Cannabis Technology Company Records Nearly 60% Annualized Sales Growth in September
DENVER, CO / ACCESSWIRE / October 10, 2022 / Leafbuyer Technologies, Inc. ("Leafbuyer" or "the Company") (OTCQB:LBUY), a leading cannabis technology company, announced today that its monthly cash sales rose 59.5% in the month ending September 30, 2022. The increase reflects cash sales booked in the month versus the same month of the previous year.
Leafbuyer's development of new technologies, organic growth, increased POS integrations, and onboarding of larger muti-state operators account for the year-over-year success.
"We made some significant strides this year with our platform. We have more features and functionality that are attracting more and larger customers," said Kurt Rossner, CEO of Leafbuyer. "The advances that we have made not only increase our top line, but also actually decrease the variable cost for many of our services."
The Company has made significant progress in recent months by developing advanced customer branded applications, bolstering its texting platform, and launching new marketing channels designed to enhance Leafbuyer's value proposition and attract more customers.
"We continue to push growth and margin expansion," Rossner continued. "Future platform enhancements will help us execute our strategic initiatives and position Leafbuyer Technologies as a leading player in the cannabis-tech industry."
Learn more at http://tech.leafbuyer.com
About Leafbuyer Technologies, Inc.
Leafbuyer Technologies is one of the most comprehensive marketing technology providers in the cannabis industry. Hundreds of cannabis businesses use the Leafbuyer texting and loyalty platform and the Custom App solution to engage with current and potential customers. Leafbuyer.com is a robust online resource for cannabis consumers, and the company's partnerships with other websites have created a national network of cannabis deals and information that reaches millions of consumers every month.
Email: [email protected]
Phone: (720) 427-3927
This press release contains statements that constitute "forward-looking statements," including with respect to the Company's business strategy, product development and industry trends. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Use of Non-GAAP Financial Measures
The Company discloses and uses the above-mentioned non-GAAP financial measures internally as a supplement to GAAP financial information to evaluate its operating performance, for financial planning purposes, to establish operational goals, for compensation plans, to measure debt service capability, for capital expenditure planning and to determine working capital needs and believes that these are useful financial measures also used by investors. Non-GAAP adjusted EBITDA is defined as GAAP net income or net loss before interest, taxes, depreciation, and amortization (EBITDA) adjusted for the non-cash stock compensation and stock option expense, acquisition, integration & restructuring expenses, charges and gains or losses from extinguishment of debt and other non-cash items. Non-GAAP EBITDA and non-GAAP adjusted EBITDA are not terms defined by GAAP and, as a result, the Company's measure of non-GAAP EBITDA and non-GAAP adjusted EBITDA might not be comparable to similarly titled measures used by other companies. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flow that either excludes or includes amounts that are not normally included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP financial measures discussed above, however, should be considered in addition to, and not as a substitute for, or superior to net income or net loss as reported for GAAP on the Consolidated Statements of Operations, cash and cash flows on the Consolidated Statement of Cash Flows or other measures of financial performance prepared in accordance with GAAP, and as reflected on the Company's financial statements prepared in accordance with GAAP. These non-GAAP financial measures are not a substitute for or presented in lieu of financial measures provided by GAAP and all measures and disclosures of financial information pursuant to GAAP should be read to obtain a comprehensive and thorough understanding of the Company's financial results.
SOURCE: Leafbuyer Technologies, Inc.