Leafly: Leafly Holdings' 20% YoY Drop In Q3 Revenue And Customer Accounts

Online cannabis discovery marketplace Leafly Holdings LFLY announced its financial results Thursday for the third quarter ended Sept. 30, 2024, with revenue of $8.4 million down from $10.6 million in the Q3 2023 . Leafly attributes the year-over-year revenue decline to fewer retail accounts and reduced spending by customers due to budget constraints. "With two consecutive quarters of positive adjusted EBITDA and a retail business that has largely reached a point of stabilization, we're poised to capitalize on the growth opportunities ahead," stated Leafly CEO Yoko Miyashita . "We'll continue our laser focus on building a lean and efficient business operation to capitalize on the stabilizing revenue trajectory of the retail business." Third Quarter Financial Highlights Price Action