Leafbuyer Technologies Inc (OTCMKTS:LBUY) reported a growth of 43% in revenues in Oklahoma. It is on the backdrop of the growing demand for medical marijuana in Q4 2020.
CEO of Leafbuyer, Kurt Rossner, said the company is excited about surging sales in Q4. The company will focus on sales and marketing efforts towards online ordering, texting, and loyalty platforms.
Advances technology solutions
The progress in Q4 2020 is a great achievement for the company that provides a stimulus for rest of this year. Leafbuyer will advance its technology solutions, focus on emerging opportunities, and diversify revenue streams.
The company realizes its lion share of the revenues from the sale of an online ordering platform, loyalty, and texting solutions to several cannabis customers.
Positive cash flow in Q1 2021
Leafbuyer expects to maintain positive cash flow in the next quarter considering growing monthly recurring revenues. After reporting 44% growth so far, Kurt said the company will post better revenues in the remainder of this year.
Kurt further said the company is putting in significant efforts to benefit from existing opportunities and boost revenues. Leafbuyer will focus on providing cutting edge technologies to the clients engaging in the cannabis industry.
Improved value for investors
Leafbuyer is experiencing a significant increase in the usage of loyalty platform and texting solutions because of ongoing coronavirus crises. The company posted record results in Q3 2020. It experienced 63% QoQ growth by delivering enterprise texting tool and allowing the clients to upgrade their systems. It also launched an online ordering solution and cannabis mobile application for dispensaries to facilitate delivery and pickup options. It also bagged long term contracts from powerhouse dispensary chains such as Lightshade and Terrapin.
LB Media Group for cannabis deals
Greenwood Village, Colorado-based LB Media Group LLC, a subsidiary of Leafbuyer, controls an online platform for specials and cannabis deals. It also provides details and ensures connectivity between dispensaries and consumers.
Dispensaries offering marijuana in Colorado
The marijuana dispensaries in this location are euflora; Rocky Road – Vail, Aurora; Terrapin Cares station, Long Mont; Karing Kind, and Livegreen Cannabis.
Competitors of Leafbuyer
The peers of Leafbuyer are Leafly, WeedMaps, and iBudtender.