Projected to Become Operational Cash Flow Positive Within the Next Quarter
DENVER, CO / ACCESSWIRE / June 24, 2020 / Leafbuyer Technologies, Inc. ("Leafbuyer" or "the Company") (OTCQB:LBUY), a leading cannabis technology platform, announced today an update regarding the company's progress to becoming cash flow positive on an operational basis. Company management is forecasting it could achieve a cash flow positive position within the next quarter. This financial progression is attributed to increasing monthly recurring revenue and neutral expenditures.
"As our revenue continues to accelerate, we are on track to become operational cash flow positive in the next quarter," stated Kurt Rossner, CEO of Leafbuyer.
Leafbuyer Technologies recently experienced 44% revenue growth and the Company's management is forecasting accelerated revenues for the remainder of 2020.
"I am pleased that we are very close to achieving this milestone. Since Fall 2019, we have been positioning Leafbuyer to become cash positive and steadily building momentum. I am excited about the opportunities this creates to scale revenue and generate cash flow. We will continue our focus on providing our clients with the highest-quality technologies in the cannabis industry." stated Rossner. "
Leafbuyer realizes revenue from the sales of its texting and loyalty application, online ordering platform, and access to millions of cannabis consumers through the Leafbuyer.com website and its network partners.
Gaining Momentum: Leafbuyer Building Value for Shareholders
- The Company experienced a record quarter in the quarter ending March 31, 2020.
- The Leafbuyer enterprise texting tool is on pace for 63% quarter to quarter growth as a result of new sales and client upgrades.
- The development team rolled out a comprehensive cannabis mobile application as well as a web application ordering solution that allows dispensaries to offer pickup and delivery options from their own websites.
- The Leafbuyer sales team secured long-term contracts with powerhouse dispensary chains like Terrapin and Lightshade.
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.
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.