Leafly Holdings, Inc.
LFLH Communication Services Internet Content & Information
Leafly Holdings, Inc.’s revenue for fiscal 2024 (year ended December 2024) was $34.6 million, down 18.0% from fiscal 2023. In the quarter to March 2025, revenue fell 12.9%, EPS grew 45.9% and free cash flow fell 104.3%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Leafly Holdings, Inc. (LFLH) Altman Z-score
Leafly Holdings, Inc.'s Altman Z-score for fiscal 2024 is 28.33, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | 28.33 | (52.70) |
| FY2023 | 81.03 | (90.57) |
| FY2022 | 171.60 | (1,500.86) |
| FY2021 | 1672.46 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.91) | — | −1.09 | |
| Retained earnings / total assets | (4.07) | — | −5.70 | |
| EBIT / total assets | (0.16) | — | −0.53 | |
| Market value of equity / total liabilities | 56.48 | — | 33.89 | |
| Sales / total assets | 1.76 | — | 1.76 | |
| Altman Z-score | Safe zone | 28.33 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −20.77 | ||
Z and Z″ put Leafly Holdings, Inc. in different zones: safe zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| LFLH Leafly Holdings, Inc. | 28.3× |
| NAMI NAMI Corp. compare | 1.6× |
| CHAI Core AI Holdings, Inc. compare | 0.9× |
| STBXF Starbox Group Holdings Ltd. compare | −2.3× |
| ONFO Onfolio Holdings Inc. compare | −2.7× |
| LCFY Locafy Limited compare | −9.0× |
| GROM Grom Social Enterprises, Inc. compare | −9.6× |
| GITS Global Interactive Technologies, Inc. compare | −14.2× |
| ROII RiskOn International, Inc. compare | −47.1× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets