The following is a summary of the Leafly Holdings, Inc. (LFLY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Leafly's Q1 revenue came in at $9 million.

• The company reported a net loss of $2.4 million.

• Adjusted EBITDA and cash performance surpassed company expectations, suggesting progress towards achieving profitability.

• A decline was reported in the number of retail accounts, which resulted in a final tally of 3,840 for Q1.

• Leafly's Q1 Average Revenue Per Account (ARPA) increased 22% year-over-year to reach $677.

• Brand revenue painted a different picture, declining by 34% year-over-year to land at $1.2 million.

Business Progress:

• Customer acquisition and existing customer retention are pivotal areas for Leafly.

• To enhance market penetration, new market managers and acquisition managers were brought onboard.

• Leafly has made platform upgrades, such as adding a live chat for retailers, SEO optimization for retailer menus and bids, and promo code functionality.

• The company foresees potential benefits from possible reclassification of cannabis under the Controlled Substances Act, anticipating more research opportunities and tax savings for cannabis operators.

• Following a court ruling in the company's favor, Leafly plans to extend its full range of services to newly licensed operators in New York.

• The company sees potential for international expansion, especially in Germany with its recent legalization of cannabis.

• With the appointment of a new President and COO, Leafly plans to cater to global consumers by providing premium content.

More details: Leafly IR

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