Fri, Sep 20, 8:02 PM (92 days ago)
Leafbuyer Technologies, Inc. reported a net loss of $171,649 for Q3 2024, a slight increase from $170,458 in Q3 2023, despite a 16% revenue increase to $1.5 million. Operating expenses rose 8% to $702,483, driven by higher sales commissions. For the nine months ending March 31, 2024, revenue reached $4.1 million, up 9% year-over-year, but gross profit decreased by 20% to $1.37 million due to rising provider costs. The company’s accumulated deficit grew to $25.23 million, with a working capital deficit of $2.01 million. Cash and cash equivalents dropped to $155,942, raising concerns about its ability to continue as a going concern without additional financing. The firm relies on equity financing and has incurred $790,260 in losses for the nine-month period. Management is focused on expanding its technology platform and market presence in the cannabis sector, but uncertainties about future operations persist.