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Leafbuyer Technologies Inc (LBUY). has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $1,717,127 from $1,434,132 in the same quarter the previous year. The increase is attributed to additional text services.
Cost of revenue for the quarter was $962,929, compared to $985,467 in the same quarter of the previous year. Gross profit increased to $754,198 from $448,665, with the increase due to changes in pricing agreements.
Total operating expenses for the quarter were $657,530, up from $645,744 in the previous year, primarily due to an increase in personnel costs.
Interest expense for the quarter was $21,853, compared to $22,931 in the previous year, due to a reduction in notes payable.
Net income for the quarter was $74,815, compared to a net loss of $220,010 in the previous year.
Cash provided by operating activities was $437,588, while cash used in financing activities was $152,439.
Leafbuyer had a working capital deficit of $1,451,445 as of December 31, 2024. The company acknowledges its dependence on funds raised through equity financing to meet future obligations.
The filing also details various financial agreements, including notes payable and convertible notes payable.
Leafbuyer does not have any off-balance sheet arrangements as of December 31, 2024.
The company continues to focus on expanding its marketing and sales presence in new markets and developing technologies for cannabis dispensaries and product companies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Leafbuyer Technologies Inc quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.