Leafbuyer Technologies Inc (OTC: LBUY) is a cannabis-focused digital advertising and technology company that connects cannabis consumers with dispensaries and cannabis product companies through a web-based platform, loyalty program, and SMS/MMS messaging technology. Revenue is generated by charging cannabis dispensaries and product vendors for listings, advertising placements, and access to the platform's consumer-facing tools. The company was formed in April 2013 and operates as a smaller reporting company. In March 2023, Leafbuyer launched its "Total Network Solution," which posts dispensary SMS and MMS text messages in real-time to Leafbuyer.com. The platform includes a vendor dashboard for menu updates, deal promotions, real-time consumer messaging, and return-on-investment reporting. Leadership as of the 10-K filed September 29, 2025 consists of Kurt Rossner (CEO), Mark Breen (CFO), and Michael Goerner (CTO), who are identified in the filing as the executive officers upon whom the business is entirely dependent.

Revenue model

Leafbuyer generates revenue by selling advertising and platform access to cannabis dispensaries and product companies, including vendor dashboard tools, loyalty program technology, and SMS/MMS messaging distribution. The filing references deferred revenue on the balance sheet as of June 30, 2025, consistent with subscription or prepaid service arrangements, though specific revenue figures are not legible in the provided excerpts.

Products and services

Leafbuyer operates a web-based cannabis deal and dispensary discovery platform at Leafbuyer.com, a consumer loyalty platform (acquired via the purchase of Greenlight Technologies Inc. in November 2018), a smart application, and the Total Network Solution launched in March 2023 that distributes dispensary SMS and MMS messages in real-time to the Leafbuyer.com platform.

Customers and end markets

Primary customers are cannabis dispensaries and cannabis product companies operating in legal cannabis states. The platform targets cannabis consumers as end users. The company states it serves all legal cannabis states and expands its sales presence as new legal markets open.

Value-chain role

Leafbuyer sits between cannabis retailers and consumers as a digital marketplace and advertising intermediary, providing dispensaries with consumer acquisition, menu publishing, deal promotion, loyalty retention tools, and performance reporting.

Geographic exposure

United States legal cannabis states. The filing does not specify individual state breakdowns or disclose international operations.

Source: SEC 10-K, filed 2025-09-29

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