Leafly Holdings, Inc. (NASDAQ:LFLY) Q4 2023 Earnings Call Transcript

Leafly Holdings, Inc. (NASDAQ:LFLY) Q4 2023 Earnings Call Transcript March 28, 2024

Leafly Holdings, Inc. beats earnings expectations. Reported EPS is $-0.22, expectations were $-1.41. Leafly Holdings, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good afternoon. Thank you for attending today's Leafly Fourth Quarter 2023 Earnings Call. My name is Tamia, and I will be your moderator for today's call. I would now like to pass the conference over to your host, Josh deBerge with Leafly. You may proceed.

Josh deBerge: Good afternoon, and welcome to Leafly's Full Year 2023 and Q4 2023 Earnings Call. Joining me on the call today are CEO, Yoko Miyashita, and CFO, Suresh Krishnaswamy. Today's prepared remarks have been recorded. A copy of our press release can be found on our website at investor.leafly.com. Today's call will contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the services offered by Leafly, the markets in which Leafly operates, business strategies, performance metrics, industry environment, potential growth opportunities and Leafly's projected future results and financial outlook, and can be identified by words such as expect, anticipate, intend, plan, believe, seek or will.

These statements reflect our views as of today only, should not be relied upon as representing our views at any subsequent date, and we do not undertake any duty to update these statements. Forward-looking statements by their nature address matters that are subject to risks and uncertainties that could cause actual results to differ materially from expectations, and we caution you not to place undue reliance on such statements. For a discussion of the material risks and other important factors that could affect our actual results, please refer to the risks discussed in today's press release, our 2022 annual report on Form 10-K filed with the SEC on March 29, 2023, and our other periodic filings with the SEC. During the call, we will also discuss non-GAAP financial measures, which are not prepared in accordance with generally accepted accounting principles.

A reconciliation of the GAAP and non-GAAP result is included in our earnings press release, which has been filed with the SEC and is also available on our website at investor.leafly.com. We've changed the format of our call, and rather than doing a live Q&A, we have some submitted questions that we will answer at the end of this call. With that, let me turn the call over to Yoko.

Yoko Miyashita: Good afternoon, everyone. 2023 was a turbulent year across the cannabis industry. In the midst of macroeconomic and industry-wide headwinds, Leafly's attention has been on improving our efficiency as a business, which we believe strengthens our path to profitability while continuing to deliver value for our partners. We've focused on building a more durable business and also work to grow our relationships with high-value partners, ensuring they get the most out of the Leafly platform by engaging with the tools we offer. We continue to enhance our consumer experience through improvements to some of our most important features like deals functionality, delivery offerings and search capabilities, and are making it easier for retailers to work with Leafly to reach the cannabis engaged consumers they are after.

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