Marijuana tech firm Leafly lays off 40 workers as annual revenue rises 10%

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2 years ago

March 17, 2023

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Marijuana e-commerce platform Leafly Holdings this week laid off another 40 employees, or 21% of its workforce, a day before reporting its full-year and fourth-quarter financial results.

The job cuts came as Leafly reported $47.4 million in revenue for 2022, a 10% increase from 2021, according to a Thursday news release about the Seattle-based company’s earnings.

Operating costs, however, climbed more than 40% last year, although Leafly did manage to turn a profit of more than $5 million in 2022.

“We’ve been intently focused on managing our expenses and cash flow,” Leafly CEO Officer Yoko Miyashita said in a statement.

“With softer ad spend expected to continue in 2023, we are driving deeper relationships with our customers and optimizing teams for efficiency.”

The Wednesday workforce reduction comes after Leafly laid off 56 employees last October.

There have been widespread layoffs across the North American cannabis industry

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Rejected applicants sue Minnesota over marijuana social equity licensing process

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1 day ago

November 22, 2024

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Two women are suing Minnesota’s cannabis regulator after being denied an opportunity to participate in the upcoming lottery for adult-use marijuana social equity business licenses.

Cristina Aranguiz and Jodi Connolly allege in a lawsuit they filed Thursday allege that Minnesota’s Office of Cannabis Management (OCM) made an “arbitrary and capricious decision” in denying their applications to participate in the lottery and offered no explanation, the Minnesota Reformer reported.

Earlier this week, the OCM announced that roughly two-thirds of the 1,817 social equity license applicants had been disqualified because they failed to complete the application process, turned in multiple applications or disguised the true investors in their companies.

The plaintiffs’ complaint – which also names the OCM’s interim director, Charlene Briner – alleges

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California’s capital city OKs marijuana consumption lounge licenses

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4 days ago

November 20, 2024

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The Sacramento City Council approved a measure that paves a path for California’s capital to issue consumption lounge licenses sometime in 2025.

The ordinance was approved 5-4 on Tuesday, despite opposition from certain Council members, the American Heart Association and American Cancer Society, according to The Sacramento Bee.

The organizations highlighted the effects of secondhand smoke on employees, customers and neighbors.

Similar concerns about smoke ventilation has led to lengthy delays in other markets, including Nevada, where regulators ultimately eased ventilation standards so operators could comply with the new rules without installing costly system overhauls.

Sacramento officials expect to issue permits in the first half of next year after the Council considers cannabis land-use and zoning amendments, the Bee reported.

When those

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Missouri’s double-tax practice on marijuana is unconstitutional, court rules

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6 days ago

November 18, 2024

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Local governments in Missouri can add a 3% local tax on marijuana products to state sales tariffs, but the law forbids cities and counties to “stack” local levies on top of one another.

That’s the “unambiguous” language in the state constitution, according to a Missouri Court of Appeals decision that’s set to cut retail taxes on marijuana products in St. Louis County.

Ninety of the state’s 114 counties imposed a 3% local cannabis tax on top of the state’s 14.98% sales tax, the Missouri Independent reported.

But 74 of those counties also include a city or town that’s imposed its own 3% on top of the county lax.

That’s the practice that the appeals court says is unconstitutional.

The challenge was centered

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