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SpringBig Holdings, Inc. - $SBIG STOCK NEWS

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SpringBig Holdings, Inc. (OTCQX: SBIG) is a prominent software platform that offers customer loyalty and marketing automation solutions to retailers and brands in the U.S. and Canada. Their cutting-edge platform aims to connect consumers with retailers primarily through SMS marketing, as well as via emails, a customer feedback system, and loyalty programs, all designed to enhance customer engagement and retention.

Springbig's latest features include an innovative Campaign Follow-Ups tool that allows merchants to schedule, create, and send follow-up messages based on user interaction with initial campaigns. This feature simplifies engagement and drives performance by targeting messages based on user behavior. Additionally, Springbig has launched Gift Cards by Springbig, a feature that offers both physical and digital gift cards, streamlining the payment process and catering to the growing consumer demand for convenience.

Beyond these new offerings, Springbig provides robust reporting and analytics tools that help clients understand customer behavior and trends, enabling smarter marketing decisions. Their recent integration with Lightspeed, a unified POS and payments platform, highlights their commitment to seamless, compliant marketing solutions within and beyond the cannabis industry.

Springbig's CEO, Jeffrey Harris, underscores the company's strategic initiatives and financial health, emphasizing their sound investments and innovative solutions such as subscription-based VIP loyalty programs. The company's recent positive Adjusted EBITDA and successful Convertible Note and Term Loan financing further bolster their growth trajectory.

In summary, Springbig continues to set the standard in customer loyalty and marketing automation, providing valuable tools and insights that drive retail foot traffic and customer retention, while expanding their reach into new industries and securing a stronger financial footing for future growth.

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Springbig (OTCQX: SBIG) announced its Q1 2024 financial results, showing a positive Adjusted EBITDA for the first time and a 34% reduction in operating expenses year-over-year.

Revenue for the quarter was $6.5 million, down from $7.2 million in the same period last year, with subscription revenue making up 83% of the total at $5.4 million. Gross profit was $4.7 million, representing a 72% gross profit margin. The net income stood at $0.4 million, which includes a $1.6 million gain from the repurchase of convertible debt.

Significant developments include the $8 million debt financing completed in January 2024 and the appointment of Mark Silver to the Board of Directors on May 10, 2024.

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Springbig supports the DEA's decision to reclassify marijuana, highlighting new business opportunities and improved consumer access. This move signifies a positive shift in the cannabis industry, reducing regulatory barriers and promoting growth. CEO Jeff Harris emphasizes the transformative impact on businesses and consumers, with Springbig well-positioned to assist companies in navigating the changing landscape.

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Springbig launches '20 Days of 4/20' campaign to boost customer engagement and brand loyalty for dispensaries in preparation for the upcoming celebration on April 20th. The campaign aims to provide daily recommendations to empower dispensary owners and marketers to enhance customer retention and solidify brand relationships.
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Springbig Holdings, Inc. (SBIG) announced integration with Lightspeed Commerce Inc. to expand marketing solutions beyond the cannabis industry, enhancing customer engagement and loyalty across various sectors. The 2-way integration includes loyalty and advanced text functions for Lightspeed merchants.
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SpringBig Holdings, Inc. (SBIG) reports financial results for Q4 and full year 2023 with revenue growth, debt financing, and new product launches. The company expects positive revenue and EBITDA for 2024.
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Springbig (SBIG) to announce Q4 and full-year 2023 results on March 12, 2024, followed by a conference call. The Company offers SaaS-based marketing solutions and omnichannel loyalty programs.
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SpringBig Holdings, Inc. announced changes in its board of directors following the completion of an $8.0 million debt financing with a syndicate of lenders. Matt Sacks and Shawn Dym have joined the board, bringing extensive experience in technology and cannabis industries. Phil Schwarz and Jon Trauben have resigned from the board, effective January 23, 2024.
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SpringBig Holdings, Inc. secures $8.0 million of debt financing to repurchase existing debt, reduce expenses, and support future growth. The company expects to achieve positive Adjusted EBITDA in 2024 and anticipates revenue growth of 10% at the midpoint.
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SpringBig Holdings, Inc. (SBIG) launches Gift Cards by Springbig, a new feature on the platform to revolutionize dispensary transactions. The feature aims to streamline payments, meet evolving consumer preferences, and enhance accessibility. The launch is timely, coinciding with the holiday season and the growing trend of digital gift cards. Seventy six percent of consumers have purchased a gift card in the past year, and 40 percent were digital. The new feature offers a user-friendly, secure, and efficient payment solution, similar to the Starbucks app, empowering retailers to meet consumers' preferences.
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SpringBig Holdings, Inc. (OTCQX: SBIG) announced its Q3 2023 financial results, reporting a 5% year-on-year decrease in revenue, but a 13% increase in subscription revenue. The company's gross profit margin was 77%, and they achieved a 31% year-on-year reduction in operating expenses, resulting in an improved Adjusted EBITDA loss of $(0.9) million compared to $(3.4) million in the prior year. The company also added 89 new clients in Q3, with a financial outlook expecting a 6% year-on-year revenue growth for the full year, and an Adjusted EBITDA loss of $(3.4) million for the year.
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FAQ

What is SpringBig Holdings, Inc.?

SpringBig Holdings, Inc. is a software platform that provides customer loyalty and marketing automation solutions for retailers and brands in the U.S. and Canada.

What services does Springbig offer?

Springbig offers customer loyalty programs, SMS marketing, email marketing, customer feedback systems, and advanced analytics tools to improve customer engagement and retention.

What is the Campaign Follow-Ups feature?

The Campaign Follow-Ups feature allows merchants to schedule and send follow-up messages based on user interaction with initial marketing campaigns.

What are Gift Cards by Springbig?

Gift Cards by Springbig are both physical and digital gift cards that simplify the payment process, catering to the growing demand for convenient and secure payment methods.

How does Springbig help businesses understand their customers?

Springbig provides robust reporting and analytics tools that offer insights into customer behavior, purchasing habits, and trends to help businesses make informed marketing decisions.

What is Springbig’s integration with Lightspeed?

Springbig has integrated with Lightspeed, a unified POS and payments platform, to offer loyalty and advanced text functions that connect merchants with their customers seamlessly.

What recent financial achievements has Springbig made?

Springbig recently achieved a positive Adjusted EBITDA and secured Convertible Note and Term Loan financing, strengthening their balance sheet and supporting future growth.

What are Springbig’s newest marketing features?

Recent features include Campaign Follow-Ups, Gift Cards, subscription-based VIP loyalty programs, and enhanced engagement tools like Campaign Caddie and Advanced Member Offers.

What industries does Springbig serve?

Initially focusing on the cannabis industry, Springbig is expanding its expertise to other regulated industries, such as liquor, health, and beauty.

How can I stay updated on Springbig’s latest developments?

You can stay updated by following Springbig's social media channels or visiting their official website at https://springbig.com/.

SpringBig Holdings, Inc.

OTC:SBIG

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SBIG Stock Data

6.16M
29.33M
19.45%
21.48%
0.56%
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