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SpringBig Holdings, Inc. Financials

SBIG
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows SpringBig Holdings, Inc. (SBIG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SBIG FY2025

High-gross-margin economics are nearing cash breakeven, but the company still operates on a liability-heavy balance sheet.

In the latest year, cash conversion flipped: the company produced $321K of free cash flow despite a -$3.2M net loss. Because FY2024 still burned cash on a smaller loss, the income statement is currently painting a harsher picture than the cash flow statement, even while liabilities still exceed assets by more than $12.0M.

Gross margin near 70.0% says the service itself is still inexpensive to deliver, so the weak bottom line is not coming from direct delivery costs. The much smaller operating losses versus the earlier trough read as cost discipline rather than demand-led leverage, because revenue is lower while losses are far narrower.

The balance sheet is still liability-funded: the current ratio is 0.5x and cash is only $1.5M, so short-term obligations remain heavier than liquid resources. With negative equity, the business is being supported by creditors and other liabilities rather than by retained capital or a meaningful cash buffer.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 21 / 100
Financial Profile 21/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of SpringBig Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

SpringBig Holdings, Inc. has an operating margin of -7.6%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -2.4% the prior year.

Growth
17

SpringBig Holdings, Inc.'s revenue declined 7.4% year-over-year, from $24.6M to $22.8M. This contraction results in a growth score of 17/100.

Leverage
90

SpringBig Holdings, Inc. carries a low D/E ratio of -0.74, meaning only $-0.74 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
5

SpringBig Holdings, Inc.'s current ratio of 0.54 is below the typical benchmark, resulting in a score of 5/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
16

SpringBig Holdings, Inc.'s free cash flow margin of 1.4% results in a low score of 16/100. Capital expenditures of $40K absorb a large share of operating cash flow.

Piotroski F-Score Weak
3/9

SpringBig Holdings, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed
-0.11x

For every $1 of reported earnings, SpringBig Holdings, Inc. generates $-0.11 in operating cash flow ($361K OCF vs -$3.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-1.3x

SpringBig Holdings, Inc. earns $-1.3 in operating income for every $1 of interest expense (-$1.7M vs $1.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$22.8M
YoY-7.4%

SpringBig Holdings, Inc. generated $22.8M in revenue in fiscal year 2025. This represents a decrease of 7.4% from the prior year.

EBITDA
-$1.7M
YoY-293.1%

SpringBig Holdings, Inc.'s EBITDA was -$1.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 293.1% from the prior year.

Net Income
-$3.2M
YoY-73.1%

SpringBig Holdings, Inc. reported -$3.2M in net income in fiscal year 2025. This represents a decrease of 73.1% from the prior year.

EPS (Diluted)
$-0.07
YoY-75.0%

SpringBig Holdings, Inc. earned $-0.07 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 75.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$321K
YoY+131.6%

SpringBig Holdings, Inc. generated $321K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 131.6% from the prior year.

Cash & Debt
$1.5M
YoY+27.2%

SpringBig Holdings, Inc. held $1.5M in cash against $9.2M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
49M
YoY+4.7%

SpringBig Holdings, Inc. had 49M shares outstanding in fiscal year 2025. This represents an increase of 4.7% from the prior year.

Margins & Returns

Gross Margin
70.0%
YoY-3.0pp

SpringBig Holdings, Inc.'s gross margin was 70.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.0 percentage points from the prior year.

Operating Margin
-7.6%
YoY-5.1pp

SpringBig Holdings, Inc.'s operating margin was -7.6% in fiscal year 2025, reflecting core business profitability. This is down 5.1 percentage points from the prior year.

Net Margin
-14.2%
YoY-6.6pp

SpringBig Holdings, Inc.'s net profit margin was -14.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.6 percentage points from the prior year.

Return on Equity
N/A

Capital Allocation

R&D Spending
$4.8M
YoY-19.3%

SpringBig Holdings, Inc. invested $4.8M in research and development in fiscal year 2025. This represents a decrease of 19.3% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$40K
YoY-37.5%

SpringBig Holdings, Inc. invested $40K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 37.5% from the prior year.

SBIG Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $5.4M-3.0% $5.6M-4.4% $5.9M+0.6% $5.8M+5.8% $5.5M-3.0% $5.7M-7.4% $6.1M-4.3% $6.4M
Cost of Revenue $1.9M-23.0% $2.4M+39.6% $1.7M+15.3% $1.5M+24.3% $1.2M-19.9% $1.5M-11.9% $1.7M-0.9% $1.7M
Gross Profit $3.6M+12.2% $3.2M-22.8% $4.1M-4.5% $4.3M+0.6% $4.3M+3.1% $4.2M-5.7% $4.4M-5.6% $4.7M
R&D Expenses $1.2M+5.9% $1.2M+5.5% $1.1M-10.8% $1.2M-3.0% $1.3M-4.1% $1.3M-19.2% $1.6M+29.1% $1.3M
SG&A Expenses $1.8M-22.1% $2.3M+43.6% $1.6M-39.1% $2.7M+11.5% $2.4M+15.8% $2.1M+17.9% $1.8M-25.2% $2.4M
Operating Income -$139K+87.8% -$1.1M-301.8% $563K+177.5% -$726K-70.0% -$427K-97.7% -$216K-380.0% -$45K+21.1% -$57K
Interest Expense $355K+3.8% $342K+1.5% $337K+5.0% $321K-0.9% $324K+35.6% $239K-56.5% $550K+1.1% $544K
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$494K+68.6% -$1.6M-818.7% $219K+119.2% -$1.1M-51.9% -$751K+31.2% -$1.1M-97.1% -$554K+14.4% -$647K
EPS (Diluted) $-0.01 N/A $0.00+100.0% $-0.020.0% $-0.02 N/A $-0.010.0% $-0.01

SBIG Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $4.3M-7.5% $4.6M-10.3% $5.2M+11.5% $4.6M-32.7% $6.9M+0.7% $6.8M-8.8% $7.5M-5.9% $7.9M
Current Assets $3.9M-7.0% $4.2M-10.8% $4.7M+13.3% $4.1M+2.4% $4.0M+4.5% $3.9M-12.7% $4.4M-6.4% $4.7M
Cash & Equivalents $1.3M-13.3% $1.5M0.0% $1.5M+7.1% $1.4M+27.3% $1.1M-6.7% $1.2M+39.2% $847K+17.0% $724K
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $1.7M-13.0% $2.0M-5.6% $2.1M-0.7% $2.1M-3.4% $2.2M0.0% $2.2M-22.3% $2.8M-11.7% $3.2M
Goodwill $17K0.0% $17K0.0% $17K N/A N/A N/A N/A N/A
Total Liabilities $17.2M+0.4% $17.1M+6.1% $16.1M+1.1% $16.0M-7.4% $17.2M+3.8% $16.6M+1.7% $16.3M-0.6% $16.4M
Current Liabilities $17.1M+121.2% $7.7M+15.0% $6.7M-3.8% $7.0M+15.0% $6.1M+6.8% $5.7M-58.6% $13.7M N/A
Long-Term Debt $9.8M+5.6% $9.2M+0.2% $9.2M+5.6% $8.7M+0.2% $8.7M+4.2% $8.4M+8.1% $7.7M-43.3% $13.6M
Total Equity -$12.9M-3.4% -$12.5M-13.8% -$11.0M+3.1% -$11.3M-9.3% -$10.4M-6.0% -$9.8M-10.5% -$8.8M-4.4% -$8.5M
Retained Earnings -$42.2M-1.2% -$41.7M-3.9% -$40.1M+0.5% -$40.3M-2.9% -$39.2M-2.0% -$38.4M-2.9% -$37.3M-1.5% -$36.8M

SBIG Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$229K-1045.0% -$20K-112.3% $163K-25.2% $218K+353.5% -$86K-122.6% $381K-34.9% $585K+1526.8% -$41K
Capital Expenditures $6K-50.0% $12K-14.3% $14K+75.0% $8K+33.3% $6K $0-100.0% $1K-75.0% $4K
Free Cash Flow -$235K-634.4% -$32K-121.5% $149K-29.0% $210K+328.3% -$92K-124.1% $381K-34.8% $584K+1397.8% -$45K
Investing Cash Flow -$6K+50.0% -$12K+14.3% -$14K-75.0% -$8K-33.3% -$6K $0+100.0% -$1K+75.0% -$4K
Financing Cash Flow N/A N/A N/A N/A N/A -$49K+89.4% -$461K+48.7% -$899K
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

SBIG Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 65.9%+8.9pp 57.0%-13.6pp 70.5%-3.8pp 74.3%-3.8pp 78.1%+4.6pp 73.5%+1.4pp 72.2%-1.0pp 73.1%
Operating Margin -2.5%+17.7pp -20.3%-29.8pp 9.6%+22.0pp -12.4%-4.7pp -7.7%-3.9pp -3.8%-3.1pp -0.7%+0.2pp -0.9%
Net Margin -9.1%+19.0pp -28.1%-31.8pp 3.7%+23.3pp -19.6%-5.9pp -13.6%+5.6pp -19.2%-10.2pp -9.0%+1.0pp -10.1%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets -11.5%+22.5pp -34.0%-38.2pp 4.2%+28.9pp -24.6%-13.7pp -10.9%+5.1pp -16.0%-8.6pp -7.4%+0.7pp -8.1%
Current Ratio 0.23-0.3 0.54-0.2 0.70+0.1 0.59-0.1 0.67-0.0 0.68+0.4 0.32 N/A
Debt-to-Equity -0.76-0.0 -0.74+0.1 -0.84-0.1 -0.77+0.1 -0.84+0.0 -0.86+0.0 -0.87+0.7 -1.61
FCF Margin -4.3%-3.8pp -0.6%-3.1pp 2.5%-1.1pp 3.6%+5.3pp -1.7%-8.4pp 6.7%-2.8pp 9.5%+10.2pp -0.7%

Note: Shareholder equity is negative (-$12.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.54), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

SpringBig Holdings, Inc. (SBIG) reported $22.8M in total revenue for fiscal year 2025. This represents a -7.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

SpringBig Holdings, Inc. (SBIG) revenue declined by 7.4% year-over-year, from $24.6M to $22.8M in fiscal year 2025.

No, SpringBig Holdings, Inc. (SBIG) reported a net income of -$3.2M in fiscal year 2025, with a net profit margin of -14.2%.

SpringBig Holdings, Inc. (SBIG) reported diluted earnings per share of $-0.07 for fiscal year 2025. This represents a -75.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

SpringBig Holdings, Inc. (SBIG) had EBITDA of -$1.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, SpringBig Holdings, Inc. (SBIG) had $1.5M in cash and equivalents against $9.2M in long-term debt.

SpringBig Holdings, Inc. (SBIG) had a gross margin of 70.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

SpringBig Holdings, Inc. (SBIG) had an operating margin of -7.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

SpringBig Holdings, Inc. (SBIG) had a net profit margin of -14.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

SpringBig Holdings, Inc. (SBIG) generated $321K in free cash flow during fiscal year 2025. This represents a 131.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

SpringBig Holdings, Inc. (SBIG) generated $361K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

SpringBig Holdings, Inc. (SBIG) had $4.6M in total assets as of fiscal year 2025, including both current and long-term assets.

SpringBig Holdings, Inc. (SBIG) invested $40K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

SpringBig Holdings, Inc. (SBIG) invested $4.8M in research and development during fiscal year 2025.

SpringBig Holdings, Inc. (SBIG) had 49M shares outstanding as of fiscal year 2025.

SpringBig Holdings, Inc. (SBIG) had a current ratio of 0.54 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

SpringBig Holdings, Inc. (SBIG) had a debt-to-equity ratio of -0.74 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

SpringBig Holdings, Inc. (SBIG) had a return on assets of -70.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

SpringBig Holdings, Inc. (SBIG) has negative shareholder equity of -$12.5M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

SpringBig Holdings, Inc. (SBIG) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

SpringBig Holdings, Inc. (SBIG) has an earnings quality ratio of -0.11x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

SpringBig Holdings, Inc. (SBIG) has an interest coverage ratio of -1.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

SpringBig Holdings, Inc. (SBIG) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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