Leafly Holdings, Inc. Reports Second Quarter 2024 Financial Results
Leafly Holdings (NASDAQ: LFLY) reported Q2 2024 financial results with revenue of $8.7 million, down from $10.7 million in Q2 2023. The company posted a net loss of $1.3 million and adjusted EBITDA of $0.5 million. Retail revenue decreased to $7.3 million, while brand revenue fell to $1.4 million. Despite lower revenue, Leafly improved its gross margin to 89% and reduced operating expenses by 17% to $8.4 million.
The company ended the quarter with $13.6 million in cash, excluding restricted cash. Leafly is focusing on operational efficiency and stabilizing its core business. For Q3 2024, the company expects revenue of around $8.4 million and an adjusted EBITDA loss of less than $1.0 million.
Leafly Holdings (NASDAQ: LFLY) ha riportato i risultati finanziari del secondo trimestre 2024 con entrate pari a 8,7 milioni di dollari, in calo rispetto ai 10,7 milioni di dollari del secondo trimestre 2023. L'azienda ha registrato una perdita netta di 1,3 milioni di dollari e un EBITDA rettificato di 0,5 milioni di dollari. Le entrate al dettaglio sono scese a 7,3 milioni di dollari, mentre le entrate del marchio sono diminuite a 1,4 milioni di dollari. Nonostante la riduzione delle entrate, Leafly ha migliorato il suo margine lordo, portandolo all'89% e ha ridotto le spese operative del 17%, scendendo a 8,4 milioni di dollari.
L'azienda ha chiuso il trimestre con 13,6 milioni di dollari in cassa, escluse le disponibilità liquide vincolate. Leafly si sta concentrando sull'efficienza operativa e sulla stabilizzazione del suo core business. Per il terzo trimestre del 2024, l'azienda prevede entrate di circa 8,4 milioni di dollari e una perdita di EBITDA rettificato di meno di 1,0 milioni di dollari.
Leafly Holdings (NASDAQ: LFLY) informó los resultados financieros del segundo trimestre de 2024 con ingresos de 8.7 millones de dólares, una disminución desde los 10.7 millones de dólares en el segundo trimestre de 2023. La compañía registró una pérdida neta de 1.3 millones de dólares y un EBITDA ajustado de 0.5 millones de dólares. Los ingresos minoristas cayeron a 7.3 millones de dólares, mientras que los ingresos de la marca bajaron a 1.4 millones de dólares. A pesar de la disminución de los ingresos, Leafly mejoró su margen bruto al 89% y redujo los gastos operativos en un 17%, hasta 8.4 millones de dólares.
La empresa finalizó el trimestre con 13.6 millones de dólares en efectivo, excluyendo el efectivo restringido. Leafly se está enfocando en la eficiencia operativa y en estabilizar su negocio principal. Para el tercer trimestre de 2024, la compañía espera ingresos de alrededor de 8.4 millones de dólares y una pérdida de EBITDA ajustado de menos de 1.0 millones de dólares.
Leafly Holdings (NASDAQ: LFLY)는 2024년 2분기 재무 결과를 보고하며 매출이 870만 달러로, 2023년 2분기에서 1070만 달러에서 감소했습니다. 회사는 130만 달러의 순손실을 기록했으며 500만 달러의 조정 EBITDA를 보였습니다. 소매 매출은 730만 달러로 감소했으며, 브랜드 매출은 140만 달러로 줄어들었습니다. 수익 감소에도 불구하고 Leafly는 총 마진을 89%로 개선하고 운영 비용을 17% 줄여 840만 달러로 조정했습니다.
회사는 제한된 현금을 제외하고 1360만 달러의 현금으로 분기를 마감했습니다. Leafly는 운영 효율성 및 핵심 사업의 안정화에 집중하고 있습니다. 2024년 3분기에는 약 840만 달러의 매출과 100만 달러 미만의 조정 EBITDA 손실을 예상하고 있습니다.
Leafly Holdings (NASDAQ: LFLY) a annoncé les résultats financiers du deuxième trimestre 2024 avec des revenus de 8,7 millions de dollars, en baisse par rapport à 10,7 millions de dollars au deuxième trimestre 2023. L'entreprise a enregistré une perte nette de 1,3 million de dollars et un EBITDA ajusté de 0,5 million de dollars. Les revenus du secteur de la vente au détail ont diminué à 7,3 millions de dollars, tandis que les revenus de la marque ont chuté à 1,4 million de dollars. Malgré cette baisse des revenus, Leafly a amélioré sa marge brute à 89 % et a réduit ses dépenses d'exploitation de 17 % à 8,4 millions de dollars.
L'entreprise a terminé le trimestre avec 13,6 millions de dollars de liquidités, hors liquidités restreintes. Leafly se concentre sur l'efficacité opérationnelle et la stabilisation de son activité principale. Pour le troisième trimestre 2024, l'entreprise s'attend à des revenus d'environ 8,4 millions de dollars et à une perte d'EBITDA ajusté de moins de 1 million de dollars.
Leafly Holdings (NASDAQ: LFLY) hat die finanziellen Ergebnisse für das 2. Quartal 2024 veröffentlicht mit Umsätzen von 8,7 Millionen Dollar, ein Rückgang von 10,7 Millionen Dollar im 2. Quartal 2023. Das Unternehmen verzeichnete einen Nettoverlust von 1,3 Millionen Dollar und ein bereinigtes EBITDA von 0,5 Millionen Dollar. Der Einzelhandelsumsatz sank auf 7,3 Millionen Dollar, während der Markenumsatz auf 1,4 Millionen Dollar fiel. Trotz niedrigerer Einnahmen verbesserte Leafly seine Bruttomarge auf 89% und senkte die Betriebskosten um 17% auf 8,4 Millionen Dollar.
Das Unternehmen schloss das Quartal mit 13,6 Millionen Dollar Bargeld ab, ohne eingeschränktes Bargeld. Leafly konzentriert sich auf betriebliche Effizienz und die Stabilisierung seines Kerngeschäfts. Für das 3. Quartal 2024 erwartet das Unternehmen Einnahmen von rund 8,4 Millionen Dollar und einen bereinigten EBITDA-Verlust von weniger als 1,0 Millionen Dollar.
- Improved gross margin to 89% from 88% in Q2 2023
- Reduced operating expenses by 17% to $8.4 million
- Adjusted EBITDA improved to $0.5 million from $0.1 million in Q2 2023
- Retailer ARPA increased by 23% to $684
- Revenue decreased to $8.7 million from $10.7 million in Q2 2023
- Retail revenue declined to $7.3 million from $8.8 million in Q2 2023
- Brand revenue fell to $1.4 million from $1.8 million in Q2 2023
- Net loss of $1.3 million
- Ending retail accounts decreased by 32% to 3,595
- Cash balance decreased by $0.5 million compared to Q1 2024
- Projected adjusted EBITDA loss for Q3 2024
Insights
Leafly's Q2 2024 results paint a mixed picture. Revenue declined
The adjusted EBITDA of
The Q3 guidance of
Leafly's performance reflects broader challenges in the cannabis industry. The 32% decline in retail accounts is concerning, indicating potential market saturation or increased competition. However, the
The company's focus on operational efficiency and cost discipline is prudent given the current market conditions. Leafly's position as a trusted cannabis discovery marketplace could be valuable as the industry matures, but it needs to find ways to attract and retain retail accounts to drive growth.
The mention of "green shoots" associated with new initiatives is intriguing, but investors should remain cautious until concrete results materialize. The cannabis market's evolution and potential federal regulatory changes could significantly impact Leafly's future prospects.
Delivered Q2 2024 revenue of
Reported net loss of
“We remain focused on enhancing operational efficiency and stabilizing our core business while delivering value to our partners,” said Yoko Miyashita, CEO of Leafly. “We are living in an era of liberalized access to cannabis and we believe the demand for Leafly’s trusted voice and guidance has never been greater. We remain invigorated by the opportunities to connect retailers and brands with high-intent consumers.”
Second Quarter Financial Results
-
Revenue was
, compared to$8.7 million in Q2 2023.$10.7 million -
Retail revenue was
, compared to$7.3 million in Q2 2023.$8.8 million -
Brand revenue was
, compared to$1.4 million in Q2 2023.$1.8 million -
Gross margin was
89% , an improvement over Q2 2023 gross margin of88% . -
Total operating expense was
, a$8.4 million 17% reduction from in Q2 2023, reflecting operational rigor and continued focus on cost discipline.$10.2 million -
Net loss was
, compared to net loss of$1.3 million for Q2 2023.$1.4 million -
Adjusted EBITDA1, a non-GAAP measure, was
compared to$0.5 million in Q2 2023.$0.1 million -
Ended the quarter with
in cash, excluding restricted cash, a decrease of$13.6 million compared to$0.5 million at the end of Q1 2024.$14.1 million
“Leafly continues to focus on operating efficiently and managing the business towards profitability,” said Suresh Krishnaswamy, CFO of Leafly. “We have a number of projects and initiatives underway to stabilize revenues. We are seeing green shoots associated with these efforts and will have more confidence as we see the results of these initiatives over the next few quarters.”
Key Performance Metrics2
|
Three Months Ended June 30, |
||||||||||||
|
2024 |
|
2023 |
|
Change |
|
Change (%) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|||
Ending retail accounts |
|
3,595 |
|
|
|
5,261 |
|
|
|
(1,666 |
) |
|
- |
Retailer ARPA |
$ |
684 |
|
|
$ |
558 |
|
|
$ |
126 |
|
|
|
Cash and Liquidity
The Company ended the quarter with
Financial Outlook
Today, Leafly is issuing guidance for the third quarter of 2024. Based on current business trends and conditions, we expect third quarter revenue of around
_______________________________________________________ |
|
Webcast and Conference Call Information
Leafly will host a conference call and webcast to discuss the results today, Thursday, August 8, 2024 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). A live webcast of the call can be accessed from Leafly’s Investor Relations website at https://investor.leafly.com.
The live call may also be accessed via telephone at (833) 470-1428 toll-free domestically. Please reference conference ID: #803344. An archived version of the webcast will be available from the same website after the call.
About Leafly
Leafly helps millions of people discover cannabis each year. Leafly's powerful tools help shoppers make informed purchasing decisions and empower cannabis businesses to attract and retain loyal customers through advertising and technology services. Learn more at Leafly.com or download the Leafly mobile app through Apple’s App Store or Google Play.
Definitions of Key Performance Metrics
Ending retail accounts
Ending retail accounts is the number of paying retailer accounts with Leafly as of the last month of the respective period. Retail accounts can include more than one retailer. We believe this metric is helpful for investors because it represents a portion of the volume element of our revenue and provides an indication of our market share. Management believes this metric offers useful information in understanding consumer behavior, trends in our business, and our overall operating results.
Retailer average revenue per account (“ARPA”)
Retailer ARPA is calculated as monthly retail revenue, on an account basis, divided by the number of retail accounts that were active during that same month. An active account is one that had an active paying subscription with Leafly in the month. We believe this metric is helpful for investors because it represents the price element of our revenue. Management believes this metric offers useful information in understanding consumer behavior, trends in our business, and our overall operating results.
Given that each of ending retail accounts and retailer ARPA are operational measures and that the Company’s methodology for calculating these measures does not meet the definition of a non-GAAP measure, as that term is defined by the
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the services offered by Leafly and the markets in which Leafly operates, business strategies, performance metrics, industry environment, potential growth opportunities, projected future results, financial outlook, expected results from cost saving measures, management objectives, and initiatives undertaken to improve our liquidity and capitalization. These forward-looking statements generally are identified by the words “believe,” “expect,” “intend,” “future,” “forecast,” “outlook,” “may,” “will,” "continue,” "potential," and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions as of the date of this release and, as a result, are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by the cautionary statements contained herein. These cautionary statements are being made pursuant to federal securities laws with the intention of obtaining the benefits of the “safe harbor” provisions of such laws.
There may be events in the future that Leafly is not able to predict accurately or over which it has no control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The risks and uncertainties described in the “Risk Factors” section of Leafly’s Annual Report on Form 10-K for the year ended December 31, 2023 filed by Leafly with the SEC on April 1, 2024, and in the other documents filed by Leafly from time to time with the SEC provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations described by Leafly in such forward-looking statements.
These examples include, but are not limited to:
- the substantial doubt regarding our ability to continue as a going concern because we do not currently have the ability to repay our convertible notes due in January 2025;
- Leafly’s ability to regain compliance with the Nasdaq Stock Market LLC’s (“Nasdaq”) continued listing requirements and maintain the listing of Leafly’s shares of common stock and warrants on the Nasdaq Capital Market, which will be subject to certain approvals by Nasdaq, among other contingencies and factors;
- Leafly’s ability to raise sufficient capital or obtain financing or secure other sources of liquidity in the future to execute its business plan and pay its debt and other obligations when due;
- the size, demands and growth potential of the markets for Leafly’s products and services and Leafly’s ability to serve those markets;
- the impact of macro-economic conditions, including the resulting effect on consumer spending at local cannabis retailers and the level of advertising spending by such retailers;
- the degree of market acceptance and adoption of Leafly’s products, services and pricing changes;
- Leafly’s ability to attract and retain customers;
- Leafly’s success in retaining or recruiting officers, key employees or directors;
- the impact of the regulatory environment and complexities with compliance related to such environment, including compliance with restrictions imposed by federal (under which cannabis is illegal) or applicable state law and slower legalization efforts at the state level; and
- other factors impacting Leafly’s business, operations and financial performance.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Leafly assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Leafly does not give any assurance that it will achieve its expectation.
LEAFLY HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (in thousands, except per share amounts) |
|||||||
|
June 30, 2024 |
|
December 31, 2023 |
||||
ASSETS |
|
|
(Audited) |
||||
Current assets |
|
|
|
||||
Cash and cash equivalents |
$ |
13,573 |
|
|
$ |
15,293 |
|
Accounts receivable, net of allowance for credit loss of |
|
2,203 |
|
|
|
2,635 |
|
Prepaid expenses and other current assets |
|
2,014 |
|
|
|
1,074 |
|
Total current assets |
|
17,790 |
|
|
|
19,002 |
|
Property, equipment, and software, net |
|
2,499 |
|
|
|
2,554 |
|
Restricted cash - long-term portion |
|
247 |
|
|
|
251 |
|
Other assets |
|
2 |
|
|
|
28 |
|
Total assets |
$ |
20,538 |
|
|
$ |
21,835 |
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
||||
Current liabilities |
|
|
|
||||
Convertible promissory notes, net |
$ |
29,080 |
|
|
$ |
— |
|
Accounts payable |
|
666 |
|
|
|
813 |
|
Accrued expenses and other current liabilities |
|
3,514 |
|
|
|
2,503 |
|
Deferred revenue |
|
1,852 |
|
|
|
1,764 |
|
Total current liabilities |
|
35,112 |
|
|
|
5,080 |
|
|
|
|
|
||||
Non-current liabilities |
|
|
|
||||
Convertible promissory notes, net |
|
— |
|
|
|
29,085 |
|
Other long-term liabilities |
|
88 |
|
|
|
128 |
|
Total non-current liabilities |
|
88 |
|
|
|
29,213 |
|
Total liabilities |
|
35,200 |
|
|
|
34,293 |
|
|
|
|
|
||||
Commitments and contingencies |
|
|
|
||||
|
|
|
|
||||
Stockholders' deficit |
|
|
|
||||
Preferred stock |
|
— |
|
|
|
— |
|
Common stock |
|
— |
|
|
|
— |
|
Treasury stock |
|
(31,663 |
) |
|
|
(31,663 |
) |
Additional paid-in capital |
|
94,861 |
|
|
|
93,403 |
|
Accumulated deficit |
|
(77,860 |
) |
|
|
(74,198 |
) |
Total stockholders' deficit |
|
(14,662 |
) |
|
|
(12,458 |
) |
Total liabilities and stockholders' deficit |
$ |
20,538 |
|
|
$ |
21,835 |
|
LEAFLY HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED (in thousands, except per share amounts) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Revenue |
$ |
8,722 |
|
|
$ |
10,675 |
|
|
$ |
17,770 |
|
|
$ |
21,924 |
|
Cost of revenue |
|
959 |
|
|
|
1,238 |
|
|
|
1,935 |
|
|
|
2,584 |
|
Gross profit |
|
7,763 |
|
|
|
9,437 |
|
|
|
15,835 |
|
|
|
19,340 |
|
Operating expenses |
|
|
|
|
|
|
|
||||||||
Sales and marketing |
|
2,374 |
|
|
|
2,852 |
|
|
|
4,994 |
|
|
|
7,763 |
|
Product development |
|
2,377 |
|
|
|
2,320 |
|
|
|
4,790 |
|
|
|
5,600 |
|
General and administrative |
|
3,658 |
|
|
|
5,016 |
|
|
|
8,445 |
|
|
|
11,676 |
|
Total operating expenses |
|
8,409 |
|
|
|
10,188 |
|
|
|
18,229 |
|
|
|
25,039 |
|
Loss from operations |
|
(646 |
) |
|
|
(751 |
) |
|
|
(2,394 |
) |
|
|
(5,699 |
) |
Interest expense, net |
|
(638 |
) |
|
|
(724 |
) |
|
|
(1,245 |
) |
|
|
(1,437 |
) |
Other income (expense), net |
|
9 |
|
|
|
39 |
|
|
|
(23 |
) |
|
|
303 |
|
Net loss |
$ |
(1,275 |
) |
|
$ |
(1,436 |
) |
|
$ |
(3,662 |
) |
|
$ |
(6,833 |
) |
|
|
|
|
|
|
|
|
||||||||
Net loss per share: |
|
|
|
|
|
|
|
||||||||
Basic |
$ |
(0.55 |
) |
|
$ |
(0.73 |
) |
|
$ |
(1.62 |
) |
|
$ |
(3.49 |
) |
Diluted |
$ |
(0.55 |
) |
|
$ |
(0.73 |
) |
|
$ |
(1.62 |
) |
|
$ |
(3.49 |
) |
|
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding: |
|
|
|
|
|
|
|
||||||||
Basic |
|
2,326,821 |
|
|
|
1,975,472 |
|
|
|
2,261,491 |
|
|
|
1,955,471 |
|
Diluted |
|
2,326,821 |
|
|
|
1,975,472 |
|
|
|
2,261,491 |
|
|
|
1,955,471 |
|
LEAFLY HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED (in thousands) |
|||||||
|
Six Months Ended June 30, |
||||||
|
2024 |
|
2023 |
||||
Cash flows from operating activities |
|
|
|
||||
Net loss |
$ |
(3,662 |
) |
|
$ |
(6,833 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
||||
Depreciation and amortization |
|
652 |
|
|
|
421 |
|
Stock-based compensation expense |
|
1,205 |
|
|
|
1,238 |
|
Bad debt expense |
|
425 |
|
|
|
1,410 |
|
Gain on disposition of assets |
|
(2 |
) |
|
|
(9 |
) |
Noncash amortization of debt discount |
|
288 |
|
|
|
273 |
|
Noncash change in fair value of derivatives |
|
(28 |
) |
|
|
(281 |
) |
Other |
|
(1 |
) |
|
|
1 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable |
|
7 |
|
|
|
(1,701 |
) |
Prepaid expenses and other current assets |
|
652 |
|
|
|
(1,334 |
) |
Accounts payable |
|
(147 |
) |
|
|
(663 |
) |
Accrued expenses and other current liabilities |
|
69 |
|
|
|
(2,399 |
) |
Deferred revenue |
|
88 |
|
|
|
59 |
|
Net cash used in operating activities |
|
(454 |
) |
|
|
(9,818 |
) |
|
|
|
|
||||
Cash flows from investing activities |
|
|
|
||||
Additions of property, equipment, and software |
|
(597 |
) |
|
|
(788 |
) |
Proceeds from sale of property and equipment |
|
2 |
|
|
|
11 |
|
Net cash used in investing activities |
|
(595 |
) |
|
|
(777 |
) |
|
|
|
|
||||
Cash flows from financing activities |
|
|
|
||||
Issuance of common stock under ESPP |
|
16 |
|
|
|
120 |
|
Tax payments related to shares retired for vested restricted stock units |
|
(55 |
) |
|
|
— |
|
Repayments of related party payables |
|
(90 |
) |
|
|
2 |
|
Repayments of short-term financing arrangements |
|
(546 |
) |
|
|
— |
|
Net cash (used in) provided by financing activities |
|
(675 |
) |
|
|
122 |
|
|
|
|
|
||||
Net decrease in cash, cash equivalents, and restricted cash |
|
(1,724 |
) |
|
|
(10,473 |
) |
Cash, cash equivalents, and restricted cash, beginning of period |
|
15,544 |
|
|
|
25,202 |
|
Cash, cash equivalents, and restricted cash, end of period |
$ |
13,820 |
|
|
$ |
14,729 |
|
LEAFLY HOLDINGS, INC.
NON-GAAP FINANCIAL MEASURES - UNAUDITED
(in thousands)
Earnings Before Interest, Taxes and Depreciation and Amortization (EBITDA) and Adjusted EBITDA
To provide investors with additional information regarding our financial results, we have disclosed EBITDA and Adjusted EBITDA, both of which are non-GAAP financial measures that we calculate as net loss before interest, taxes and depreciation and amortization expense in the case of EBITDA and further adjusted to exclude non-cash, unusual and/or infrequent costs in the case of Adjusted EBITDA. Below we have provided a reconciliation of net (loss) income (the most directly comparable GAAP financial measure) to EBITDA and from EBITDA to Adjusted EBITDA.
We present EBITDA and Adjusted EBITDA because these metrics are key measures used by our management to evaluate our operating performance, generate future operating plans, and make strategic decisions regarding the allocation of investment capacity. Accordingly, we believe that EBITDA and Adjusted EBITDA provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management.
EBITDA and Adjusted EBITDA have limitations as analytical tools, and you should not consider either in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are as follows:
- although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and both EBITDA and Adjusted EBITDA do not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
- EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; and
- EBITDA and Adjusted EBITDA do not reflect interest or tax payments that may represent a reduction in cash available to us.
Because of these limitations, you should consider EBITDA and Adjusted EBITDA alongside other financial performance measures, including net (loss) income and our other GAAP results.
A reconciliation of net (loss) income to non-GAAP EBITDA and Adjusted EBITDA is as follows:
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Net loss |
|
$ |
(1,275 |
) |
|
$ |
(1,436 |
) |
|
$ |
(3,662 |
) |
|
$ |
(6,833 |
) |
Interest expense, net |
|
|
638 |
|
|
|
724 |
|
|
|
1,245 |
|
|
|
1,437 |
|
Depreciation and amortization expense |
|
|
323 |
|
|
|
226 |
|
|
|
652 |
|
|
|
421 |
|
EBITDA |
|
|
(314 |
) |
|
|
(486 |
) |
|
|
(1,765 |
) |
|
|
(4,975 |
) |
Stock-based compensation |
|
|
607 |
|
|
|
580 |
|
|
|
1,205 |
|
|
|
1,238 |
|
Transaction related expenses - strategic alternatives |
|
|
204 |
|
|
|
— |
|
|
|
204 |
|
|
|
— |
|
Severance |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
754 |
|
Change in fair value of derivatives |
|
|
(14 |
) |
|
|
(14 |
) |
|
|
(28 |
) |
|
|
(281 |
) |
Adjusted EBITDA |
|
$ |
483 |
|
|
$ |
80 |
|
|
$ |
(384 |
) |
|
$ |
(3,264 |
) |
Source: Leafly Holdings, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808148831/en/
Media
pr@leafly.com
Investors
ir@leafly.com
Source: Leafly Holdings, Inc.
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