Business
Leafbuyer Technologies, Inc. Announces Record Results: 45% Increase in Quarterly Revenue and First Profitable Quarter as Public Company
Leafbuyer Technologies, Inc. Announces Record Results: 45% Increase in Quarterly Revenue and First Profitable Quarter as Public Company.
About this update from Leafbuyer Technologies, Inc.
[{"type":"text","content":"Financial Highlights:Profitable: Net Income of $95,397 in Q2 from a Net Loss of $1,373,858 in the prior yearRevenue rose 45% from $923,829 to $1,341,750 in the second quarter of fiscal year 2022Gross Profit increased 174% from $261,770 to $716,146 in the same periodOperating Expenses decreased 23% from $750,675 to $579,978DENVER, CO / ACCESSWIRE / February 15, 2023 / Leafbuyer Technologies (OTCQB:LBUY) ("Leafbuyer" or "the Company") a leading cannabis technology and marketing platform, announced today that quarterly revenue rose 45% year over year in the quarter ending December 31, 2022. The company also announced that it achieved profitability for the quarter. The financial data reflects the GAAP revenue booked in the quarter versus the same quarter of the previous year.Kurt Rossner, Chief Executive Officer of Leafbuyer stated, "We achieved the best quarter in the Company's existence, even though we streamlined costs and automated many systems. Our growth was significantly higher than the industry average and we are now one of the few publicly traded cannabis marketing firms, that is profitable.""Our goal is to continue this growth and increase earnings while we build industry leading products. We look to launch some significant updates and enhancements to our platform in 2023 as we continue to scale nationally," Rossner added.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 Custom 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 http://www.tech.leafbuyer.com/Contact:Leafbuyer Technologies, Inc.Vida Almich [email protected] Statement Regarding Forward-Looking Information Safe Harbor StatementThis 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 an...