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SpringBig Holdings Inc - SBIGW STOCK NEWS

Welcome to our dedicated news page for SpringBig Holdings (Ticker: SBIGW), a resource for investors and traders seeking the latest updates and insights on SpringBig Holdings.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SpringBig Holdings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SpringBig Holdings's position in the market.

Rhea-AI Summary
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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Rhea-AI Summary
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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4%
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Rhea-AI Summary
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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-20%
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earnings
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Rhea-AI Summary
springbig, a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs, will report its Q3 2023 results on November 13, 2023. The company will host a conference call at 5:00 p.m. ET on the same day.
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1.43%
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SpringBig Holdings, Inc. (NASDAQ: SBIG) expects its securities to be delisted from Nasdaq and quoted on the OTCQX® Best Market starting September 6, 2023. The delisting is due to non-compliance with Nasdaq listing requirements. The transition to OTCQX is expected to reduce costs and complexities. The CFO anticipates generating positive adjusted EBITDA for the second half of the fiscal year. Three directors have resigned from the board, and the board will now consist of Sergey Sherman, Phil Schwarz, Jon Trauben, and Jeffrey Harris.
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SpringBig Holdings, Inc. (NASDAQ: SBIG) announced its financial results for Q2 2023. Revenue increased to $7.2 million, up 12% YoY. Subscription revenue was up 19% YoY. Gross profit was $5.7 million, representing 24% YoY growth and a margin of 79%. Net loss was $(2.0) million. Adjusted EBITDA loss was $(1.1) million. Half-year revenue increased to $14.4 million, a 14% increase from the prior year. Subscription revenue was $11.4 million, a YoY increase of 23%. Gross profit was $11.5 million, representing 26% YoY growth and a margin of 80%. Net loss was $(4.3) million. Adjusted EBITDA loss was $(2.5) million.
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0.75%
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Rhea-AI Summary
springbig launches Campaign Follow-Ups feature, improving ROI performance of marketing campaigns.
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0.36%
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Rhea-AI Summary
springbig (NASDAQ: SBIG) will report its Q2 2023 results on August 10th, 2023. The company offers SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry.
Rhea-AI Impact
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-7.69%
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conferences earnings
Rhea-AI Summary
springbig, a leading provider of SaaS-based marketing solutions, has released its Subscription Loyalty Service. Oasis Cannabis, a retailer in Las Vegas, has seen success with the service, welcoming 117 new subscribers and recording a 42.1% increase in visits per subscriber since July 1st. Subscribers have visited Oasis Cannabis an additional time each month and their total spend has increased by 30% on average on the first visit and 27% across all visits. Oasis Cannabis has recorded 339 subscriber visits and earned over $22,000 in subscriber revenue. The Subscription Loyalty Service offers retailers the ability to customize subscription rates, implement free trial periods, and design subscription tiers.
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Rhea-AI Sentiment
End-of-Day
-13.33%
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SpringBig Holdings Inc

OTC:SBIGW

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