SNIPP INTERACTIVE INC - SNIPF STOCK NEWS

Snipp Interactive (TSX-V:SPN, OTC:SNIPF) announces a strategic partnership with YouNet to enhance operational efficiency through AI integration. The collaboration will implement YouNet's 'Speak-to-Product' technology across Snipp's promotional solutions, focusing on automating customer support, content management, and data personalization.

The partnership aims to streamline processes, reduce costs, and improve customer experience through four key areas: AI-Driven Customer Support for faster query resolution, Dynamic User Manual Integration for instant access to product information, Data Personalization for enhanced customer engagement, and Operational Efficiency through task automation. The Company expects these improvements to directly contribute to increased margins and enhanced profitability.

Snipp Interactive (TSX-V:SPN, OTC PINK:SNIPF), a Platform-as-a-Service company in the global loyalty and promotions sector, held its annual general and special meeting on December 6, 2024. Shareholders approved all proposed matters, including the re-election of Brian J. Tunick, Sarfaraz Haji, Sina Miri and Atul Sabharwal to the board of directors.

The meeting also saw the appointment of RSM Canada LLP as the company's auditor for the upcoming year. Additionally, shareholders approved the company's amended fixed number stock option plan in accordance with TSX-V policies.

Snipp Interactive reported Q3 2024 financial results with revenue of $6.7M, down 22% from Q3 2023's $8.6M. Despite revenue decline, the company achieved record quarterly EBITDA of $708,649, a significant improvement from $33,408 in Q3 2023. Gross Margin nearly doubled to 62% in Q3 2024 from 32% in Q3 2023. The company maintains a strong financial position with $4.6M cash and zero debt. Bookings Backlog increased 7% to $15.5M. SnippMEDIA now reaches over 30M monthly active users. The revenue decline was attributed to the planned sunsetting of a single Gambit Rewards contract.

Snipp Interactive has released preliminary Q3 2024 financial results, forecasting revenue over $6MM and EBITDA exceeding $600,000. For the nine months ended September 30, 2024, revenue is projected to surpass $15MM with positive EBITDA. The company maintains a strong financial position with over $4.5MM in cash and remains debt-free. Growth is attributed to high-margin contracts, operational efficiencies, and expansion in both CPG and non-CPG client segments. Management expects continued growth in Q4 2024 based on current bookings backlog and sales pipeline.

Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF), a global provider of digital marketing promotions, rebates and loyalty solutions, has announced changes to its executive leadership team. Jaisun Garcha, the current Chief Financial Officer, will be stepping down effective October 11, 2024. The company has initiated a search for a permanent CFO and has appointed Richard Pistilli as Interim CFO to ensure a smooth transition.

Pistilli, who joined Snipp in 2022 as Managing Director overseeing Gambit Rewards, brings over 20 years of finance and capital markets experience. He holds an MBA from Yale University and a B.S. in Business & Economics from Cornell University. CEO Atul Sabharwal expressed gratitude for Garcha's contributions and confidence in Pistilli's ability to execute the company's strategy going forward.

Snipp Interactive (OTCPK:SNIPF), a global digital marketing provider, reported its Q2 2024 and H1 2024 financial results. Revenue for H1 2024 fell 33% to $9.4 million, compared to $14 million in H1 2023, due to the end of a key contract. Revenue for Q2 2024 also decreased by 36% to $4.8 million. However, Gross Margin saw a significant boost, increasing from 26% in the same period last year to 64% in Q2 2024. EBITDA turned positive at $11,958 in Q2 2024, a substantial improvement from a loss of $873,552 in Q2 2023. The company's Bookings Backlog stood at $17.2 million at the end of June 2024, up 23% year-over-year. Cash reserves were $5 million, and the company remained debt-free. An investor conference call is scheduled for August 29, 2024, to discuss these results.

Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF) has launched its AI in Shopper Marketing Technology Landscape, showcasing AI-driven innovations reshaping brand-consumer connections. The landscape highlights key areas transformed by AI, including predictive analytics, creative optimization, product innovation, and fraud management. A Deloitte study reveals that 40% of grocery executives plan to integrate AI into their business applications. Snipp's CEO, Atul Sabharwal, emphasizes the landscape's goal to help brands navigate the evolving shopper landscape. The company's SnippCARE Platform offers modules for long-term and short-term programs, generating valuable zero-party data for sales insights.

Snipp Interactive, a global provider of digital marketing solutions, has announced the launch of multiple customer loyalty programs for a leading FMCG company in the U.S. The initial contract is valued at $1.2 million. The FMCG client chose SnippCARE for its ease of use and scalability. This contract marks Snipp’s expansion into the FMCG sector, highlighting their ability to address complex marketing challenges. Founder Atul Sabharwal emphasized the importance of personalized promotions in retaining customer loyalty. More information is available on their website.

Snipp Interactive has launched CORRAL, a new AI solution to combat fraud in promotions, loyalty, and receipt-based programs. CORRAL utilizes machine learning, advanced algorithms, and real-time monitoring to detect, prevent, and mitigate fraudulent activities. The solution includes tools for enhanced receipt verification, file structure analysis, photo markers detection, and statistical analysis. These measures are aimed at maintaining the integrity of customer engagement programs and protecting businesses’ financial health. CORRAL aims to set a new standard in fraud prevention.