Snipp Interactive Reports Preliminary Financial Results for Q3 2024
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 ha pubblicato i risultati finanziari preliminari per il terzo trimestre del 2024, prevedendo un fatturato superiore a $6MM e un EBITDA che supererà $600.000. Per i nove mesi conclusi il 30 settembre 2024, si stima che il fatturato supererà $15MM con un EBITDA positivo. L'azienda mantiene una solida posizione finanziaria con oltre $4.5MM in contante e rimane senza debiti. La crescita è attribuita a contratti ad alta marginalità, efficienze operative ed espansione sia nei segmenti CPG che non-CPG. La direzione prevede una continua crescita nel quarto trimestre del 2024 basata sull'attuale arretrato degli ordini e sul pipeline di vendite.
Snipp Interactive ha publicado los resultados financieros preliminares del tercer trimestre de 2024, pronosticando ingresos superiores a $6MM y un EBITDA que excederá $600,000. Para los nueves meses finalizados el 30 de septiembre de 2024, se proyecta que los ingresos superen $15MM con un EBITDA positivo. La empresa mantiene una sólida posición financiera con más de $4.5MM en efectivo y se mantiene libre de deudas. El crecimiento se atribuye a contratos de alto margen, eficiencias operativas y expansión en segmentos de clientes tanto de CPG como no-CPG. La gerencia espera un crecimiento continuo en el cuarto trimestre de 2024 basado en la actual cartera de pedidos y el pipeline de ventas.
Snipp Interactive는 2024년 3분기 예비 재무 결과를 발표하며 수익을 $6MM 초과할 것으로 예측하고 EBITDA는 $600,000를 초과할 것으로 전망했습니다. 2024년 9월 30일 기준으로 종료된 9개월 동안 수익이 $15MM를 초과할 것으로 예상되며, 긍정적인 EBITDA를 기록할 것으로 보입니다. 회사는 $4.5MM 이상의 현금을 보유하고 있으며, 부채가 없는 강력한 재무 상태를 유지하고 있습니다. 성장은 고수익 계약, 운영 효율성 및 CPG 및 비-CPG 고객 세그먼트 확장에 기인합니다. 관리진은 현재의 예약 잔고와 판매 파이프라인을 바탕으로 2024년 4분기에도 지속적인 성장을 기대하고 있습니다.
Snipp Interactive a publié des résultats financiers préliminaires pour le troisième trimestre 2024, prévoyant des revenus supérieurs à $6MM et un EBITDA dépassant $600,000. Pour les neuf mois se terminant le 30 septembre 2024, les revenus devraient dépasser $15MM avec un EBITDA positif. L'entreprise maintient une position financière solide avec plus de $4.5MM en liquidités et reste sans dettes. La croissance est attribuée à des contrats à forte marge, à l'efficacité opérationnelle et à l'expansion tant dans les segments clients CPG que non-CPG. La direction s'attend à une croissance continue au quatrième trimestre 2024 sur la base du carnet de commandes actuel et du pipeline de ventes.
Snipp Interactive hat vorläufige Finanzzahlen für das dritte Quartal 2024 veröffentlicht und prognostiziert Einnahmen von über $6MM und ein EBITDA von über $600.000. Für die neun Monate bis zum 30. September 2024 wird ein Umsatz von über $15MM mit positivem EBITDA erwartet. Das Unternehmen hält eine starke Finanzposition mit über $4.5MM in bar und bleibt schuldenfrei. Das Wachstum wird durch margenstarke Verträge, operative Effizienz und Expansion in den CPG- und Nicht-CPG-Kundensegmenten erzielt. Die Geschäftsführung erwartet auf Grundlage des aktuellen Auftragsbestands und des Verkaufspipelines ein weiteres Wachstum im vierten Quartal 2024.
- Q3 2024 EBITDA exceeds $600,000
- Revenue forecast over $6MM for Q3 2024
- Nine-month revenue projected above $15MM
- Strong cash position of $4.5MM with zero debt
- Positive EBITDA for nine months ended September 2024
- None.
Significant Increase in Quarterly EBITDA Driven by Strong Core Revenue Growth and Continued Margin Improvement
VANCOUVER, BC / ACCESSWIRE / November 5, 2024 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSX-V:SPN)(OTC PINK:SNIPF), a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector is pleased to announce its preliminary financial results for Q3 2024. The Company is currently in the process of finalizing its Q3 2024 financial results. All results are reported under International Financial Reporting Standards ("IFRS") and are in US dollars.
Q3 2024 Financial Highlights - based on preliminary results
(Refer to Non-GAAP Measures, Gross Margin, EBITDA discussion below)
Revenue for Q3 2024 is forecast to be over
$6M MEBITDA for Q3 2024 is expected to be greater than
$600,000 Revenue for the nine months ended September 30, 2024, is forecast to be over
$15M MEBITDA for the nine months ended September 30, 2024, is expected to be positive
Cash totaled over
$4.5M M at the end of the quarter and the Company remains debt free
"We are excited to report strong growth in our Q3 2024 EBITDA driven by our strategic focus on high-margin contracts, operational efficiencies, and continued expansion within our core CPG platform, as well as with non-CPG clients," said Atul Sabharwal, Founder and CEO of Snipp Interactive. "Our bookings backlog and strong sales pipeline in our core business set the stage for continued growth in the fourth quarter. This reinforces our trajectory toward sustained profitability as we close out 2024 and head into 2025 with momentum."
Non-GAAP Measures
Snipp uses certain performance measures throughout this document that are not recognizable under Canadian generally accepted accounting principles or IFRS ("GAAP"). These performance measures include Gross Margin and EBITDA. Management believes that these measures provide supplemental financial information that is useful in the evaluation of the Company's operations.
Investors should be cautioned, however, that these measures should not be construed as alternatives to measures determined in accordance with GAAP and IFRS as an indicator of Snipp's performance. The Company's method of calculating these measures may differ from that of other organizations, and accordingly, these may not be comparable.
EBITDA
Snipp defines earnings before interest, taxes, depreciation and amortization ("EBITDA") as revenue minus operating expenses excluding non-cash operating expenses of share-based payments, depreciation and amortization (interest and taxes are not included in the Company's operating expenses).
Gross Margin
Snipp defines Gross Margin as revenue less campaign infrastructure. The Company's calculation of Gross Margin is not a financial measure that is recognized under GAAP. Investors should be cautioned that the Company's defined Gross Margin should not be construed as an alternative measure to other measures determined in accordance with GAAP.
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.
Richard Pistelli
Chief Financial Officer (Interim)
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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