Leafly Q1 Revenue Dips Nearly 20% YoY, But Weed Discovery Marketplace Also Reduced Net Loss And Cut Costs
Cannabis discovery marketplace Leafly Holdings, Inc. (NASDAQ:LFLY) reported its financial results Thursday for its first quarter ended March 31, 2024, disclosing revenue of $9.0 million, compared to $11.2 million in the first quarter of 2023.
“We remain committed to boosting our operational efficiency as we focus on stabilizing revenue and prioritizing ongoing value for our partners,” stated Yoko Miyashita, CEO of Leafly. “We are excited by the recent historic announcement by the DEA of its plan to reschedule cannabis, which we hope will serve as a pathway for operators to redirect capital to invest in their own businesses. When the anticipated relief arrives, we expect cannabis businesses to increase their …