Leafbuyer Technologies, Inc. Announces Significant Loyalty Growth

Rhea-AI Summary

Leafbuyer Technologies, Inc. (OTCQB:LBUY) reported a 33% year-over-year increase in its texting and loyalty platform usage by August 2020, reaching record volumes for text credits. This growth is attributed to a strong shift in strategy initiated in April, leading to a 62% rise in average monthly MMS messages. The company aims to aggressively onboard new clients to further capitalize on the expanding demand for its services. Leafbuyer provides technology solutions for cannabis businesses, enhancing their communication and customer engagement.

Positive

• 33% year-over-year growth in platform usage.
• Record month for text credit volume in August 2020.
• 62% increase in average monthly MMS messages sent.
• Strong demand for communication solutions in the cannabis industry.

Negative

• None.

Company Books 33% Year-Over-Year Platform Growth

DENVER, CO / ACCESSWIRE / September 9, 2020 / Leafbuyer Technologies, Inc. ("Leafbuyer" or "the Company") (OTCQB:LBUY), a leading cannabis technology platform, announced today a record-breaking month and a 33% usage increase within its texting and loyalty platform through August 2020. The 33% increase reflects text credit volume for January 2020 through August 2020 versus the same 2019 period. August 2020 also represented the highest month on record for text credit volume for the platform.

"The strong pivot we made at the beginning of the April is having a significant impact on our texting and loyalty platform growth", said Kurt Rossner, CEO of Leafbuyer. "By rapidly increasing the number of customers on the platform, we have seen substantial growth."

Leafbuyer earns revenue from Short Message Service (SMS) and Multimedia Service (MMS) credit usage of its customers. A major cause for the year-over-year increases is a 62% increase of average monthly MMS messages sent since the beginning of 2020.

"This growth places Leafbuyer in an extremely strong position to meet our goals," continued Rossner. "Demand for these communication solutions continues to expand, and we will aggressively onboard new clients in the coming months to accelerate this positive trend."

The Company provides technology solutions to cannabis dispensaries and product companies which include a custom branded mobile application, texting and loyalty platform, online ordering solutions, and access to millions of cannabis consumers through the Leafbuyer.com website and its network partners.

About Leafbuyer Technologies, Inc.

Leafbuyer Technologies is one of the most comprehensive technology and communication software providers for the cannabis industry. Leafbuyer.com is an all-inclusive online resource for cannabis deals and information. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer's national network of cannabis deals and information reaches millions of consumers every month. Leafbuyer is the official cannabis deals platform of Dope Media, Sensi Magazine, and Voice Media Group.

Learn more at Tech.Leafbuyer.com

Contacts

Leafbuyer Technologies, Inc.
Andre Leonard, +720-432-5593
aleonard@leafbuyer.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/605299/Leafbuyer-Technologies-Inc-Announces-Significant-Loyalty-Growth

FAQ

What growth did Leafbuyer Technologies experience in August 2020?

Leafbuyer Technologies reported a 33% year-over-year increase in usage of its texting and loyalty platform by August 2020.

What contributed to Leafbuyer's growth in 2020?

A significant pivot in strategy implemented in April 2020 led to a 62% increase in average monthly MMS messages sent.

What is Leafbuyer's stock symbol?

Leafbuyer's stock symbol is LBUY, traded on the OTCQB.

How does Leafbuyer generate revenue?

Leafbuyer earns revenue from SMS and MMS credit usage by its cannabis business customers.