Leafly Holdings' 20% YoY Drop In Q3 Revenue And Customer Accounts

Online cannabis discovery marketplace Leafly Holdings (NASDAQ:LFLY) announced its financial results Thursday for the third quarter ended Sept. 30, 2024, with revenue of $8.4 million down from $10.6 million in the Q3 2023. Leafly attributes the year-over-year revenue decline to fewer retail accounts and reduced spending by customers due to budget constraints.

“With two consecutive quarters of positive adjusted EBITDA and a retail business that has largely reached a point of stabilization, we're poised to capitalize on the growth opportunities ahead," stated Leafly CEO Yoko Miyashita. "We'll continue our laser focus on building a lean and efficient business operation to capitalize on the stabilizing revenue trajectory of the retail business."

Read Also: TerrAscend Expands Footprint Despite Q3 Losses, Can A Move To Ohio ...

Full story available on Benzinga.com