Welcome to our dedicated page for Leafbuyer news (Ticker: LBUY), a resource for investors and traders seeking the latest updates and insights on Leafbuyer stock.
Leafbuyer Technologies, Inc. reports company developments tied to its cannabis marketing technology platform for dispensaries and cannabis brands. Recurring updates cover quarterly and annual operating results, revenue from loyalty, texting, online ordering and web application solutions, and customer acquisition tools used across legal cannabis markets in the United States.
Company news also discusses Leafbuyer.com, network partnerships for cannabis deals and information, cost controls, gross profit trends, and messaging-compliance changes affecting SMS and MMS marketing. Updates often connect operating performance with the company’s restructuring of its messaging platform for FCC 10DLC compliance and the continued commercialization of its Custom App, loyalty and order-ahead products.
Leafbuyer Technologies (OTCQB:LBUY) reported a remarkable 59.5% annualized sales growth in cash sales for September 2022 compared to the same month last year. This growth is attributed to advancements in technology, organic growth, and successful integrations with larger multi-state operators. CEO Kurt Rossner highlighted enhancements in platform features and reduced variable costs for services. The company aims for continued growth and margin expansion through future platform enhancements and customer engagement strategies.
Leafbuyer Technologies (OTCQB:LBUY) announced record-breaking results for the fiscal year ending June 30, 2022.
Annual revenue surged to $3.8 million, reflecting a 43% increase from the prior year. The company reported a net profit of $955,695.
Operational efficiencies were achieved, leading to a 12% reduction in total operating expenses, decreasing from $3,054,637 to $2,698,313.
Additionally, interest expenses on loans were significantly lowered, contributing to a positive cash flow position.
Leafbuyer Technologies announced a 46% year-over-year increase in quarterly revenue, reaching $984,000 for the quarter ending March 31, 2022. The gross profit rose to $292,682, demonstrating significant growth in comparison to $171,331 from the previous period. Additionally, operating expenses decreased to $513,469, while gross margins improved by 17%. CEO Kurt Rossner highlighted plans for continued growth and upcoming product launches.
Leafbuyer Technologies (OTCQB:LBUY) reported a remarkable 58% year-over-year sales growth, achieving the best sales month in its history for March 2022. The increase reflects cash sales booked compared to the same month last year. This success is attributed to new technology developments, integrations with top POS companies, and organic client growth. CEO Kurt Rossner noted a 22% surge in sales over the past four months with significantly reduced overhead costs. Full GAAP quarterly results are expected by May 15, 2022.
Leafbuyer Technologies (OTCQB:LBUY) announced a 53% year-over-year revenue increase for the quarter ending December 31, 2021, rising to $923,829 from $602,787. Gross profit also surged, climbing to $261,770 compared to $115,746 in the same period. Furthermore, selling expenses decreased to $210,885 from $230,852. CEO Kurt Rossner highlighted that this growth outpaces the industry average and reflects ongoing product innovation and expansion of the company's sales footprint.
Leafbuyer Technologies, Inc. (OTCQB:LBUY) reported significant financial growth for the first quarter of fiscal year 2021. Revenue increased to $850,693, a 30.5% rise from $652,723 in the previous year. Operating expenses also declined from $921,967 to $809,632, and net cash used in operations decreased to $116,491 from $427,685. CEO Kurt Rossner emphasized the company's position to capitalize on the expanding cannatech market, aided by their loyalty platform and website.
Leafbuyer Technologies (OTCQB:LBUY) reported significant growth in its loyalty program, achieving 92% growth in traffic and 165% increase in loyalty signups from January to September 2021. CEO Kurt Rossner emphasized the loyalty product line as core to business success, with enhancements planned for the platform. The company provides marketing technology solutions that drive cannabis consumers to dispensaries and product companies nationwide, strengthening its position in the cannabis industry.
Leafbuyer Technologies (OTCQB:LBUY) achieved record sales in August 2021, marking the highest monthly sales total in the company's history. The surge is attributed to strong demand and an expanded product offering, alongside the addition of over 100 new clients in the past four months. CEO Kurt Rossner expressed optimism about the company's growth trajectory and upcoming enhancements to its platform, aiming for continued above-market growth. Leafbuyer continues to be a key player in the cannabis technology sector, providing marketing solutions for cannabis businesses.
Leafbuyer Technologies (OTCQB:LBUY) has announced the launch of a new mobile app product called CANNALERT to enhance communication between cannabis dispensaries and consumers. This app integrates online ordering, messaging, deal alerts, and loyalty programs, ensuring nearly 100% message delivery via push notifications, which avoids SMS costs and legal challenges. CEO Kurt Rossner anticipates full deployment within 60 days, believing the app will drive ROI by providing reliable marketing communication for dispensaries.
Leafbuyer Technologies (OTCQB:LBUY) reported a robust financial performance for the quarter ending March 31, 2021, with revenues increasing by 17% year-over-year. The company also significantly reduced operating expenses by 43%, achieving its first profitable quarter as a public entity with over $100,000 in profits compared to a loss exceeding $1 million in the prior year. The shift towards a SaaS model has enhanced efficiency and recurring revenue streams, fueling further growth and innovation in its product offerings.