Leafly Holdings, Inc. - LFLY STOCK NEWS

Leafly Holdings (NASDAQ: LFLY) reported a full-year 2022 revenue of $47.4 million, marking a 10% increase from 2021, and a net income of $5.1 million compared to a net loss of $12.0 million in 2021. However, adjusted EBITDA loss was $23.2 million, widening from $9.4 million the previous year. The company expanded its retail accounts by 10% to 5,806. Total operating expenses surged 43% to $69.5 million due to public company costs and new hires. Additionally, a 21% workforce reduction is anticipated to save roughly $8 million annually, as softer ad spending persists into 2023.

Leafly Holdings, Inc. (NASDAQ: LFLY) has announced the release of its financial results for the fourth quarter and fiscal year ended December 31, 2022, scheduled for March 16, 2023, after market close. A webcast will follow at 1:30 p.m. PT to discuss the results. The company, a leader in the cannabis discovery marketplace, aids millions in informed cannabis purchasing decisions through its platform and tools, supporting cannabis businesses with advertising and technology services. For more information, visit Leafly.com.

Leafly Holdings, Inc. (NASDAQ: LFLY) announced that its management will participate in upcoming investor conferences. On December 1, the company will hold meetings at the Benchmark Discovery One-on-One Investor Conference in New York, NY. Additionally, they will present at the Cowen 5th Annual Cannabis Conference on December 8 at 12:30 pm ET, with a live webcast available on Leafly's Investor Relations website. Leafly is a leading online cannabis discovery marketplace, enabling informed consumer decisions and supporting cannabis businesses with advertising and technology services.

Leafly Holdings, Inc. (NASDAQ: LFLY) reported its Q3 2022 financial results with total revenue of $11.8 million, marking an 8.1% increase from Q3 2021. The gross margin stood at 87.1%, down from 88.4% year-over-year. Despite an Adjusted EBITDA loss of $5.2 million, the company achieved a net income of $15.5 million, driven by $22.3 million in gains on derivative liabilities. Ending retail accounts increased by 18.2% year-over-year, reaching 5,637. The company expects 2022 revenue between $47 million and $48 million.

The 2nd Annual Leafly Cannabis Harvest Report reveals that legal cannabis is valued at $5 billion, surpassing traditional crops like potatoes and rice. Conducted in partnership with Whitney Economics, the report analyzed cannabis production across 15 legal states, finding that adult-use cannabis farmers produced approximately 2,834 metric tons in 2022, supporting over 13,297 farms. However, cannabis farmers face significant barriers, such as a lack of banking access and federal prohibition, which hampers their economic potential.

Leafly Holdings, Inc. (LFLY) has appointed Carlos Pinto as Chief Commercial Officer, effective immediately. Pinto, with over 20 years of experience in digital media and business development, will oversee sales, marketing, and content strategies aimed at increasing revenue generation. His previous role was at Adnet Global, and he has also worked at Getty Images. This leadership change follows Leafly's recent NASDAQ listing, signaling a strategic move to solidify its market presence and enhance product offerings in the cannabis sector.