Leafbuyer Technologies, Inc (OTCQB:LBUY) annual revenue was $3.8 million, a 43% increase compared to $2.66 million in the previous year.
Kurt Rossner, CEO of Leafbuyer stated, "We are very pleased with the significant growth over the last twelve months. Our growth was nearly three times the industry average. We continue to drive innovation with our product development and continue to grow into the expanding market nationally."
Mark Breen, COO stated, "Over the last year, we have become a more efficient company. From an operations standpoint, we have restructured and consolidated departments. As a result, we have reduced expenses, created a faster workflow, and improved the overall customer experience.Earlier this year we became cash flow positive, reducing our dependency on outside investment. This opens all kinds of possibilities in the next fiscal year."
Year to Date Financial Highlights
-
Total operating expenses decreased from $3 million to $2.7 million, a 12% overall decline.
-
Interest expense on loans decreased from $478,388 to $205,815
Company Milestone YTD
-
Launch of white label custom branded application
-
Built out technology platform to include data segmentation
-
Double digit growth year over year
-
Expanded profit margins despite double digit inflation in wages and provider costs
Photo: Benzinga; Sources: courtesy of Kindel Media via Pexels
Related News
Leafbuyer Technologies Announces All Time Record Sales Month
Leafbuyer Technologies Q2 Revenue Spikes 53% YoY, Continues To Bolster National Sales Footprint
Leafbuyer Technologies Reports Revenue Growth More Than Double Than The Industry Average