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SpringBig Holdings, Inc. (OTCQX: SBIG) is a prominent software platform that offers customer loyalty and marketing automation solutions to retailers and brands in the U.S. and Canada. Their cutting-edge platform aims to connect consumers with retailers primarily through SMS marketing, as well as via emails, a customer feedback system, and loyalty programs, all designed to enhance customer engagement and retention.
Springbig's latest features include an innovative Campaign Follow-Ups tool that allows merchants to schedule, create, and send follow-up messages based on user interaction with initial campaigns. This feature simplifies engagement and drives performance by targeting messages based on user behavior. Additionally, Springbig has launched Gift Cards by Springbig, a feature that offers both physical and digital gift cards, streamlining the payment process and catering to the growing consumer demand for convenience.
Beyond these new offerings, Springbig provides robust reporting and analytics tools that help clients understand customer behavior and trends, enabling smarter marketing decisions. Their recent integration with Lightspeed, a unified POS and payments platform, highlights their commitment to seamless, compliant marketing solutions within and beyond the cannabis industry.
Springbig's CEO, Jeffrey Harris, underscores the company's strategic initiatives and financial health, emphasizing their sound investments and innovative solutions such as subscription-based VIP loyalty programs. The company's recent positive Adjusted EBITDA and successful Convertible Note and Term Loan financing further bolster their growth trajectory.
In summary, Springbig continues to set the standard in customer loyalty and marketing automation, providing valuable tools and insights that drive retail foot traffic and customer retention, while expanding their reach into new industries and securing a stronger financial footing for future growth.
springbig has launched a new private app for Shopify, allowing hemp and CBD retailers to implement seamless customer loyalty programs and communication features. This integration will streamline loyalty program logistics, enabling easy enrollment, program design, point calculation, and promotional offers. Shopify merchants must comply with legal requirements for selling hemp products, including THC content regulations. CEO Jeffrey Harris emphasized that this app is the first of its kind for the cannabis industry, aiming to improve retail experiences across North America.
springbig (NASDAQ: SBIG) announced a collaborative event with JARS Cannabis on September 16, 2022, in Phoenix, celebrating Arizona's cannabis brands. This event emphasizes the importance of co-marketing within the cannabis industry, allowing brands to connect with retailers and promote products to loyal customers. springbig’s marketing platform facilitates these partnerships through SMS and email campaigns. JARS Cannabis has successfully utilized this platform to enhance customer engagement and sales.
Springbig (NASDAQ: SBIG, SBIGW) has launched a social equity program aimed at supporting marginalized communities affected by the War on Drugs. The initiative offers social equity license holders advantageous pricing, exclusive webinars, and three months of expert-led training. Participants will also benefit from marketing tools, including a loyalty rewards system and analytics features. This program reflects Springbig’s commitment to fostering an equitable marketplace, helping license holders achieve success in the cannabis industry.
SpringBig Holdings, Inc. (NASDAQ: SBIG) reported second-quarter 2022 revenue of $6.6 million, a 13% increase year-over-year. Subscription revenue rose by 35%, with a net dollar retention rate of 114%. The company added 509 new retail locations, totaling over 2,800. Despite an adjusted EBITDA loss of $(3.6) million and a basic net income loss per share of $(0.14), SpringBig anticipates full-year 2022 revenue between $26-$29 million, indicating 15% growth. For 2023, the firm expects acceleration in growth and plans to achieve EBITDA breakeven.
springbig (NASDAQ: SBIG) will announce its Q2 results on August 15, 2022, after market close, followed by a conference call at 5:00 p.m. ET. As a leading provider of SaaS marketing solutions for the cannabis industry, springbig focuses on customer loyalty and engagement through SMS marketing and analytics. The conference call offers participants the chance to register for a live webcast or join via phone.
For more information and access to the archived webcast, visit springbig's investor relations website.
Sales performance on July 10 surpassed previous Sundays by an average of 15%. springbig (NASDAQ: SBIG, SBIGW), specializing in SaaS marketing solutions for the cannabis sector, reported significant gains for the weekends surrounding July 4 and July 10. The company experienced an 18% increase in text messages and a 22% rise in total campaigns on Independence Day. Notably, July 10 saw a 20% increase in campaigns and a remarkable 46% surge in concentrates sales. This strong performance emphasizes the resilience of the cannabis industry amid uncertainties.
springbig announced an exclusive partnership with Kind+, introducing a subscription-as-a-service for cannabis retailers. This platform enables retailers to generate recurring revenue while offering consumer benefits like special pricing. The service is free to install, requiring under one hour for setup. Retailers can choose from four tiers offering various cost savings and marketing benefits. Notably, the Advanced tier provides up to $15,600 in annual savings. This partnership aims to enhance retail marketing and consumer engagement in the cannabis sector.
Springbig unveils enhanced marketing features tailored for the cannabis industry, improving communication for compliant dispensary marketing. Key updates include a sophisticated email engine allowing custom designs, Member Offers for direct wallet notifications, and the Campaign Caddie for data-driven marketing strategies. In addition, springbig has completed its business combination with Tuatara Capital, marking it as the largest publicly traded marketing automation platform in cannabis. The company's stock now trades under tickers SBIG and SBIGW.
SpringBig Holdings (NASDAQ: SBIG, SBIGW) announced the completion of its business combination with Tuatara Capital Acquisition Corporation on June 14, 2022. Following this, SpringBig reported a strong balance sheet with $15 million in cash and a public float exceeding 6.6 million shares, representing approximately 26% of outstanding shares. CFO Paul Sykes stated the company is positioned for cash flow breakeven by early 2023 and is looking to pursue strategic M&A opportunities to complement its growth.
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