SNIPP INTERACTIVE INC - SNIPF STOCK NEWS

Snipp Interactive Inc. has entered a contract with a Top 5 global research firm to implement its SnippREWARDS Platform for an American beverage company across 7 countries, projected to generate USD $1-$2MM annually. The rollout may expand to 40 countries in total. Previously, Snipp launched this platform for a tobacco client across 34 countries. This agreement reflects increasing confidence from Fortune 500 clients in Snipp's capabilities, enhancing its global presence.

Snipp Interactive has secured a contract exceeding EUR 200,000 with a major Italian luxury ecommerce retailer, part of a prominent European retail group, aiming for expansion in North America and Asia. The company's international recognized revenues surpassed USD 1.5 million this year, marking a three-year high. Snipp operates in over 30 countries, demonstrating the effectiveness of its SnippCARE platform amid pandemic challenges. Snipp focuses on building a global business comparable to its North American operations.

Snipp Interactive Inc. (TSX-V:SPN; OTC PINK:SNIPF) has secured over USD $600,000 in new contract signings for its SnippCARE platform. This includes a six-month pilot with a leading utility company valued at approximately USD $296,000, marking Snipp's first contract with a Crown Corporation in Canada. Additionally, a contract worth USD $315,000 was signed with a Fortune 500 client. The CEO anticipates a revenue growth of over 50% year-on-year in the upcoming third quarter.

Snipp Interactive has secured a GBP 350,000 (USD $440,000) loyalty contract with a Fortune 500 company to enhance their global loyalty program focused on baby and toddler products in South America and Southeast Asia. The transition to Snipp's CARE platform aims to improve consumer experience and data acquisition. Additionally, Snipp has expanded its presence in Europe with the hiring of Mark Ross as VP of Sales, enhancing its ability to capture enterprise-level opportunities across four continents.

Snipp Interactive has successfully contributed to the Manitoba Chambers of Commerce's Tourism Rebate Incentive Program (TRIP), aiding over 10,000 Manitobans and generating more than 8,700 hotel room nights in just two weeks. The program, which provided 2,400 rebates for admission to attractions, will continue for an additional 18 days from August 26 to September 12, 2021. Snipp's involvement is projected to exceed CAN$ 2,000,000 in total contract value. The company has enabled a seamless rebate process, enhancing local tourism amid COVID-19 recovery efforts.

Snipp Interactive (OTC PINK:SNIPF) has secured a $425,000 loyalty contract with a Fortune 500 company, transitioning their existing ten-year program to Snipp's Customer Acquisition, Retention and Engagement (CARE) platform. This contract focuses on the client's frozen products at a single grocer in the Southern USA. Future contracts are anticipated to expand the program nationally. The Client will utilize Snipp's proprietary receipt processing for improved customer engagement, satisfaction, and insights.

Snipp Interactive Inc. (TSX-V:SPN, OTC PINK:SNIPF) reported an 8% revenue increase in Q1 2021, totaling $2.57 million, compared to $2.37 million in Q1 2020. Gross margin decreased to 68% from 73%.

Notably, EBITDA surged by 233% to $153,948, reinforcing five consecutive quarters of positive EBITDA. The bookings backlog reached $7.5 million, a 60% increase year-over-year, signaling strong future revenue potential. The company anticipates over 50% revenue growth in Q2 2021, indicating a promising year ahead.

Snipp Interactive has secured a contract exceeding CAD$ 2,000,000 with a Canadian province's Chambers of Commerce. This initiative aims to stimulate travel and boost local economic recovery as pandemic restrictions ease. The program is designed to encourage tourism through socially distanced outdoor activities during the summer. CEO Atul Sabharwal expressed optimism about leveraging this program as a model for similar initiatives across Canada and the US, highlighting the versatility of Snipp's platform.

Snipp Interactive Inc. (OTC PINK:SNIPF) reported financial results for Q4 2020 and the fiscal year ending December 31, 2020, demonstrating notable growth. Q4 revenue surged by 62% year-over-year to $2,180,860, with full-year revenue increasing by 1% to $8,692,274. The company achieved a gross margin of 75% in Q4 and 72% for the fiscal year. EBITDA improved significantly, rising 116% in Q4 and 128% for the year, marking a transition to positive EBITDA. Bookings backlog also increased by 49% to $6.7MM, indicating strong future revenue potential.