Fellow shareholders,

Last week, we officially filed our annual 10-K report. Our revenue rose 59% in the fiscal year ending June 30, 2019, compared to the previous period. These results are a reflection of our continued focus and ability to execute our strategic initiatives over the last year.

I am very pleased with these results, however, our focus is now set on the upcoming months.  Our key initiatives will be specializing our sales team, increasing demand for our loyalty platform, market expansion, and ultimately accomplishing our goal of profitability by the first half of 2020. 
As always, my objective is to keep you informed of our progress. On behalf of the Leafbuyer team, thank you for your support. 

Kurt Rossner, Chairman and CEO

Recent efforts to specialize the Leafbuyer sales team have led to outstanding results. The June 2019 opening of the Los Angeles satellite office enables effective geographic targeting. Led by Director of Sales Scott Tretsky, the new office is driving growth along the West Coast, while the Denver sales team focuses on expanding the company’s footprint into the Midwest and East Coast regions.   

Product specialization has also led to sales gains. To capitalize on its relationships with clients, Leafbuyer has expanded its suite of products over time. To increase efficacy and accelerate training, the sales leadership team has been training representatives for specific verticals, such as CBD businesses and retail dispensaries seeking loyalty solutions.
Leafbuyer Loyalty

The Leafbuyer Loyalty platform has recently become the fastest growing segment of the company. This rapid growth has been attributed to an extensive suite of features, targeted marketing campaigns, and a specialized loyalty sales force. The platform saw an 84% percent increase in bookable revenue based on client usage during the 6-month period beginning March 2019 through August 2019. 

Leafbuyer leadership plans to capitalize on the demand by hiring more loyalty-specific sales representatives. Given this demand and high rate of retention with loyalty customers, revenue in loyalty alone could reach $200,000 per month in 2020. 
Increasing shareholder value continues to be the Leafbuyer team’s top priority. With a sharp focus on profitability, the company is expanding its client base in new markets and selling more of its marketing technology solutions to existing clients.

Leafbuyer’s annual revenue growth rate of 59% far exceeds the cannabis industry average of 24%, a statistic reported by Arcview Market Research and BDS Analytics released in June 2019. Through sales specialization and process optimization, the company plans to continue this growth throughout the current fiscal year. 
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