Leafly Holdings, Inc. ( (LFLY) ) has released its Q1 earnings. Here is a breakdown of the information Leafly Holdings, Inc. presented to its investors.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Leafly Holdings, Inc. is an online cannabis discovery marketplace providing a comprehensive platform for cannabis consumers, featuring detailed information about cannabis strains, retailers, and current events. The company operates primarily in the cannabis industry and is headquartered in Seattle, Washington.
In its latest earnings report for the quarter ended March 31, 2025, Leafly Holdings, Inc. reported a decline in revenue to $7.88 million from $9.05 million in the same period last year, alongside a net loss of $1.78 million, which is an improvement from the $2.39 million net loss recorded in the previous year.
Key financial highlights include a decrease in operating expenses to $8.32 million from $9.82 million, contributing to a reduced operating loss of $1.24 million compared to $1.75 million last year. The company also reported a decrease in cash and cash equivalents to $8.64 million from $14.53 million at the end of 2024, reflecting ongoing financial challenges.
Looking ahead, Leafly Holdings, Inc. faces significant financial hurdles, including the need to address its convertible promissory notes due in July 2025 and the challenge of raising sufficient capital to continue operations. The management is considering strategic options, including potentially taking the company private to reduce costs associated with being a public entity.