DENVER, CO / ACCESSWIRE / September 16, 2020 / Leafbuyer Technologies, Inc. ("Leafbuyer" or "the Company") (OTCQB:LBUY), a leading cannabis technology company, announced today a 32% increase in collected billings for the period of June 2020 through August 2020. The 32% increase reflects billings from dispensary customers in the period versus March 2020 through May 2020.
“We are constantly striving to exceed our sales goals and add to our recurring revenue model,” said Kurt Rossner, CEO of Leafbuyer. “The initiatives we set in place earlier in the year are having a significant impact on collections, and we foresee this growth continuing through the end of 2020.”
The Company’s 32% growth rate is more than double the industry’s projected compound annual growth rate of 14%, according to New Frontier Data. Progress is attributed to high customer retention and increased recurring revenue in the dispensary vertical.
“Our technology solutions are in high demand in the current cannabis industry landscape,” continued Rossner. “I am confident that we will achieve our ultimate goal of profitability by providing excellent value to our customers and adding to their bottom line.”
Leafbuyer realizes revenue from the sales of its texting and loyalty application, online ordering platform, and access to millions of cannabis consumers through the Leafbuyer.com website and its network partners.
