Kaya herb house sales lifted 45 per cent by carnival and IShowSpeed

Kaya Group’s parent company posted a 45 per cent rise in June second-quarter revenue and swung to a quarterly net profit, as the herb houses benefited from travellers, carnival revellers, 4/20 cannabis day events, and a visit from content creator iShowSpeed.

“Kaya has evolved into more than a cannabis company,” said Bali Vaswani, chief executive officer of NUGL, Inc, the OTC-listed operator of the brand.

Revenue for the three months to 30 June reached US$1.26 million, up from US$866,024 a year earlier and 47.7 per cent higher than the March quarter. Gross profit rose to US$610,462, representing a 48.5 per cent margin.

The company reported a net profit of roughly US$32,329, against a net loss of roughly US$391,900 in the 2025 quarter. The year-over-year swing was partly influenced by non-operating items, namely changes in the valuation of derivative liabilities.

“Strong tourism activity, Carnival season, 4/20 celebrations, Easter travel and cultural events contributed to an active quarter,” stated Vaswani. “The highly publicised visit by global content creator IShowSpeed, including a stop at Kaya Kingston and Dubwise Café, also demonstrated the organic international exposure Jamaica and Kaya can generate.”

The 21 year old US content creator visited the island in May streaming to his 55 million followers.

He added that the outlook remains optimistic as the company focuses on “disciplined execution”, product quality and operational efficiency. He said he wants to continue building Kaya into a “Jamaican brand with relevance far beyond Jamaica”.

For the first half, revenue totalled approximately US$2.11 million, up 30.5 per cent, with operating income of roughly US$159,000. Net cash from operating activities was about US$163,400, and cash and equivalents stood at some US$145,150 at the end of June.

The business runs four medical cannabis retail locations in Jamaica—Drax Hall, Kingston, Falmouth and Ocho Rios. Additionally, it owns cultivation and processing operations, bundled with hospitality, food and beverage and cultural experiences.

Kaya opened its first herb house in Drax Hall, St Ann, in March 2018 “as Jamaica’s first legal medical cannabis dispensary”, according to the filings. It continues to build brand awareness via promotions and also operates a pizza brand, which recently secured a drinks deal with a major distributor.

“Kaya Pizza entered into an agreement with Wisynco Group supporting Coca-Cola product placement, branding, equipment and promotional activity across selected Kaya Pizza and related food & beverage locations in Jamaica,” stated Kaya. “The collaboration is intended to enhance guest experience, beverage service infrastructure and branded activations within Kaya Pizza and related hospitality environments.”

Kaya is part of NUGL, which trades on the US over-the-counter markets rather than on a national US exchange.

business@gleanerjm.com