Leafly Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:56 pm EST
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Leafly Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 10.58 million compared to USD 11.78 million a year ago. Net loss was USD 2.21 million compared to net income of USD 15.45 million a year ago. Basic loss per share from continuing operations was USD 1.1 compared to basic earnings per share from continuing operations of USD 8.69 a year ago. Diluted loss per share from continuing operations was USD 1.1 compared to diluted earnings per share from continuing operations of USD 5.64 a year ago.
For the nine months, sales was USD 32.51 million compared to USD 35.25 million a year ago. Net loss was USD 9.04 million compared to net income of USD 10.84 million a year ago. Basic loss per share from continuing operations was USD 4.58 compared to basic earnings per share from continuing operations of USD 6.15 a year ago. Diluted loss per share from continuing operations was USD 4.58 compared to diluted earnings per share from continuing operations of USD 5.45 a year ago.
Leafly Holdings, Inc. operates an online cannabis discovery marketplace and resource for cannabis consumers. The Company offers cannabis retailers and brands subscription-based marketplace listings that provide its cannabis audience with information, reviews, menus, and ordering and delivery options through legal retailers. It provides retailers with subscription-based offerings and advertising tools to attract its audience to their menus and ultimately, convert that audience into a community of shoppers. It also provides a suite of online tools, which allow retailers to engage and communicate with consumers they acquire on its platform, including a portfolio of software as a service (SaaS)-based tools that allow the retailers to update their menus on the Leafly platform, create deals and promotions for consumers, manage their Leafly order reservation operations, integrate with selected POS systems, and view dashboards and analytics to help them make sales and merchandising decisions.