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SNIPP INTERACTIVE INC (SNIPF) is a global loyalty and promotions company focused on developing disruptive engagement platforms to drive sales and generate insights. Their solutions encompass shopper marketing promotions, loyalty, rewards, rebates, and data analytics, all integrated into a comprehensive marketing technology platform. With headquarters in Toronto, Canada, and offices across the US, Canada, Europe, and India, SNIPP has powered numerous programs for Fortune 1000 brands and agencies.
Snipp Interactive (TSX-V:SPN)(OTCPK:SNIPF) announced that Chief Marketing Officer Tom Treanor will step down effective January 15, 2024. Treanor, who joined full-time in 2022 after serving as an advisor, played a key role in transforming the company's marketing efforts. Under his leadership, the global provider of digital marketing promotions, rebates and loyalty solutions experienced significant improvements in online property conversion rates and advertising campaign performance, contributing to revenue growth through marketing channels. The company's existing team will now oversee day-to-day marketing operations.
Snipp Interactive (TSXV:SPN, OTC:SNIPF) has secured a three-year contract worth over $1 million with a global health and hygiene products company, focusing on their baby care product line. The agreement leverages SnippCARE technology and builds upon an existing partnership that has demonstrated a remarkable 124% compound annual growth rate (CAGR) over the past five years.
This contract exemplifies Snipp's successful 'land and expand' strategy, where initial partnerships with large consumer brands evolve into broader collaborations across multiple product categories. The company's platform has proven its ability to integrate into complex ecosystems, enabling brands to enhance customer engagement, gather data insights, and improve profitability.
Snipp Interactive (TSX-V:SPN, OTC:SNIPF) has secured a landmark $1.2MM contract with a leading global food and beverage company for its SnippMEDIA Financial Media Network (SnippFMN). This marks the platform's first major sale, building upon existing partnerships with Triple and Bank of America.
The SnippFMN platform enables contextual and behaviorally targeted consumer promotions through digital assets, allowing consumers to clip offers and redeem rewards using Snipp-generated barcodes. The platform currently reaches over 30 million monthly active users with redemption rates of 5-10%.
The new program will feature 1,527 individual 'Buy-Get' offers sponsored by the client. The Bank of America integration has been live for six months, providing seamless integration into customer engagement channels. This strategic partnership demonstrates Snipp's capability to deliver scalable, AI-powered solutions that drive customer engagement and incremental sales.
Snipp Interactive (TSX-V:SPN, OTC PINK:SNIPF) has been featured in Forbes' '15 Customer Experience Predictions for 2025' article. The company's insights were selected from 396 submissions and positioned alongside major corporations like Amazon, Adobe, ServiceNow, and Zoom Communications. Notably, Snipp was one of only two companies with multiple experts quoted, featuring contributions from Michelle Hoffman, Head of Customer Experience, and Chris Cubba, Chief Revenue Officer. The company's predictions were prominently featured at the beginning of the article, demonstrating its thought leadership in customer engagement innovation.
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.
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