Snipp Interactive Inc. Delivers Record Sales Bookings for the Third Quarter at USD $5.7MM, Highest in Its History

Rhea-AI Summary

Snipp Interactive achieved record sales bookings of over USD $5.7 million in Q3 2021, surpassing its previous quarter's record. This marks the second consecutive quarter with bookings exceeding USD $5 million, driven by 12 contracts totaling USD $1.68 million across various regions, including the USA, LATAM, and EMEA. CEO Atul Sabharwal expressed optimism regarding the company's growth strategy based on these results. Snipp specializes in digital marketing promotions and loyalty solutions, providing integrated marketing technology.

Positive

• Record sales bookings of over USD $5.7 million in Q3 2021.
• Second consecutive quarter with sales bookings exceeding USD $5 million.
• Successfully executed 12 contracts worth USD $1.68 million in the last week of the quarter.
• Sales bookings from diverse regions including USA, LATAM, and EMEA.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 6, 2021 / Snipp Interactive Inc. ("Snipp", the "Company") (TSXV:SPN)(OTC PINK:SNIPF), a global provider of digital marketing promotions, rebates, and loyalty solutions, is pleased to announce another historic and successful quarter. For the first time in its history the Company consummated total sales bookings of over USD $5.7MM. This beats our second quarter which was the quarter where we previously achieved record historic sales. Apart from breaking this record, this quarter marks Snipp's second consecutive quarter of sales bookings crossing the USD $5 million mark. Capping of this very successful quarter, in the last week, the Company executed 12 contracts worth USD $1.68MM. The sales bookings took place across USA, LATAM, and EMEA and across all components of the Company's modular SnippCARE (Customer Acquisition, Retention and Engagement) Platform.

"We couldn't be happier with our third quarter sales bookings. A lot happened this quarter and we are eager to share our results which we are actively working on finalizing but in the interim our sales bookings for the quarter should provide some indications of how things are progressing for the company as we execute our growth strategy," said Atul Sabharwal, Founder & CEO.

About Snipp:

Snipp is a global loyalty and promotions company with a singular focus: to develop disruptive engagement platforms that generate insights and drive sales. Our solutions include shopper marketing promotions, loyalty, rewards, rebates and data analytics, all of which are seamlessly integrated to provide a one-stop marketing technology platform. We also provide the services and expertise to design, execute and promote client programs. SnippCheck, our receipt processing engine, is the market leader for receipt-based purchase validation; SnippLoyalty is the only unified loyalty solution in the market for CPG brands. Snipp has powered hundreds of programs for Fortune 1000 brands and world-class agencies and partners.

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.

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FAQ

What were Snipp Interactive's sales bookings for Q3 2021?

Snipp Interactive reported record sales bookings of over USD $5.7 million for Q3 2021.

How many contracts did Snipp Interactive execute in the last week of Q3 2021?

The company executed 12 contracts worth USD $1.68 million in the last week of Q3 2021.

Which regions contributed to Snipp Interactive's Q3 2021 sales bookings?

Sales bookings in Q3 2021 came from the USA, LATAM, and EMEA regions.

How does Snipp Interactive's Q3 2021 performance compare to the previous quarter?

Snipp's Q3 2021 sales bookings exceeded its previous quarter's record, marking the highest in its history.

What is the significance of Snipp Interactive's sales performance?

The record sales performance indicates strong demand and successful execution of the company's growth strategy.