Leafly Holdings, Inc. Reports Fourth Quarter and Full Year 2021 Financial Results

Leafly Holdings, Inc. Reports Fourth Quarter and Full Year 2021 Financial Results
CANNANNEW REPORT

Q4 2021 delivered accelerated fourth quarter year over year revenue growth of 30% Delivered full year 2021 revenue of $43.0 million, up 18% over full year 2020 Total Ending Retail Accounts grew to 5,265, up 44% over 2020 SEATTLE–(BUSINESS WIRE)–Leafly Holdings, Inc. (“Leafly” or “the Company”) (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers, today announced financial results for its fourth quarter and year, ended December 31, 2021. “2021 was a record year for Leafly, and our success sets the foundation for long-term growth and expanded opportunity in this large and growing market. The investments we’ve made to date have delivered topline results, and have allowed us to increase penetration in targeted markets,” said Yoko Miyashita, CEO of Leafly. “Leafly is a marketplace that connects consumers with information, and licensed brands and retailers. With our recent influx of capital, we plan to expand the number of retailers and brands on Leafly, invest in market-leading tools that drive strong value for retailers and brands, and strengthen our consumer shopping experience with the best of our editorial and educational cannabis content.” Fourth Quarter 2021 Financial Results Total revenue was $12.1 million, up 30% over Q4 2020 Gross margin was 88%, up from 85% in Q4 2020 Total operating expense was $15.1 million, up 71% over $8.9 million in Q4 2020, primarily reflecting increased costs associated with additional headcount and ramping of advertising and marketing spend Net loss was $5.1 million, compared to net loss of $1.0 million in Q4 2020 Adjusted EBITDA loss was $4.1 million, compared to adjusted EBITDA loss of $0.7 million in Q4 2020 Full Year 2021 Financial Results Revenue was $43.0 million, up 18% over FY 2020 Gross margin was 88%, up from 86% in FY 2020 Total operating expense was $48.7 million,…

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Source : Leafly Holdings, Inc. Reports Fourth Quarter and Full Year 2021 Financial Results

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