Company's 28% Sales Growth is Double Industry Average
Company Positioned for Significant Growth in 2020
DENVER, CO / ACCESSWIRE / April 15, 2020 / Leafbuyer Technologies, Inc. ("Leafbuyer" or "the Company") (OTCQB:LBUY), a leading cannabis technology platform, announced today that quarterly cash sales grew 28% year-over-year in the quarter ending March 31, 2020. The increase reflects the cash sales booked in the quarter versus the same quarter last year.
Leafbuyer's 28% year-over-year growth rate is double the industry's projected compound annual growth rate of 14%, according to New Frontier Data. Increased sales of the Company's loyalty, texting, and online ordering solutions account for the continued success.
"Providing our clients with the highest quality marketing technologies is essential to our success," said Kurt Rossner, CEO of Leafbuyer. "Over the past year we have seen the greatest growth in Leafbuyer Loyalty, our industry-leading texting and loyalty platform. We have onboarded hundreds of dispensary clients in new markets like Oklahoma and further solidified our hold on stable markets like Colorado."
Leafbuyer continues to advance its national footprint to include new and established legal cannabis markets. Due to the social distancing requirements of COVID-19, Leafbuyer has experienced increased demand for its order ahead and delivery solutions. Dispensaries, which are considered essential businesses in most states, are pursuing communication and ordering tools to operate successfully in these unstable times.
"In addition to this steady growth, we are extremely excited about our prospects for the coming opportunities in delivery and local pick up. I believe we are positioned to further establish Leafbuyer Technologies as a dominant player in the cannabis industry," continued Rossner.
Leafbuyer realizes revenue from the sales of its sophisticated marketing technology platforms, which drive cannabis consumers to dispensaries and product companies across the country. The solutions include loyalty programs, mobile application-based order ahead, 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 Leafbuyer.com
Leafbuyer Technologies, Inc.
Andre Leonard, +720-432-5593
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.