Leafbuyer Technologies, Inc. Announces Q3 Results: 46% increase in Quarterly Revenue

Rhea-AI Summary

Leafbuyer Technologies announced a 46% year-over-year increase in quarterly revenue, reaching $984,000 for the quarter ending March 31, 2022. The gross profit rose to $292,682, demonstrating significant growth in comparison to $171,331 from the previous period. Additionally, operating expenses decreased to $513,469, while gross margins improved by 17%. CEO Kurt Rossner highlighted plans for continued growth and upcoming product launches.

Positive

• Quarterly revenue rose 46% year-over-year to $984,000.
• Gross profit increased to $292,682 from $171,331.
• Operating expenses decreased to $513,469 from $600,733.
• Gross margins improved by 17%.

Negative

• None.

Financial Highlights:

• Quarterly Revenue rose to $984,000 from $672,000 in the third quarter of fiscal year 2021
• Gross Profit increased to $292,682 from $171,331 in the same period
• Operating Expenses decreased to $513,469 from $600,733
• Gross Margins increased 17%

DENVER, CO / ACCESSWIRE / May 17, 2022 / Leafbuyer Technologies, Inc (OTCQB:LBUY) ("Leafbuyer" or "the Company") a leading cannabis technology and marketing platform, announced today that quarterly revenue rose 46% year over year in the quarter ending March 31, 2022. The increase reflects the GAAP revenue booked in the quarter versus the same quarter of the previous year.

Kurt Rossner, Chief Executive Officer of Leafbuyer, stated, "Our company continues to post growth that is significantly higher than industry averages. The main goals for the remainder of this year will be to continue rapid growth while additionally increasing margins across all product lines. We have several new product launches on the horizon that are super exciting and will hopefully drive significant growth".

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 720.427.3927
vida@leafbuyertech.com

Cautionary Statement Regarding Forward-Looking Information Safe Harbor Statement

This 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 timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in the forward-looking statements due to several factors detailed from time to time in our filings with the Securities and Exchange Commission. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings.

SOURCE: Leafbuyer Technologies, Inc.

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https://www.accesswire.com/701712/Leafbuyer-Technologies-Inc-Announces-Q3-Results-46-increase-in-Quarterly-Revenue

FAQ

What was Leafbuyer's quarterly revenue for the third quarter of fiscal year 2022?

Leafbuyer's quarterly revenue rose to $984,000, reflecting a 46% increase year-over-year.

How much did Leafbuyer's gross profit increase in the latest quarter?

Leafbuyer's gross profit increased to $292,682 from $171,331 in the same quarter last year.

What are Leafbuyer's operating expenses for the recent quarter?

Leafbuyer's operating expenses decreased to $513,469 from $600,733 in the previous year.

What improvements did Leafbuyer see in gross margins?

Leafbuyer reported a 17% increase in gross margins for the latest quarter.