Welcome to our dedicated page for SpringBig Holdings news (Ticker: SBIG), a resource for investors and traders seeking the latest updates and insights on SpringBig Holdings stock.
Overview
SpringBig Holdings, Inc. (SBIG) is a sophisticated software platform that delivers advanced loyalty marketing and automation solutions. Focused on highly regulated sectors such as cannabis, gaming, liquor, and health & beauty, the company harnesses the power of SMS marketing, mobile push notifications, and interactive messaging tools to drive customer engagement and retention. With a commitment to compliance and technology innovation, SpringBig equips retailers and brands with the tools needed to enhance communication channels, boost revenue, and cultivate long-lasting customer relationships.
Core Business and Value Proposition
At its core, SpringBig provides an integrated set of solutions designed to simplify and streamline customer engagement for businesses operating under strict regulatory frameworks. The platform enables companies to deploy targeted marketing campaigns, loyalty programs, and personalized communications via common channels such as text messaging and email. This multifaceted approach ensures that businesses can connect with their customers in a reliable, secure, and engaging manner.
Technology Integration and Innovation
One of the distinguishing features of SpringBig is its ability to seamlessly integrate with a variety of point-of-sale (POS) systems. The company has successfully extended its integrations with prominent platforms like Lightspeed and Greenline, ensuring a two-way exchange of data that enhances the customer journey. Their innovative MP5 messaging feature exemplifies this advanced technological prowess, allowing for personalized, interactive, full-screen video content delivered directly to consumers' mobile devices. These integrations not only streamline operations but also provide invaluable data analytics and reporting capabilities, which are critical for data-driven decision making in competitive markets.
Market Position and Competitive Landscape
SpringBig occupies a unique niche in a crowded market by focusing on industries that are under rigorous regulatory oversight. Its expertise in navigating complex compliance issues sets it apart from competitors offering more generic marketing solutions. The company’s platform is engineered to meet the high standards of regulated sectors, ensuring robust security, message deliverability, and performance reliability. By maintaining this stringent focus, SpringBig has carved out a significant competitive advantage, making it a preferred partner for retailers who require both precision and adaptability in their marketing communications.
Industry Expertise and Compliance
SpringBig’s operations are deeply embedded in the nuances of regulated industries. This expertise is reflected in their tailored solutions that adhere to the specific regulatory requirements of sectors such as cannabis, gaming, and beyond. The company’s approach to customer engagement is underscored by an adherence to industry best practices and regulatory frameworks, ensuring that all marketing campaigns are both compliant and effective. This strategic positioning reassures clients that their marketing communications are executed with the highest levels of professionalism and legal integrity.
Customer Engagement and Marketing Automation
Customer engagement is at the heart of SpringBig's offering. The platform's suite of tools, including SMS marketing, loyalty rewards programs, and interactive video messaging, work together to create an ecosystem that drives repeat business and enhances customer loyalty. The ability to craft personalized, one-to-one communications helps businesses not only capture immediate attention but also build a sustained, long-term brand presence. SpringBig’s solutions are designed to convert occasional buyers into loyal ambassadors through consistent, engaging, and measurable interactions.
Strategic Partnerships
SpringBig’s robust network of strategic partnerships reinforces its market position and technological capabilities. Collaborations with key technology providers like AWS and integration with leading POS systems such as Lightspeed and Greenline exemplify the company's commitment to providing comprehensive support across multiple platforms. These partnerships enhance the overall functionality of SpringBig’s platform, allowing for smooth onboard integration, improved message deliverability, and advanced analytics that empower retailers to make informed decisions.
Operational Excellence
Efficiency and reliability are cornerstones of SpringBig’s platform. With a high focus on compliance, the company delivers solutions that are not only technologically advanced but also operationally sound. The integration of sophisticated analytics and reporting tools enables clients to monitor campaign performance in real-time and adjust strategies as needed. This operational excellence, combined with an unwavering focus on customer satisfaction, forms the bedrock of SpringBig’s approach to marketing automation.
Conclusion
SpringBig Holdings, Inc. stands as a prominent example of how innovative technology can transform marketing communications within regulated industries. By merging robust loyalty programs, automated marketing features, and seamless integration with leading POS systems, the company provides retailers and brands a powerful toolset to drive customer engagement and business growth. Its detailed focus on compliance, customer-centric innovations, and strategic industry partnerships further underscores its significant role within the contemporary marketing landscape.
SpringBig Holdings (OTCQX: SBIG) has announced the acquisition of VICE CRM, an AI-enabled performance marketing platform focused on ROI optimization in regulated industries. The company also appointed VICE CRM founder Jaret Christopher as the new Chief Executive Officer, effective April 1, 2025.
Christopher, who brings extensive SaaS business leadership experience, will succeed Jeffrey Harris, SpringBig's Founder and Chairman. Prior to this appointment, Christopher served as General Manager and VP of CRM Software at WM Technologies following the successful sale of his company, Sprout, in 2021. He will initially serve as President until assuming the CEO role when Harris steps down on March 31, 2025.
The VICE CRM acquisition, which remains subject to customary confirmatory review, is expected to be completed in the coming weeks. The integration aims to enhance SpringBig's performance marketing capabilities through AI technology.
Springbig (OTCQX: SBIG) reported Q3 2024 financial results showing mixed performance. Revenue declined 8% year-over-year to $6.4 million, with subscription revenue at $5.2 million representing 81% of total revenue. Despite revenue challenges, the company achieved positive Adjusted EBITDA of $0.4 million in Q3, marking the third consecutive quarter of positive results. Operating expenses were reduced by 44% year-over-year to $4.5 million. The company reported a net loss of $(0.6) million, an improvement from $(2.7) million loss in the prior year. For Q4 2024, Springbig expects revenue between $6.5-$6.8 million and Adjusted EBITDA of $0.8-$1.0 million.
Springbig announces its entry into the gaming industry with SMS marketing solutions, powered by a new partnership with Amazon Web Services (AWS). The company will serve skilled gaming apps, casinos, sports betting platforms, and related sectors. A case study with Game Story demonstrated significant improvements: 90% message delivery rate, 15% click-through rate, reduced cost per re-engagement from $100 to $15, and 250%+ Return on Ad Spend within 7 days. The platform attracted 3,265 paying customers in July alone. Springbig is now listed on the AWS Marketplace and has joined the AWS ISV Accelerator program.
Springbig, a leading cannabis industry loyalty and marketing solutions provider, has officially launched its innovative MP5 messaging feature. This tool enables retailers to create and deliver personalized, full-screen interactive videos via SMS and push notifications, revolutionizing customer communication.
A beta test conducted by Missouri Health and Wellness demonstrated the feature's effectiveness, showing significant improvements compared to traditional SMS campaigns:
- 216% increase in daily sales
- 11% increase in average ticket size
- 202% increase in store visits
The MP5 feature allows for fully personalized messages with customized video content, providing a more engaging experience for recipients. Sam Harris, Co-Founder/CPO at Springbig, emphasized the feature's ability to improve customer engagement across industries.
Springbig, a leader in cannabis loyalty marketing and communications technology, has successfully onboarded GrowHealthy, a Florida-based medical cannabis provider and part of the iAnthus portfolio. This partnership completes the global migration of iAnthus' dispensaries onto Springbig's platform, offering a unified approach to customer engagement.
The collaboration allows iAnthus to consolidate its Loyalty Program Marketing, SMS, and email communications into one seamless solution across all its retail brands nationwide. This centralization enables more efficient message delivery, enhanced customer engagement, cost efficiencies, and streamlined staff training.
GrowHealthy's loyalty program offers a 1:1 reward system, where each dollar spent earns one point. Rewards include branded merchandise, free products, cannabis accessories, and exclusive experiences. Opted-in customers receive additional perks like birthday bonuses, flash sales, and customized promotions.
Springbig Holdings, Inc. (OTCQX: SBIG), a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs, has announced the appointment of Marc Shiffman to its board of directors as the Lead Independent Director. Shiffman, a respected business leader, brings extensive experience from his roles as CFO, President, and CEO at SMS Assist until its sale in early 2023.
Simultaneously, Shawn Dym has resigned from the board of directors effective September 23, 2024. The board now comprises Sergey Sherman, Matt Sacks, Mark Silver, and Marc Shiffman, along with Jeffrey Harris as Chairman and CEO. The Audit Committee includes Sergey Sherman as Chair and Marc Shiffman.
Springbig Holdings (OTCQX: SBIG) reported its Q2 2024 financial results, showing positive trends despite challenging market conditions. Key highlights include:
- Revenue of $6.6 million, a 2% quarter-over-quarter increase
- Positive Adjusted EBITDA of $0.3 million, compared to a loss of $(1.1) million in Q2 2023
- Year-to-date Adjusted EBITDA of $0.5 million, a $3.0 million year-on-year improvement
- Operating expenses reduced by 35% year-on-year to $4.8 million
- Net loss narrowed to $(0.6) million from $(2.0) million in Q2 2023
The company's newer offerings, including 'subscriptions by Springbig' and 'gift cards by Springbig', are gaining traction. For Q3 2024, Springbig expects revenue between $6.5 - $6.8 million and positive Adjusted EBITDA of $0.5 - $0.8 million.
Springbig has announced a strategic partnership with Native Roots, Colorado's largest independently held vertically integrated cannabis company. This collaboration aims to enhance customer engagement and loyalty in the cannabis industry through advanced technological solutions.
Springbig's proprietary software will integrate with Native Roots' existing systems to improve communication and engagement. The platform will offer messaging capabilities, streamlined analytics, customizable loyalty programs, and efficient marketing automations.
Jeffery Harris, CEO of Springbig, highlights that the partnership will allow Native Roots to leverage Springbig's technology to enhance customer interactions, increase loyalty, and drive growth. Native Roots plans to update its entire loyalty program this autumn and expects improved customer retention and engagement rates.
Springbig, a leader in cannabis loyalty marketing, has announced a significant integration with Greenline, a trusted cannabis POS provider under BLAZE. This enhanced integration aims to streamline loyalty redemption, reduce fraud, and ensure secure transactions, thereby boosting customer adoption and revenue. The two-way integration simplifies the checkout process for cannabis customers, allowing them to earn and redeem rewards both at the POS and via mobile devices. CEOs Jeffrey Harris of Springbig and Chris Violas of BLAZE highlighted the advancements this integration brings to retailers. Additionally, an upcoming webinar on July 18th will provide more insights into this integration and its benefits for businesses.
Springbig (OTCQX: SBIG) announced its Q1 2024 financial results, showing a positive Adjusted EBITDA for the first time and a 34% reduction in operating expenses year-over-year.
Revenue for the quarter was $6.5 million, down from $7.2 million in the same period last year, with subscription revenue making up 83% of the total at $5.4 million. Gross profit was $4.7 million, representing a 72% gross profit margin. The net income stood at $0.4 million, which includes a $1.6 million gain from the repurchase of convertible debt.
Significant developments include the $8 million debt financing completed in January 2024 and the appointment of Mark Silver to the Board of Directors on May 10, 2024.
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