Leafbuyer Technologies Inc. (OTCMKTS:LBUY) has announced a digital ordering and delivery solution that will enable dispensaries to provide delivery and pickup solutions. This came after the company reported strong growth in the first quarter with a 44% YoY revenue growth for the nine months that ended March 31, 2020.
Leafbuyer launches web application solution
Kurt Rossner, the CEO of the company, indicated that the launch of a web application platform is in line with the social distancing restrictions that have affected its dispensaries. As a result, the company is moving to offer online ordering and delivery solutions to customers. The CEO said that they were delighted to integrate the digital application solution to the company’s enterprise texting tool. Rossner added that the company is dedicated to offering its customers the best amid the coronavirus pandemic.
Retailers and dispensaries are now keen to control the customer experience with the cannabis sector coming to maturity. Different sophisticated brands have been enhancing traffic to dispensaries’ websites where customer information can be captured and get orders. Rossner indicated that the company wants to leverage the trend by providing a plug-and-play digital ordering solution.
After a dispensary has installed the embed code on its site, the ordering widget will appear. For those using point of sale platforms, the company will offer real-time menu vial live integration. Customers can order for delivery or pickup from their devices.
Leafbuyer witnessed demand surge in online orders and delivery
The company had a strong Q1 in which is reported growth in revenue and reduction of operational expenses. The company is anticipating reduced cash burn for the rest of the year; the strong quarter revenue was driven by a stay at home and social distancing orders. Leafbuyer experienced an increase in demand for delivery and ordering ahead during the quarter.
The CEO indicated that the company is now in a strong position considering it increased its YoY revenue and minimized operational expenses. Rossner added that the company is on track to meet its cash flow target this summer.