Welcome to our dedicated page for Locafy Ordinary Share news (Ticker: LCFY), a resource for investors and traders seeking the latest updates and insights on Locafy Ordinary Share stock.
Locafy Limited Ordinary Share (symbol: LCFY) is a globally recognized software-as-a-service (SaaS) company specializing in local search engine marketing. The company, founded in 2009 and headquartered in Perth, Australia, aims to revolutionize the $700 billion SEO sector by helping businesses and brands increase their search engine relevance and prominence using a fast, easy, and automated approach.
Locafy operates through three main segments: Publishing, Reseller, and Channel Sales. The company's core technology platform enables the publishing of virtually any type of content to any device with a web browser. Locafy derives the majority of its revenue from Australia and New Zealand.
Locafy’s flagship product, Article Accelerator, is a specialized SEO technology designed to improve the visibility of advertorials in online search results. Recent trials in the U.S. have shown impressive results, leading to commercial agreements with notable advertising agencies. The company's partnerships with firms like Localista and diDNA further enhance its digital publishing and advertising capabilities.
Locafy's recent accomplishments include acquiring the digital assets of legendary Australian luxury media brand Scoop, providing SEO consulting services to Localista, and integrating Localista’s sales team as resellers of the Article Accelerator. These developments aim to transform Localista into a leading online property in Australia’s lifestyle and travel segments.
Locafy has also entered into agreements with diDNA, a top ad tech provider, to enhance its digital property portfolio. This includes deploying diDNA’s advanced advertising technology across Locafy’s directory portfolio, maximizing revenue opportunities.
In collaboration with Yext, Locafy launched the Hotfrog Proximity Page application, which helps businesses enhance their online presence and drive traffic. This application is a key step in Locafy's broader strategy to simplify user experience and ensure data accuracy across multiple online platforms.
Financially, Locafy has reported significant improvements, with a focus on lowering operational costs and enhancing revenue streams through new and existing client engagements. The company has successfully reduced its cost of sales and operating expenses, positioning itself for break-even profitability in the near future.
With a mission to redefine how businesses approach SEO and digital marketing, Locafy’s innovative solutions continue to gain traction, promising substantial growth and expanded market presence in the coming years.
Locafy Limited (Nasdaq: LCFY, LCFYW) announced on March 21, 2023, that it received a notice from Nasdaq regarding its failure to meet the minimum stockholders' equity requirement of $2.5 million, having only $845,407 in equity as of December 31, 2022. The company has 45 days to submit a plan to regain compliance, potentially receiving an extension of up to 180 days if accepted. The letter does not impact the trading of its common stock and warrants, which will continue under the symbols LCFY and LCFYW. Founded in 2009, Locafy aims to enhance search engine prominence for businesses.
Locafy Limited (Nasdaq: LCFY) reported significant financial growth for the 2023 fiscal first half, with total revenue increasing by 58% to $2.8 million from $1.8 million year-over-year. Subscription revenue surged 69% to $2.1 million, driven by a growing reseller base, particularly in North America. The company achieved a 40% increase in Monthly Recurring Revenue (MRR) to $464,000. Despite these gains, the net loss widened to $4.0 million from $1.3 million the previous year. Looking ahead, management projects profitability by the end of 2023, bolstered by product upgrades and cost optimization initiatives.
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