SNIPP INTERACTIVE INC - SNIPF STOCK NEWS

Snipp Interactive reported its Q1 2024 financial results, highlighting a 29% decrease in revenue compared to Q1 2023, attributed to the sunsetting of a single contract from the Gambit Rewards acquisition. Despite the decline, the company's gross margin increased significantly from 29% to 54%, and EBITDA losses improved from $1.1 million to $0.6 million. The bookings backlog rose 12% to $15.4 million. Snipp ended the quarter with $4.2 million in cash and remains debt-free. The company secured multiple large contracts, including a historic deal with a global food and beverage company, expected to generate over $6 million in Q3 2024. Snipp anticipates continued margin improvement and profitability scaling in the second half of the year.

Snipp Interactive Inc. reported record-breaking revenue of $30.55 million for Fiscal 2023, a 24% increase from the previous year, with Q4 2023 revenue reaching $7.96 million. EBITDA saw a positive trend in the second half of 2023, with a bookings backlog of $13.6 million. The company remains debt-free, with strategic expansions and increased profitability in key business lines.

Snipp Interactive Inc. announces record first quarter bookings, exceeding $9.0MM, with geographical diversity and contribution from new clients. Atul Sabharwal, Founder of Snipp, highlights strong returns on investments and focus on profitable growth in 2024.

Snipp Interactive Inc. releases critical resources on sports marketing trends, providing brands with essential insights to enhance consumer engagement and sales growth. The company offers a comprehensive guide on the latest trends in sports marketing, real-life examples of successful strategies, a sports event calendar, and specific strategies for leveraging high-engagement events like March Madness. Snipp's modular suite of solutions supports brands in implementing effective sports marketing campaigns, including promotions, sweepstakes, receipt processing, customer loyalty, and gambit rewards.

Snipp Interactive Inc. announces a $1.1M rebate campaign agreement with a major food and beverage company, showcasing a significant win in the digital marketing promotions sector.

Snipp Interactive Inc. announces a renewal agreement for its SnippREWARDS platform with a leading American multinational beverage company through a partnership with a Top 5 global research and consulting firm. The Client has deployed SnippREWARDS across 9 countries in the past year, with plans for expansion. This renewal highlights the value of Snipp's solutions for large brands in complex multi-country programs.

Snipp Interactive Inc. announces that its January bookings exceeded $2.5MM, the second highest in its history. Atul Sabharwal, Founder of Snipp, comments on the strong momentum from 2023 and the advancement of their strategy to elevate overall company margins towards historical norms. The bookings represent 60% margin revenue, reflecting their commitment to profitable growth.

Snipp Interactive Inc. announces the grant of 8,200,000 stock options to officers and employees, delayed due to a prior halt in trading. The options are exercisable at C$0.12 per share, expiring after 5 years and vesting in tranches until January 30, 2027.

Snipp Interactive Inc. announces the full revocation of the cease trade order by the British Columbia Securities Commission and the reinstatement of its common shares for trading on the TSX Venture Exchange. The company had faced the CTO due to the inability to file audited financial statements, MD&A, and certifications for the year ended December 31, 2022 within the prescribed time frame. The CTO was fully revoked on January 25, 2024, after the BCSC completed a review of the company's continuous disclosure in compliance with Policy Statement 11-207.