $3,700 per door. Lume earns about $334,000 per door from 49 stores.
- Across the top 100 brands, reach and revenue per door move in opposite directions (log correlation -0.81).
- Brands in fewer than 250 stores earn about $41k per door. Brands in 4,000 or more earn about $4.1k.
- Brands in fewer than 1,000 stores hold 20% of the top 100's doors and 41% of its revenue.
- STIIIZY has the highest estimated revenue on the network with less than half of WYLD's reach.
Brand teams love a door count. It is easy to measure, it only goes up in a pitch deck, and it is the first thing a buyer asks about. By that measure WYLD is the biggest brand in cannabis: on October 31 it was listed in 7,312 dispensaries across 41 states.
But a door is only worth what it sells. We took the 100 brands with the highest estimated revenue on Trees.Cloud's network and divided each one's revenue by the number of stores listing it. The ranking turned upside down. Lume, in 49 stores, earns about $334,000 per door. WYLD earns about $3,700. Good Tide, in 3,908 stores, earns about $1,400.
This issue looks at what that spread says about how cannabis brands grow.
More than 200 times apart
Among the brands we can name, the spread runs from about $334,000 per door for Lume to about $1,400 for Good Tide, a gap of roughly 240 times. Good Day Farm earns about $126,000 per door from 269 stores. At the other end sit the household names: Jeeter at about $7,700 per door across 4,183 stores, ROVE at $6,400, WYLD at $3,700, and the edible makers Camino, Smokiez and Wana between $2,400 and $3,100.
STIIIZY and RYTHM break the pattern. They are in 2,962 and 1,877 stores and still earn $18,000 to $22,000 per door. That is how STIIIZY reaches the highest estimated revenue of any brand on the network, about $53 million, with less than half of WYLD's reach.
Reach and depth pull in opposite directions
Across all 100 brands, the correlation between the log of doors and the log of revenue per door is -0.81. The median brand earns about $8.7k per door, and the brands far from it on one measure tend to be far from it on the other, in the opposite direction.
Part of that comes from how the list is built. A brand in a few hundred stores only reaches the top 100 if each store sells a lot, so a revenue cut favors deep, narrow brands. The size of the spread is still the finding. Brands reach the same revenue tier by very different routes.
Every step up in reach costs depth
Grouping brands by reach makes the pattern hard to miss. The 12 brands in fewer than 250 stores earn about $41k per door between them. The three brands in 4,000 stores or more earn about $4.1k. Each band in between falls in order, with no exceptions.
Two ways into the top 100
The 52 narrow brands, each in fewer than 1,000 stores, hold 20% of the doors in the top 100 but 41% of its estimated revenue. The 48 wide brands hold the other 80% of doors and 59% of revenue. Per door, the narrow group earns about $16k and the wide group about $5.7k.
Exhibit 5: Two ways into the top 100
- Brands: Narrow brands (under 1,000 doors): 52; Wide brands (1,000+ doors): 48
- Doors: Narrow brands (under 1,000 doors): 23,877; Wide brands (1,000+ doors): 98,018
- Estimated revenue: Narrow brands (under 1,000 doors): $386M; Wide brands (1,000+ doors): $557M
- Revenue per door, pooled: Narrow brands (under 1,000 doors): $16k; Wide brands (1,000+ doors): $5.7k
- Revenue per door, median brand: Narrow brands (under 1,000 doors): $15k; Wide brands (1,000+ doors): $4.3k
The narrow route often means owning the shelf. Lume and Good Day Farm both run their own dispensaries, where their products get prime placement and a full range. The wide route is wholesale: an edible, vape or device that fits any store's menu and sells in small amounts to thousands of buyers. Puffco, a device maker, sits at the far wide end, at about $1,200 per door in 4,124 stores.
What it means
For brands. Doors cost money as well as bringing reach. Each new store adds a buyer to manage, sales visits, samples and a shelf to defend. A brand adding doors should know whether the new stores perform like its best ones or its weakest. Revenue per door is the number that shows it.
For retailers. The widest brands are the safest buys because shoppers know them, but they earn the least per store. A brand with strong per-door sales in other markets may be the better use of a shelf, even if shoppers in your state have not heard of it yet.
Our view: door count is the cannabis industry's favorite vanity metric. Revenue per door is the one that tells a brand whether its growth is working.
Coming up
- Brands beyond the top 100. Revenue per door for the widest-reaching brands that miss a revenue cut.
- Week-over-week reach. Which brands gain and lose doors, once store coverage in the weekly snapshots is stable again.
- Ghost rates by brand. How often widely carried brands show up out of stock, following our Ghost Menus issue.
Data and methods
Doors are the number of dispensaries listing the brand on their menus, and states are the number of US states and Canadian provinces where it is listed, from the Trees.Cloud brand reach snapshot of October 31, 2026 (13,641 stores). Estimated revenue is Trees.Cloud's model estimate of each brand's revenue in that snapshot, built from menu data rather than reported sales. Read the dollar figures as comparable across brands, not as audited totals. The group is the 100 brands with the highest estimated revenue (a cut-off of about $3.9 million). Because the group is selected by revenue, brands in few stores appear only if they sell a lot per store, which strengthens the negative relationship between reach and revenue per door. Banded and narrow-versus-wide figures pool all brands in the group. Only brands that have cleared naming are named. We use the October 31 snapshot because store coverage changed in the November snapshots. Correlations in this brief are not proof of cause.
About Trees.Cloud
Trees.Cloud reads dispensary menus across the US and Canada and turns them into market data on prices, deals, brands and inventory. This research brief publishes weekly. Follow Trees.Cloud for next week's issue.
