710 Labs Company Profile

Background

Founded in 2010 by Brad Melshenker, 710 Labs is a multi-state cannabis brand renowned for its commitment to producing high-quality, small-batch cannabis products. The company's mission is to disrupt the industry through obsessive quality, emphasizing "quality over everything"—including people, thinking, expression, and life. With operations spanning California, Colorado, Florida, Michigan, and New Jersey, 710 Labs has established itself as a leader in the cannabis industry, particularly in the concentrates market.

Key Strategic Focus

710 Labs specializes in the cultivation and production of premium cannabis concentrates and flower products. The company employs both solventless and solvent-based extraction methods to create a diverse product lineup, including water hash, rosin, live resin, and vape pens. By hand-selecting exotic cultivars from renowned breeders and maintaining stringent quality control measures, 710 Labs targets discerning consumers seeking high-quality cannabis experiences.

Financials and Funding

As of the latest available data, 710 Labs has an estimated annual revenue of $56.3 million, with approximately 204 employees. The company has experienced a 10% growth in employee count over the past year. Specific details regarding funding history and notable investors are not publicly disclosed.

Pipeline Development

710 Labs continually expands its product offerings through the development of new strains and product lines. Recent additions include the "Persy" line, featuring top-tier products like Persy Rosin and Persy Sauce, as well as collaborations with artists for exclusive product drops. The company also plans to introduce new flavors to its genetic library through extensive pheno hunting for new cultivars.

Technological Platform and Innovation

The company employs both solventless and solvent-based extraction methods to create a diverse product lineup, including water hash, rosin, live resin, and vape pens. By hand-selecting exotic cultivars from renowned breeders and maintaining stringent quality control measures, 710 Labs targets discerning consumers seeking high-quality cannabis experiences.

Leadership Team

Brad Melshenker: Founder and CEO, with a background in the fashion industry before transitioning to cannabis. He emphasizes building a company culture that values quality and employee engagement.

Ian Skelly: Chief Innovation Officer, responsible for overseeing product development and innovation within the company.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within the company's leadership team.

Competitor Profile

Market Insights and Dynamics

710 Labs operates in a competitive cannabis market, particularly in the concentrates segment. In California, the company maintained a strong presence, ranking second in the concentrates market in October and November 2024, before experiencing a slight dip to fourth place by January 2025. This indicates a dynamic market with shifting consumer preferences and competitive pressures.

Competitor Analysis

Key competitors include:

STIIIZY: Demonstrated a strong upward trajectory, climbing from rank 4 in November to rank 2 by January, with sales peaking at $1,654,307.

Punch Extracts / Punch Edibles: Overtook 710 Labs to secure the second position in December, despite a slight dip in sales in January.

These competitors have shown resilience and growth, highlighting the need for strategic adjustments by 710 Labs to maintain and enhance its market position.

Strategic Collaborations and Partnerships

710 Labs has engaged in several collaborations to strengthen its market position and innovation capacity:

Fear of Boof: Collaborated on Persy Doink releases in Michigan, both in-store and exclusive to The List.

The Flowery: Partnered to establish a state-of-the-art dispensary in North Miami, Florida, expanding 710 Labs' presence in the state.

Artist Collaborations: Released limited-edition artist drops and collaborations with Richard Prince, Camp High, Joe Roberts (LSD World Peace), The Elder Statesman, and Jaleel White.

Operational Insights

710 Labs' commitment to quality and innovation serves as a distinct competitive advantage. The company's focus on small-batch, hand-trimmed products and unique offerings like "Noodle Doinks" (hand-rolled joints with rotini noodle filters) differentiates it from competitors. However, the dynamic market landscape necessitates continuous innovation and strategic partnerships to maintain and enhance its market position.

Strategic Opportunities and Future Directions

Looking ahead, 710 Labs plans to:

Expand Product Lines: Introduce new product lines such as Rosin Pods and Persy Doinks, as well as add new flavors to its genetic library through extensive pheno hunting.

Geographic Expansion: Continue expanding into new states and markets, including New Jersey, where the company is preparing to launch products that meet its quality standards.

Enhance Direct-to-Consumer Platforms: Further develop "The List," a direct-to-consumer platform that delivers a curated menu to clients, ensuring product freshness and quality.

By leveraging its strengths in quality and innovation, 710 Labs is well-positioned to capitalize on these opportunities and achieve its future objectives.