Lift & Co. (TSXV:LIFT,OTCQB:LFCOF) announced results for the third quarter of 2020 ended December 31, 2019.
As quoted in the press release:
The Company is pleased to report strong financial results for the period. Total revenue increased by 41% to $4.6 million for the nine-month period, compared to the same period last year, and loss from operations decreased by 17% to $4.8 million. These improvements were driven by revenue growth across all segments and a focus on improved operational efficiency. During the quarter, the Company announced important partnerships in the development of its Cohesion platform:
- an exclusive strategic partnership with Nielsen, a leading global measurement and data analytics company, in developing Cohesion Segmentation – powered by Nielsen, a new cannabis consumer profiling and segmentation data product;
- a strategic partnership with Enlighten, which will provide Lift & Co. with access to over 1,000 US retailers as well as product data, and marks the beginning of the Company’s expansion into the United States; and
- the addition of Adobe Advertising Cloud demand-side-platform, which will enable Cohesion clients to seamlessly deliver compliant programmatic advertising to their target consumer segment and brings much-needed industry-standard advertising solutions to the cannabis industry.