SpringBig Holdings, Inc. Stock Price, News & Analysis

On February 23, 2023, springbig (NASDAQ: SBIG) announced it will release its Q4 2022 and full-year 2022 financial results after market close on March 9, 2023. The company will host a conference call at 5:00 p.m. ET on the same day to discuss these results. Interested participants can register for a live webcast or join via phone. springbig provides SaaS-based marketing solutions and loyalty programs for the cannabis industry, connecting consumers with retailers through various communication methods, including SMS marketing.

springbig has launched new marketing features, emphasizing personalized marketing for the cannabis industry. The updates include 'Build Your Own Audience,' enhancing customer segmentation, and 'Compare Campaigns,' allowing merchants to analyze previous marketing efforts. springbig’s new branding reflects its growth in SaaS-based solutions, aiming to provide dispensary owners with tailored campaigns. The company has been recognized by Deloitte as one of the 500 fastest-growing companies in 2022, indicating its impact in improving client marketing strategies. The new features eliminate the need for additional data platforms, streamlining marketing efforts for cannabis retailers.

springbig (NASDAQ: SBIG) has launched a new integration with Flowhub, enhancing the checkout experience for dispensaries. This integration allows budtenders to redeem springbig rewards directly at the point of sale, simplifying reward tracking for customers. The Flowhub Maui™ platform, known for its efficiency, is over 20 times faster than its predecessor, facilitating better retail operations. This partnership aims to improve customer engagement and operational efficiency in the cannabis market, leveraging technology to boost profitability. Both companies focus on enhancing retail experiences through their collaborative efforts.

springbig (NASDAQ: SBIG) has launched a new integration with KORONA POS, a cloud-based point-of-sale solution. This bidirectional integration allows merchants to manage loyalty programs directly at checkout and enroll new members seamlessly. By leveraging KORONA POS's advanced sales data, springbig’s marketing platform offers targeted campaigns to enhance consumer engagement and retention. KORONA POS is designed for a wide range of businesses and supports regulatory compliance in the cannabis industry. The integration aims to improve the shopping experience and operational efficiency for both merchants and consumers.

SpringBig Holdings (NASDAQ: SBIG) announced that CEO Jeffrey Harris will present at the 2023 ICR Conference in Orlando, Florida, on January 10, 2023, at 2:00 pm ET. This event is pivotal for the company's visibility in the cannabis marketing space. Attendees can register through the conference website, and a live broadcast will be available on SpringBig's Investor Relations page. The presentation will later have an online replay for 90 days. SpringBig specializes in SaaS marketing solutions and loyalty programs for cannabis retailers, enhancing customer engagement and retention.

springbig (NASDAQ: SBIG), a leading provider of SaaS-based marketing solutions, was honored at the 2022 Miami Inno Fire Awards for its significant contributions to the cannabis marketing sector. The company achieved a 58% revenue growth in 2021, emphasizing its strong market demand. Recent partnerships include e-commerce loyalty collaborations with Olla and Kind+. springbig is recognized on multiple prestigious lists, including Inc. Magazine's fastest-growing companies. The awards event took place on December 1, 2022, at American Social in Miami.

SpringBig Holdings, Inc. (NASDAQ: SBIG) announced cost-cutting initiatives aimed at enhancing profitability. The measures include a 23% reduction in workforce, impacting 37 positions, alongside a one-time restructuring charge of approximately $0.2 million in Q4 2022. This is expected to result in a 21% decrease in annual operating expenses for 2023 compared to the first nine months of 2022. CEO Jeffrey Harris emphasized the goal of reaching positive EBITDA and accelerating revenue growth in the upcoming year.

SpringBig Holdings, Inc. (NASDAQ: SBIG) reported its third-quarter financial results for 2022, revealing total revenue of $7.4 million, a 22% year-over-year increase. Subscription revenue surged 48% compared to Q3 2021. Despite a net loss of $(3.5) million in adjusted EBITDA and a basic net income loss of $(0.12) per share, the company noted a strong net dollar retention rate of 119%. Looking ahead, SpringBig anticipates total revenue in the range of $27.0 - $28.0 million for 2022 and aims to achieve positive EBITDA in 2023.