Leafbuyer Technologies, Inc. (LBUY) (“Leafbuyer”), a leading cannabis technology platform, announced that yearly sales rose 42% in the fiscal year ending June 30th, 2018. The increase reflects the cash sales booked in the year versus the previous year.
“We ended our fiscal year with very positive sales momentum and have been building on that momentum going into the fall,” said Kurt Rossner, Chairman and CEO.
The company reported that sales in new markets have been steadily increasing as marketing efforts have taken hold and sales staff have been put in place. “Our overall strategy of broadening our platform to become a true comprehensive marketing solution has allowed us to attract many new customers and upsell current ones. The average monthly spend for new customers has increased more than 50% in the last six months as we continue to offer a wider basket of solutions. We have also been investing heavily in development (online ordering, loyalty and block chain) and are starting to see the results in sales numbers.”
“We are very excited about what is happening right now in the industry. Canada will be legalizing this month; the US elections are a month away and we are rolling out great product enhancements across our network. Building and broadening the platform while scaling in new markets across the country is our ongoing focus,” said Mark Breen, COO and VP of Sales of Leafbuyer.
According to Arcview Market Research, the legal cannabis industry will see growth from $9.2 billion in 2017 to over $47.3 billion by 2027 in North America alone.
About Leafbuyer Technologies, Inc.:
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. The company’s online network reaches millions of marijuana consumers monthly. Leafbuyer is the official cannabis deals platform of LA Weekly, Voice Media Group and Dope Media.
Learn more at leafbuyer.com