Dear Leafbuyer
Shareholder, Financial Highlights: - Profitable: Net Income of $95,397 in Q2 from a Net Loss of $1,373,858 in the prior year - Revenue rose 45% from $923,829 to $1,341,750
in the second quarter of fiscal year 2022 - Gross Profit increased 174% from $261,770 to $716,146 in the same period - Operating Expenses decreased 23% from $750,675 to $579,978
Please see the full release below for more information. I will continue to keep you informed of future releases. On behalf of the Leafbuyer team, thank you for your support. Kurt Rossner CEO and Chairman of the Board |
Leafbuyer Technologies, Inc, Announces Record Results: 45% increasein Quarterly Revenue and First Profitable Quarter as Public Company DENVER, 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. Forward-Looking
Statements This press release contains statements that constitute "forward-looking statements," including with respect to the Company's business strategy, product development and industry
trends. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements
for revisions or changes after the date of this release, except as required by law. |
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