Leafly Holdings, Inc. (NASDAQ: LFLY), a leading online cannabis discovery marketplace, announced its financial results on Thursday for its first quarter ended March 31, 2023.
“Our first quarter results reflect a continued focus on our strategy and our commitment to building a path to profitability. Macro challenges have put overall pressure on the cannabis industry, particularly in our brand advertising business," said Yoko Miyashita, CEO of Leafly.
First Quarter Financial Results
- Revenue was $11.2 million, down 1.5% from Q1 2022.
- Gross margin was 88%, improved from 87% in Q1 2022.
- Total operating expense was $14.9 million, down 14.7% …