Top Ancillary Cannabis Stocks to Watch in July 2025

The article highlights ancillary cannabis companies, which provide essential technology, packaging, and logistics support without direct plant handling, as a strategic investment opportunity in the rapidly expanding U.S. cannabis market, projected to exceed $45 billion by 2025. These firms offer exposure to sector growth with reduced legal risks, even as federal reform remains slow. Key companies highlighted for July 2025 include Leafly (LFLY), an online platform facing financial strain despite strong user reach; WM Technology (MAPS), a stable, debt-free tech provider with flat Q1 revenue but positive operating income; and Greenlane (GNLN), an accessory supplier undergoing significant restructuring efforts to regain profitability. Investors are advised to monitor these distinct profiles for potential entry points into the volatile sector.

Analysis

The ancillary cannabis sector offers a strategic entry point into the U.S. cannabis market, projected to exceed $45 billion by 2025, by mitigating the direct legal risks associated with plant-touching operations amid slow federal reform. The analysis highlights three companies with distinct financial health and operational profiles. WM Technology (MAPS) presents the most stable case, reporting flat year-over-year Q1 2025 revenue of $44.6 million but maintaining a positive adjusted operating income of $2.6 million and a debt-free balance sheet, though its new customer growth has decelerated. In contrast, Leafly (LFLY) demonstrates significant market reach but is under financial strain, evidenced by its delisting from Nasdaq to OTC trading and ongoing operational losses that challenge its ability to monetize its large user base. Greenlane (GNLN) is in a deep restructuring phase, having executed a $25 million private placement and a 1-for-750 reverse stock split to maintain its Nasdaq listing, indicating severe distress but a clear strategic effort to stabilize.

Key Decisions for Investors

• Investors could consider WM Technology (MAPS) as a relatively stable anchor for ancillary cannabis exposure due to its positive operating income and debt-free status, but should monitor for a re-acceleration in customer growth as a key catalyst.
• Leafly (LFLY) represents a high-risk, speculative play where potential investors should await confirmed financial results showing a clear path to profitability and reduced operational losses before committing capital.
• Given Greenlane's (GNLN) significant restructuring, including a recent capital raise and massive reverse stock split, it is prudent to remain on the sidelines until the company demonstrates tangible operational improvements and a stabilized financial position.
• Across the ancillary sector, employ strict risk management and utilize technical analysis to identify entry and exit points, as share prices are highly sensitive to regulatory news and individual company performance.