DENVER--(BUSINESS WIRE)--Leafbuyer Technologies, Inc. (LBUY) (“Leafbuyer”), a leading cannabis technology platform, announced that yearly sales rose 42% in the fiscal year ending June 30th, 2018. The increase reflects the cash sales booked in the year versus the previous year.
“We ended our fiscal year with very positive sales momentum and have been building on that momentum going into the fall,” said Kurt Rossner, Chairman and CEO.
The company reported that sales in new markets have been steadily increasing as marketing efforts have taken hold and sales staff have been put in place. “Our overall strategy of broadening our platform to become a true comprehensive marketing solution has allowed us to attract many new customers and upsell current ones. The average monthly spend for new customers has increased more than 50% in the last six months as we continue to offer a wider basket of solutions. We have also been investing heavily in development (online ordering, loyalty and block chain) and are starting to see the results in sales numbers.”
“We are very excited about what is happening right now in the industry. Canada will be legalizing this month; the US elections are a month away and we are rolling out great product enhancements across our network. Building and broadening the platform while scaling in new markets across the country is our ongoing focus,” said Mark Breen, COO and VP of Sales of Leafbuyer.
According to Arcview Market Research, the legal cannabis industry will see growth from $9.2 billion in 2017 to over $47.3 billion by 2027 in North America alone.
About Leafbuyer Technologies, Inc.:
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. The company’s online network reaches millions of marijuana consumers monthly. Leafbuyer is the official cannabis deals platform of LA Weekly, Voice Media Group and Dope Media.
Learn more at leafbuyer.com.
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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.
