Leafly Holdings Inc
NASDAQ:LFLY
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Leafly Holdings Inc
NASDAQ:LFLY
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Leafly Holdings Inc
Leafly Holdings, Inc. operates as an online platform to buy and learn about cannabis products. The company is headquartered in New York City, New York. The company went IPO on 2019-11-05. I, provides a discovery marketplace which is called as Leafly. The firm's ecommerce tools help shoppers make informed purchase decisions and enable cannabis businesses to retain loyal customers through advertising and technology services. Its Website is focused on cannabis use and education. The firm's Website enables users to discover cannabis products and order them from legal, licensed retailers. Leafly mobile application is available on Apple’s App Store and Google Play.
Leafly Holdings, Inc. operates as an online platform to buy and learn about cannabis products. The company is headquartered in New York City, New York. The company went IPO on 2019-11-05. I, provides a discovery marketplace which is called as Leafly. The firm's ecommerce tools help shoppers make informed purchase decisions and enable cannabis businesses to retain loyal customers through advertising and technology services. Its Website is focused on cannabis use and education. The firm's Website enables users to discover cannabis products and order them from legal, licensed retailers. Leafly mobile application is available on Apple’s App Store and Google Play.
Revenue: Q2 revenue was $8.7 million, down 18.3% year-over-year and in line with guidance.
Profitability: Net loss was $1.3 million, but adjusted EBITDA was positive at $483,000, ahead of guidance due to successful collection efforts.
Retail Accounts: Retail accounts declined 6.4% sequentially to 3,595, with account losses concentrated in Florida, California, and Oklahoma.
ARPA Growth: Average revenue per account (ARPA) rose 23% year-over-year to $684 as lower-ARPA accounts left the platform.
Guidance: Q3 revenue is expected to be around $8.4 million with an adjusted EBITDA loss of less than $1 million.
Liquidity: Leafly ended Q2 with $13.6 million in cash and launched an ATM offering for added financial flexibility.
Nasdaq Listing: Leafly is working with Nasdaq to regain compliance and remains listed on the Nasdaq Capital Market.
