Leafly HoldingsNASDAQ: LFLY

Leafly Holdings Inc (LFLY) Q4 2023 Earnings Call Transcript

SEATTLE--(BUSINESS WIRE)--Leafly Holdings, Inc. (“Leafly” or “the Company”) (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers, today announced that it will release its financial results for the fourth quarter and fiscal year ended December 31, 2023, after market close on March 28, 2024. On that day Leafly will host a webcast at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss the Company's financial results. Webcast Details What: Leafl.

Ancillary marijuana stocks are getting a lot of buzz this week. These companies support the cannabis industry without touching the plant directly. They offer services like tech solutions, growing equipment, and online platforms. This sector is booming as the cannabis industry grows in the U.S. Currently, the U.S. cannabis market is a multi-billion-dollar industry. It's expected to grow significantly in the next few years. This growth is fueled by increasing legalization and acceptance of cannabis. Companies giving the industry an online presence are especially noteworthy. They help dispensaries and growers reach customers digitally.

Marijuana stocks are still showing a slight increase in momentum. This is largely due to speculation about the future of cannabis. Right now investors are looking to take advantage of any rise or decline in the sector. With the level of volatile trading there most cannabis stocks trade with an unpredictable pattern. Often times this is where much of the buying and selling goes on. For example, when there is a decline it is time when people would look for the top marijuana stocks to buy.

The cannabis industry and top marijuana stocks are witnessing a remarkable growth spurt, with its global market value hitting an impressive $20 billion in 2023. This marks a substantial 30% increase from the previous year, underscoring the growing legalization and acceptance of cannabis products. Amidst this expansion, ancillary marijuana stocks are coming into the spotlight. These stocks represent companies that back the cannabis sector, offering online platforms and technological solutions, yet they steer clear of direct cultivation or distribution.

In the rapidly evolving landscape of the cannabis industry, December 2023 has been marked by a significant upsurge in the performance of top marijuana stocks. This surge is underpinned by staggering statistics that highlight the industry's robust growth both in the United States and globally. The legal cannabis market in the U.S. alone is projected to exceed $30 billion by the end of 2023, representing a year-over-year growth of approximately 30%, according to recent market analyses. Globally, the industry is following a similar trajectory, with forecasts suggesting a market valuation of over $90 billion by 2025. This exponential growth is driven by increasing legalization, the widening acceptance of cannabis for both medical and recreational use, and the innovative expansion of product offerings.

Cannabis stocks are gaining more and more reputation in the market. Many companies are developing amazing products for either medicinal or recreational use.

Ancillary companies that offer crucial internet services and solutions are a key component of the cannabis industry's success as it grows. These supplementary marijuana stocks are starting to have a more significant impact on how the cannabis sector is portrayed online. These businesses are positioned for major prospects in the near and long term, as the cannabis sector is expected to grow exponentially in the upcoming years.

Leafly Holdings Inc. (NASDAQ:LFLY ) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Josh deBerge - IR Yoko Miyashita - CEO Suresh Krishnaswamy - CFO Conference Call Participants Seamus Cassidy - TD Cowen Jason Helfstein - Oppenheimer Casey Ryan - WestPark Capital Daniel Kurnos - The Benchmark Company Operator Good afternoon. Thank you for attending the Leafly Third Quarter 2023 Earnings Call.