Weed Discovery Marketplace Leafly Q2 Revenue Drops 18% YoY, Customer Accounts Lower As Average Spend Grows
Portfolio Pulse from Nina Zdinjak
Leafly Holdings, Inc. (NASDAQ:LFLY) reported an 18% YoY drop in Q2 revenue to $8.7 million. Despite a decrease in retail accounts, average spending per account increased. The company also announced a partnership upgrade with Uber Eats (NYSE:UBER) for cannabis delivery in Alberta, Canada. Leafly's shares rose 4.85% to $2.16.
August 09, 2024 | 1:55 pm
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Leafly Holdings reported an 18% YoY drop in Q2 revenue to $8.7 million. Despite a decrease in retail accounts, average spending per account increased. The company also announced a partnership upgrade with Uber Eats for cannabis delivery in Alberta, Canada. Leafly's shares rose 4.85% to $2.16.
The revenue drop is a negative indicator, but the increase in average spending per account and the new partnership with Uber Eats are positive signs. The market reacted positively, with shares rising 4.85%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Uber Technologies' subsidiary, Uber Eats, has upgraded its partnership with Leafly Holdings to offer cannabis delivery in Alberta, Canada. This could potentially expand Uber's service offerings and customer base in the region.
The partnership with Leafly for cannabis delivery in Alberta could positively impact Uber by expanding its service offerings and customer base. However, the direct financial impact on Uber is less clear.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50