Snipp Interactive Announces Record January Bookings

Rhea-AI Summary

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.

VANCOUVER, BC / ACCESSWIRE / February 5, 2024 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSX-V:SPN)(OTC PINK:SNIPF), a global provider of digital marketing promotions, rebates, and loyalty solutions, is pleased to announce that its January bookings exceeded $2.5MM, the second highest in its history and the largest start to a year in January. Snipp defines bookings as future revenue from signed customer contracts to be recognized in future periods based on IFRS principles.

Atul Sabharwal, Founder of Snipp, commented, "The investments we've made in our platform are starting to pay off. We are very pleased to report record January bookings, building upon our strong momentum from 2023. Our exceptional start underscores not only the strength of our bookings, but also the advancement of our strategy to elevate overall company margins towards historical norms. It is noteworthy that the bookings reported today do not include progress we are seeing across opportunities with Gambit and SnippMedia, but importantly they do represent 60% margin revenue, reflecting our commitment to profitable growth going forward."

More information about our platform can be found at https://www.snipp.com/

About Snipp:

Snipp Interactive Inc (TSX-V: SPN; OTCPK: SNIPF) is a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp's proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 1000 Clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform's Receipt Processing Module has established itself as the clear industry leader and standard by powering a large majority of all receipt-based promotions in North America. SnippLOYALTY, the Platform's full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case-by-case basis. SnippREWARDS, the Platform's modular catalogue of digital and physical rewards provides Clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform's gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit the Company's website at www.snipp.com.

Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the Toronto Stock Venture Exchange (TSX-V) in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.

FOR FURTHER INFORMATION PLEASE CONTACT:

Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
1-888-99-SNIPP

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.

SOURCE: Snipp Interactive Inc.

View the original press release on accesswire.com

FAQ

What is the amount of Snipp Interactive Inc.'s January bookings?

Snipp Interactive Inc.'s January bookings exceeded $2.5MM, the second highest in its history.

Who commented on the January bookings?

Atul Sabharwal, Founder of Snipp, commented on the January bookings.

What do the bookings represent?

The bookings represent 60% margin revenue, reflecting their commitment to profitable growth.

What is the strategy mentioned in the announcement?

The announcement mentions the advancement of their strategy to elevate overall company margins towards historical norms.