Leafly Holdings, Inc. (LFLY) has released an update.
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Leafly Holdings, Inc. reported a revenue of $9.0 million in Q1 2024, down from $11.2 million the previous year, alongside a net loss of $2.4 million and an adjusted EBITDA loss of $0.9 million. Despite a decrease in revenue and cash, the company improved its gross margin to 89% and reduced total operating expenses by 34%, reflecting enhanced operational efficiency. Leafly is also exploring financing and strategic opportunities with the aid of financial advisors, indicating proactive steps toward future growth.
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