The following is a summary of the Leafly Holdings, Inc. (LFLY) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 revenue was reported at $8.7 million, aligning with guidance and down 18.3% year-over-year.

• Adjusted EBITDA was positive at $483,000, significantly ahead of guidance.

• Gross margin improved to 89%, compared to 88% in the same quarter last year.

• Net loss for the quarter was $1.3 million, a slight improvement from the previous year.

Business Progress:

• Focused on enhancing operational efficiencies and maintaining a path towards profitability.

• Introduced tiered brand subscription offerings to drive greater monetization of platform services.

• Expanded partnership with Uber Eats into Alberta, Canada, for cannabis delivery and launched online ordering features in Ohio following new regulations.

Opportunities:

• The brand is leveraging the changing landscape of cannabis regulations, such as the early start of Ohio's recreational program and expansion in Washington, D.C.

• Potential growth through the hemp-derived cannabinoids market and ongoing engagement with hemp brands.

Risks:

• Payment delinquencies and ongoing financial pressure from the industry's capital constraints remain significant challenges.

• Anticipates continued pressure until macroeconomic conditions improve.

More details: Leafly IR

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