Leafbuyer Technologies, Inc. Announces Results: Revenue up Over 30%
Leafbuyer Technologies, Inc. (OTCQB:LBUY) reported significant financial growth for the first quarter of fiscal year 2021. Revenue increased to $850,693, a 30.5% rise from $652,723 in the previous year. Operating expenses also declined from $921,967 to $809,632, and net cash used in operations decreased to $116,491 from $427,685. CEO Kurt Rossner emphasized the company's position to capitalize on the expanding cannatech market, aided by their loyalty platform and website.
- Revenue rose to $850,693 from $652,723, marking a 30.5% year-over-year increase.
- Operating expenses decreased from $921,967 to $809,632.
- Net cash used in operations decreased significantly from $427,685 to $116,491.
- None.
Financial Highlights:
- Revenue rose to
$850,693 from$652,723 in the first quarter of fiscal year 2021 - Operating expenses decreased from
$921,967 t o$809,632 in the same period - Net Cash used in Operations decreased to
$116,491 from$427,685 in the year
DENVER, CO / ACCESSWIRE / November 16, 2021 / Leafbuyer Technologies, Inc. (OTCQB:LBUY) ("Leafbuyer" or "the Company") a leading cannabis technology and marketing platform, announced today that quarterly cash sales growth rose
Kurt Rossner, Chief Executive Officer of Leafbuyer, stated, "Our 1st quarter results reflect strong growth in revenues and a substantial reduction in cash burn. The company is well positioned going forward to exploit the increasing opportunity in the cannatech market. As we go into the 2nd quarter of fiscal 2022, we believe that strong demand will continue as we continue to expand our national footprint and expand our industry leading technology platform. Our revenue increase was primarily driven by strong demand for our loyalty platform and the value of an industry leading website, http://www.leafbuyer.com."
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.
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