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.
SpringBig Holdings, Inc. (SBIG) regularly publishes news that highlights its role as a provider of AI-powered MarTech, customer loyalty, and marketing automation solutions for regulated and high-risk industries. Company press releases focus on product launches, sector expansions, integrations, executive appointments, and financial results, giving readers insight into how Springbig is evolving its software platform and business strategy.
News updates frequently cover new features on the Springbig platform, such as interactive messaging capabilities and authentication tools for gated links, which are described as ways to improve campaign engagement and simplify secure access to offers. The company also issues announcements about entering or expanding within regulated sectors, including cannabis retail and gaming, and about technology partnerships that support these efforts.
Another major theme in Springbig’s news is its financial performance and operational progress. Earnings releases discuss revenue composition, subscription and platform fees, gross profit, operating expenses, net income or loss, and non-GAAP measures such as Adjusted EBITDA. These updates often describe trends in cost control, recurring revenue, and cash flows, as presented by the company.
Readers of the SBIG news page can expect coverage of strategic integrations with point-of-sale and retail operations platforms, examples of client outcomes in regulated markets, and changes in leadership or governance. For investors and industry observers, this news flow provides context on how Springbig positions its AI software platform, manages its financial profile, and responds to conditions in the regulated industries it serves.
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.
Springbig supports the DEA's decision to reclassify marijuana, highlighting new business opportunities and improved consumer access. This move signifies a positive shift in the cannabis industry, reducing regulatory barriers and promoting growth. CEO Jeff Harris emphasizes the transformative impact on businesses and consumers, with Springbig well-positioned to assist companies in navigating the changing landscape.
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