Business
Lift & Co. Reports Third Quarter Fiscal 2020 Results
Lift & Co. Reports Third Quarter Fiscal 2020 Results.
About this update from Lift & Co Corp
[{"type":"text","content":"\n -Announced strategic partnerships with Nielsen and Enlighten and the addition of Adobe demand-side-platform to enhance the Company’s data-as-a-service Cohesion product--Revenue increased by 41%, loss from operations decreased by 17% for the nine-month period- TORONTO, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Lift & Co. Corp. (\"Lift & Co.\" or the \"Company\") (TSXV:LIFT) (OTCQB:LFCOF) is pleased to announce results for its third quarter ended December 31, 2019. All amounts are in Canadian dollars unless otherwise specified. Additional details may be found in the Company’s financial statements and MD&A filed on SEDAR. MANAGEMENT COMMENTARY The Company is pleased to report strong financial results for the period. Total revenue increased by 41% to $4.6 million for the nine-month period, compared to the same period last year, and loss from operations decreased by 17% to $4.8 million. These improvements were driven by revenue growth across all segments and a focus on improved operational efficiency. During the quarter, the Company announced important partnerships in the development of its Cohesion platform: an exclusive strategic partnership with Nielsen, a leading global measurement and data analytics company, in developing Cohesion Segmentation – powered by Nielsen, a new cannabis consumer profiling and segmentation data product;a strategic partnership with Enlighten, which will provide Lift & Co. with access to over 1,000 US retailers as well as product data, and marks the beginning of the Company’s expansion into the United States; andthe addition of Adobe Advertising Cloud demand-side-platform, which will enable Cohesion clients to seamlessly deliver compliant programmatic advertising to their target consumer segment and brings much-needed industry-standard advertising solutions to the cannabis industry. “We are proud to announce strong results from our third quarter fiscal 2020 and year-to-date, with growth across all Lift & Co. business lines,” said Matei Olaru, CEO, Lift & Co. “We are at the beginning of a pivotal calendar year for brands in the cannabis industry, within which Lift & Co. is establishing a leadership position, particularly with its Cohesion and CannSell platforms.” The introduction of new product formats known as “Cannabis 2.0”...