Leafbuyer Technologies Inc (OTCMKTS:LBUY) closed Friday’s trading session at $1.38 and the company closed the first month of January with the announcement that it had impressive sales growth in Q4 2018.
The cannabis technology company announced the end of January was revealing that it managed to achieve record sales figures during the quarter ended December 31, 2018. The impressive sales revenue record also reflects the difference in the revenue that the company gained during the quarter compared to the revenue booked in Q4 2017.
Leafbuyr’s Chief Operating Officer Mark Breen stated that the announcement about the impressive record-setting revenue growth highlights the major industry moves that the company has been making. Such moves include the launch of Leafbuyer Loyalty and Leafbuyer Wallet as well as the launch of its Greenlight order-ahead application. The COO also revealed that the company’s cannabis dispensary, as well as product customers, recognize the value of the firm’s services as it works on diversifying its services so that it can serve the needs of its customers.
“Our national footprint continues to widen as we promote our services in all legal markets across the United States and Canada,” stated Leafbuyer CEO Kurt Rossner.
Rossner also added that the company’s revenue has been growing relative to the valuable savings and time benefits that it has been implementing to advance its marketing and sales resources.
More people will gain access to cannabis if the ongoing marijuana legalization efforts in states such as New Jersey and New York pull through. This will allow the industry to generate more revenue. Arcview Market Research projections expect the legal marijuana industry to grow from the $9.2 billion figure reported in 2017 to $47.3 billion by 2027. This growth is expected to take place in the North American market.
The cannabis industry has been experiencing rapid growth over the past few years especially as Canada and various states in the U.S.A have approved cannabis for both medical and recreational use. The legalization led caused the demand for cannabis to skyrocket and some companies have taken it a step further by infusing cannabis extracts into products including edible and non-edible products.