Leafbuyer Technologies, Inc. Announces Quarterly Results

Rhea-AI Summary

Leafbuyer Technologies Inc. (OTCQB:LBUY), a leading cannabis technology company, has announced its quarterly results for the period ending March 31, 2024. The company reported a 16.4% increase in year-over-year revenue growth and a 9% increase in gross profit. This growth rate is nearly double the industry's projected compound annual growth rate of 8.5%, according to New Frontier Data.

The company's success is attributed to increased sales of its loyalty, texting, online ordering, and web application solutions. Leafbuyer's CEO, Kurt Rossner, emphasized the company's superior offering in the market, noting that many competitors have experienced year-to-year declines in topline numbers. Leafbuyer generates revenue through its marketing technology platforms, which connect cannabis consumers with dispensaries and product companies across the country.

Positive

• 16.4% increase in year-over-year revenue growth
• 9% increase in gross profit
• Growth rate nearly double the industry's projected compound annual growth rate of 8.5%
• Increased sales of loyalty, texting, online ordering, and web application solutions

Negative

• None.

16.4% Increase in Year Over Year Revenue Growth and a 9% increase in Gross profit

DENVER, CO / ACCESSWIRE / September 20, 2024 / Leafbuyer Technologies Inc. ("Leafbuyer" or "the Company") (OTCQB:LBUY), a leading cannabis technology company, announced today that revenue grew 16.4% and gross profit increased by 9% in the quarter ending March 31,2024.

Leafbuyer's 16.4%% year-over-year revenue growth rate is nearly double the industry's projected compound annual growth rate of 8.5%, according to New Frontier Data. Increased sales of the Company's loyalty, texting, online ordering, and web application solutions account for the continued success.

"The increased sales we have experienced represent our superior offering to the market. Many competitors have seen year to year declines in topline numbers. We continue to be aggressive in establishing a superior product offering and will continue to do so," said Kurt Rossner, CEO of Leafbuyer.

Leafbuyer realizes revenue from the sale of its sophisticated marketing technology platforms, which drive cannabis consumers to dispensaries and product companies across the country. The solutions include loyalty programs, mobile application-based order ahead, and access to millions of cannabis consumers through the Leafbuyer.com website and its network partners.

About Leafbuyer Technologies, Inc.
Leafbuyer Technologies is one of the most comprehensive marketing technology providers in the cannabis industry. Hundreds of cannabis businesses use the Leafbuyer texting and loyalty platform and the Smart App solution to engage with current and potential customers. Leafbuyer.com is a robust online resource for cannabis consumers, and the company's partnerships with other websites have created a national network of cannabis deals and information that reaches millions of consumers every month

Learn more at tech.leafbuyer.com

Contacts
Leafbuyer Technologies, Inc.
Vida Almich 720-427-3927
vida@leafbuyertech.com

Cautionary Statement Regarding Forward-Looking Information
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in the forward-looking statements due to several factors detailed from time to time in our filings with the Securities and Exchange Commission. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings.

SOURCE: Leafbuyer Technologies, Inc.

View the original press release on accesswire.com

FAQ

What was Leafbuyer Technologies' (LBUY) revenue growth for the quarter ending March 31, 2024?

Leafbuyer Technologies (LBUY) reported a 16.4% increase in year-over-year revenue growth for the quarter ending March 31, 2024.

How did Leafbuyer's (LBUY) gross profit change in the reported quarter?

Leafbuyer Technologies (LBUY) announced a 9% increase in gross profit for the quarter ending March 31, 2024.

How does Leafbuyer's (LBUY) growth compare to the cannabis industry's projected growth rate?

Leafbuyer's 16.4% year-over-year revenue growth is nearly double the industry's projected compound annual growth rate of 8.5%, according to New Frontier Data.

What products contributed to Leafbuyer's (LBUY) sales increase?

Increased sales of Leafbuyer's loyalty, texting, online ordering, and web application solutions contributed to the company's continued success.