Leafbuyer Technologies, Inc. Announces Results: 53% increase in Quarterly Revenue

Rhea-AI Summary

Leafbuyer Technologies (OTCQB:LBUY) announced a 53% year-over-year revenue increase for the quarter ending December 31, 2021, rising to $923,829 from $602,787. Gross profit also surged, climbing to $261,770 compared to $115,746 in the same period. Furthermore, selling expenses decreased to $210,885 from $230,852. CEO Kurt Rossner highlighted that this growth outpaces the industry average and reflects ongoing product innovation and expansion of the company's sales footprint.

Positive

• Revenue rose to $923,829, a 53% increase year-over-year.
• Gross Profit increased to $261,770, up from $115,746.
• Selling Expenses decreased to $210,885 from $230,852.

Negative

• None.

Financial Highlights:

• Revenue rose to $923,829 from $602,787 in the second quarter of fiscal year 2021
• Gross Profit increased from $115,746 to $261,770 in the same period
• Selling Expenses decreased from $230,852 to $210,885

DENVER, CO / ACCESSWIRE / February 15, 2022 / Leafbuyer Technologies (OTCQB:LBUY) ("Leafbuyer" or "the Company") a leading cannabis technology and marketing platform, announced today that quarterly revenue rose 53% year over year in the quarter ending December 31, 2021. 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, "We are very pleased with the significant growth over the last twelve months. Our growth was nearly three times the industry average and a substantial acceleration from previous results. We continue to drive innovation with our product development and continue to broaden our national sales footprint."

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 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.

View source version on accesswire.com:
https://www.accesswire.com/688796/Leafbuyer-Technologies-Inc-Announces-Results-53-increase-in-Quarterly-Revenue

FAQ

What were Leafbuyer Technologies' revenue figures for Q4 2021?

Leafbuyer Technologies reported revenue of $923,829 for the quarter ending December 31, 2021.

How much did Leafbuyer Technologies increase its gross profit in Q4 2021?

Gross profit increased to $261,770 in Q4 2021, up from $115,746 in the previous year.

What was the percentage increase in Leafbuyer Technologies' revenue year-over-year?

Leafbuyer Technologies experienced a 53% year-over-year increase in revenue.

How did selling expenses change for Leafbuyer Technologies in Q4 2021?

Selling expenses decreased from $230,852 to $210,885 in Q4 2021.