Revenue Performance - Q2 2024 revenue was $8.7 million, down from $10.7 million in Q2 2023, representing a decrease of 18.7%[1] - Retail revenue decreased to $7.3 million from $8.8 million in Q2 2023, a decline of 17%[1] - Brand revenue fell to $1.4 million from $1.8 million in Q2 2023, a decrease of 22.2%[1] - Revenue for the three months ended June 30, 2024, was $8,722 million, a decrease of 18.3% compared to $10,675 million for the same period in 2023[16] Gross Margin and Profitability - Gross margin improved to 89%, up from 88% in Q2 2023[1] - Gross profit for the six months ended June 30, 2024, was $15,835 million, down 18.0% from $19,340 million in the same period of 2023[16] - Adjusted EBITDA was $0.5 million, an increase from $0.1 million in Q2 2023[1] - Adjusted EBITDA for the six months ended June 30, 2024, was $(384) million, compared to $(3,264) million for the same period in 2023[21] Operating Expenses - Total operating expenses were reduced by 17% to $8.4 million from $10.2 million in Q2 2023[1] - Total operating expenses for the three months ended June 30, 2024, were $8,409 million, a decrease of 17.5% from $10,188 million in the same period of 2023[16] Net Loss and Financial Health - Net loss narrowed to $1.3 million compared to a net loss of $1.4 million in Q2 2023[1] - Net loss for the six months ended June 30, 2024, was $3,662 million, an improvement from a net loss of $6,833 million in the same period of 2023[17] - The company reported a net loss per share of $(0.55) for the three months ended June 30, 2024, compared to $(0.73) for the same period in 2023[16] Cash Flow and Liquidity - Cash used in operating activities for the six months ended June 30, 2024, was $(454) million, significantly improved from $(9,818) million in the same period of 2023[17] - Cash, cash equivalents, and restricted cash at the end of the period were $13,820 million, down from $14,729 million at the end of the same period in 2023[17] Accounts and Guidance - Ending retail accounts decreased by 32% to 3,595 from 5,261 in Q2 2023[3] - Retailer ARPA increased by 23% to $684 from $558 in Q2 2023[3] - Guidance for Q3 2024 revenue is expected to be around $8.4 million with an adjusted EBITDA loss of less than $1.0 million[5] - Interest expense for the six months ended June 30, 2024, was $1,245 million, compared to $1,437 million for the same period in 2023[21] - The company experienced a decrease in accounts receivable of $7 million for the six months ended June 30, 2024, compared to a decrease of $(1,701) million in the same period of 2023[17]

Table of Contents ROC UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39119 Leafly Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) Indicate by check mark w ...

Financial Data and Key Metrics Changes - The company reported revenue of $9 million in Q1 2024, down 19.6% year-over-year and down 7.2% sequentially [20] - The net loss in Q1 was $2.4 million, an improvement from the $5.4 million net loss reported in Q1 2023 [10] - Adjusted EBITDA in Q1 was negative $0.9 million, improving from negative $3.3 million in Q1 2023 [10] - Gross margin improved to 89.2% in Q1 2024 compared to 88% in Q1 2023 [21] - The company ended the quarter with $14.1 million in cash, excluding restricted cash [39] Business Line Data and Key Metrics Changes - Retail revenue in Q1 was $7.9 million, while brand revenue was $1.2 million, with brand revenue down 34% year-over-year [20][9] - The average revenue per account (ARPA) for the first quarter was $677, up 22% year-over-year and up about 1% sequentially [9] - Ending retail accounts totaled 3,840, marking a 5.8% reduction quarter-over-quarter [32][50] Market Data and Key Metrics Changes - The company is focusing on enhancing retail penetration and customer acquisition in key markets [5][32] - The rescheduling of cannabis is expected to provide significant tax savings for operators, estimated between $1 billion to $2 billion, which can be reinvested into their businesses [43][55] Company Strategy and Development Direction - The company is committed to enhancing operational efficiency and building a path to profitability while nurturing customer relationships [31] - Efforts are being made to revamp the brand subscription offering to introduce brands to the Leafly platform and deepen relationships with them [37] - The company is focused on improving its product portfolio to cater to a wider range of retail customers [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the potential for growth following the rescheduling of cannabis, which could alleviate capital constraints in the industry [27][55] - The company anticipates revenue of around $8.6 million for Q2 2024 and an adjusted EBITDA loss of approximately negative $1.1 million [41] - Management is focused on mitigating account churn and winning new business to reverse the downward trend in retail accounts [58] Other Important Information - The company is in ongoing dialogue with its lender regarding convertible notes due in January 2025, which have become a current liability [39][56] - The company plans to submit a compliance plan to NASDAQ for a 180-day extension to regain compliance with listing requirements [24] Q&A Session Summary Question: How does the rescheduling of cannabis impact the business and the industry? - Management highlighted excitement around rescheduling, noting it could alleviate capital constraints faced by retailers and brands [27] Question: Can you provide an update on the convertible note? - Management discussed efforts to work with the lender to convert a portion of the debt to equity and explore opportunities to maximize shareholder value [44][45] Question: Can you talk about account churn and new customer acquisition? - Management indicated that account churn has stabilized, and new sales heads are focused on adding accounts to mitigate churn and attract new customers [29][46]

Leafly Holdings, Inc. Reports First Quarter 2024 Financial Results Delivered Q1 2024 revenue of $9.0 million Reported net loss of $2.4 million and adjusted EBITDA1 loss of $0.9 million Hires financial advisors, PGP and Benchmark, to explore financing and strategic opportunities SEATTLE--(BUSINESS WIRE)-- May 9, 2024 --Leafly Holdings, Inc. ("Leafly" or "the Company") (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers, today announced financial results for its ...

 Ancillary Cannabis Companies Enhancing Industry InfrastructureThe US cannabis industry and marijuana stocks are experiencing rapid growth, with a market value expected to reach $41 billion by 2025. Ancillary cannabis companies are playing a crucial role in this expansion. These firms provide essential services and products such as packaging, technology, and online marketplaces. This support allows core cannabis businesses to thrive without handling every aspect of the operation. Recent headlines highlight ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K _____________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number: 001-39119 _____________________________ (Exact nam ...

Leafly Holdings Inc (NASDAQ:LFLY) Q4 2023 Results Conference Call March 28, 2024 4:30 PM ET Company Participants Josh deBerge - IR Yoko Miyashita - President, CEO & Director Suresh Krishnaswamy - Chief Financial Officer Operator Good afternoon. Thank you for attending today's Leafly Fourth Quarter 2023 Earnings Call. My name is Tamia, and I will be your moderator for today's call. I would now like to pass the conference over to your host, Josh deBerge with Leafly. You may proceed. Josh deBerge Good afternoo ...

Table of Contents FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39119 Leafly Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 84-2266022 (State or other jurisdiction of incorporation or organization) 113 Cherry ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q3 was negative $200,000, ahead of guidance of negative $500,000, with minimal cash burn and ending the quarter with approximately $14.5 million in cash [15][26][52] - Revenue for Q3 was $10.6 million, down 10.2% year-over-year, with retail revenue at $9.3 million and brand revenue at $1.3 million [49] - Total gross margin improved to 89% compared to 87.1% a year earlier, primarily due to headcount reductions [25] Business Line Data and Key Metrics Changes - Ending retail accounts in Q3 were 4,466, a decline from 5,637 at the end of Q3 2022, with a significant portion coming from lower-paying retailers [6][50] - Average Revenue Per Account (ARPA) rose 15.5% quarter-over-quarter and 16% year-over-year to $644 [24][49] - Brand revenue has not seen a pickup and remains conservative in estimates for future performance [51] Market Data and Key Metrics Changes - The cannabis market is projected to reach $33 billion in legal sales in the U.S. this year, with expectations to grow to $50 billion by 2028 [5] - Significant regional impacts were noted in California and Oklahoma, affecting metrics such as ending retail accounts and revenue [16][17] - The market is evolving with new adult-use regulations in states like New York and Maryland, contributing to a 33% increase in order volume and a 21% increase in revenue [46][20] Company Strategy and Development Direction - The company is focused on strengthening relationships with high-value clients and reducing retailer friction to drive operational efficiency [15][22] - A new open API for order integration was launched to enhance accessibility for retailers and improve operational performance [7] - The company aims to build a healthier customer base by tightening credit and collections processes and incentivizing retailers to shift to annual contracts [44][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in the cannabis industry, including inflation and increased operational costs for retailers [42] - The company is committed to managing expenses carefully while focusing on profitability and maintaining a strong cash position [27][41] - Management expressed optimism about the long-term growth opportunities despite current market pressures [47] Other Important Information - The company has implemented cart-based deals to enhance the shopping experience and improve ad functionality for retailers [45] - Regulatory changes at the federal level are expected to alleviate some operational challenges for retailers [9] Q&A Session Summary Question: Insights on price increase conversations with retailers - Management indicated that price increases were targeted and anticipated some churn, but overall received positive feedback from the market [28][29] Question: Trends on new offerings like the API for order integration - Management noted that reducing friction for retailers is crucial for operational efficiency and adoption of the platform [30] Question: Conversations with larger companies regarding potential mergers or sales - Management highlighted significant reductions in operating expenses and a focus on maintaining profitability [32][34] Question: Bad debt expense outlook - Management acknowledged an increase in bad debt expense but emphasized proactive management to mitigate this issue [70][89] Question: Account activity in newer states - Management reported positive account activation and increased spending in states like Maryland, indicating growth potential [66][68]

Table of Contents ROC UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39119 Leafly Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 84-2266022 ( Sta ...