Business
Leafbuyer Technologies, Inc. Announces Results: 31% Increase in Quarterly Revenue and 35% Increase in Profit Margin
Leafbuyer Technologies, Inc. Announces Results: 31% Increase in Quarterly Revenue and 35% Increase in Profit Margin.
About this update from Leafbuyer Technologies, Inc.
[{"type":"text","content":"Financial Highlights:Revenue rose 31% from $984,010 to $1,286,132 in the third quarter of fiscal year 2023Revenue Increase was more than 9X Industry Growth RateExpanding Profit Margins: Gross Margins increased 35% Year to YearGross Profit increased 76% from $292,682 to $516,431 in the same period$250,000 reduction in debt and 12% reduction in total liabilitiesDENVER, CO / ACCESSWIRE / May 16, 2023 / Leafbuyer Technologies Inc. (OTCQB:LBUY) ("Leafbuyer" or "the Company") a leading cannabis technology and marketing platform, announced today that quarterly revenue rose 31% year over year in the quarter ending March 31st, 2023. 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 continue to drive growth in our core product line with quarterly revenue growth nearly nine times the overall cannabis market. We are also working hard to continue our margin expansion across all our product lines. The second half of this year is exciting as we begin to monetize our total network and continue to build out advanced features to our existing platform."The company also reported a reduction of 12% in its total liabilities and a nearly $250,000 paydown in its overall debt.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 Leafbuyer TechnologiesContact: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 anticipated or expected, including statements related to the amount and tim...