Leafbuyer Technologies Reports Revenue Growth More Than Double Industry Average

Leafbuyer Technologies, Inc. LBUY reported 59% higher year-over-year revenue in the fiscal year ended June 30 on Wednesday. 

The increase represents more than double than the industry average, the company said, referring to an Arcview and BDS Analytics report that said the industry's average growth rate is 24%.

“We have spent the last fiscal year optimizing our platforms to outpace our competitors and offer unrivaled technology solutions for the cannabis industry,” CEO Kurt Rossner said in a statement. “Our sales team continues to execute Leafbuyer’s strategy and is continuing its momentum heading into fall.”

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Leafbuyer said itbroadened its national footprint over the last year, reaching states such as Oklahoma and California. This has helped the company attain a bigger audience and create customized sales initiatives, it said. 

In addition, Leafbuyersaid it has enriched its marketing platform by adding texting and loyalty products.

“Loyalty has been the fastest growing segment of our company, and we look forward to [continuing] that growth in 2020,” Rossner said. 

The stock was down 4.5% at 13 cents at the time of publication. 

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