Leafbuyer Technologies Inc. (OTC:LBUY) Stock Falls after Quarterly Earnings

There are a number of companies which are expected to be in sharp focus this morning and one of those could be Leafbuyer Technologies Inc (OTC:LBUY). On Monday, the company had come into sharp focus after it announced its quarterly financial results and delivered a strong performance. In this feature, we will take a closer look.

Record Performance

The cannabis technology and marketing platform operator announced its quarterly results for the quarter that ended on September 30, 2024, and delivered record results. The revenues for the quarter were $1,609,473 in the 2024 fiscal year and worked out to a rise of 38% from the previous fiscal year. In fact, the growth in revenues was 11 times the growth rate across the industry. More importantly, Leafbuyer Technologies announced that its gross profit margins went up 53% year on year. Gross profit went up to $749,281, which reflected a 110% growth on a year-on-year basis.

Further Information

It was further noted in the news release that Leafbuyer Technologies continued to gain in market share across a range of segments. It was also stated that the cost control measures that had been put in place last year had also helped in boosting the margins considerably.

Key Quote

Kurt Rossner, Chief Executive Officer of Leafbuyer, stated, “The company continues to gain market share across all segments. The cost reduction measures we implemented last year have significantly increased our margins. Selling expenses decreased by 10%, while revenue increased by 38%. These cost-reduction measures should continue to drive margin expansions in the near future. We are pleased with where the company is positioned and the market reaction to our product offerings.”

Traders Notes

+/- EMA(20)0.0181 (+16.02%)
+/- SMA(50)0.0168 (+25.00%)
+/- SMA(200)0.0144 (+45.83%)
5-Day Perf.+13.51%
1-Month Perf.+25%
3-Month Perf.+5%
6-Month Perf.+2000%
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ATR(14)0.01
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