Snipp Interactiv Stock Price, News & Analysis

Snipp Interactive has successfully contributed to the Manitoba Chambers of Commerce's Tourism Rebate Incentive Program (TRIP), aiding over 10,000 Manitobans and generating more than 8,700 hotel room nights in just two weeks. The program, which provided 2,400 rebates for admission to attractions, will continue for an additional 18 days from August 26 to September 12, 2021. Snipp's involvement is projected to exceed CAN$ 2,000,000 in total contract value. The company has enabled a seamless rebate process, enhancing local tourism amid COVID-19 recovery efforts.

Snipp Interactive (OTC PINK:SNIPF) has secured a $425,000 loyalty contract with a Fortune 500 company, transitioning their existing ten-year program to Snipp's Customer Acquisition, Retention and Engagement (CARE) platform. This contract focuses on the client's frozen products at a single grocer in the Southern USA. Future contracts are anticipated to expand the program nationally. The Client will utilize Snipp's proprietary receipt processing for improved customer engagement, satisfaction, and insights.

Snipp Interactive Inc. (TSX-V:SPN, OTC PINK:SNIPF) reported an 8% revenue increase in Q1 2021, totaling $2.57 million, compared to $2.37 million in Q1 2020. Gross margin decreased to 68% from 73%.

Notably, EBITDA surged by 233% to $153,948, reinforcing five consecutive quarters of positive EBITDA. The bookings backlog reached $7.5 million, a 60% increase year-over-year, signaling strong future revenue potential. The company anticipates over 50% revenue growth in Q2 2021, indicating a promising year ahead.

Snipp Interactive has secured a contract exceeding CAD$ 2,000,000 with a Canadian province's Chambers of Commerce. This initiative aims to stimulate travel and boost local economic recovery as pandemic restrictions ease. The program is designed to encourage tourism through socially distanced outdoor activities during the summer. CEO Atul Sabharwal expressed optimism about leveraging this program as a model for similar initiatives across Canada and the US, highlighting the versatility of Snipp's platform.

Snipp Interactive Inc. (OTC PINK:SNIPF) reported financial results for Q4 2020 and the fiscal year ending December 31, 2020, demonstrating notable growth. Q4 revenue surged by 62% year-over-year to $2,180,860, with full-year revenue increasing by 1% to $8,692,274. The company achieved a gross margin of 75% in Q4 and 72% for the fiscal year. EBITDA improved significantly, rising 116% in Q4 and 128% for the year, marking a transition to positive EBITDA. Bookings backlog also increased by 49% to $6.7MM, indicating strong future revenue potential.

Snipp Interactive announces the appointment of three new members to its strategic advisory board: Derrick Horner, Tom Treanor, and Sumit Rastogi. Horner will focus on growth strategy and market identification; Treanor will aid in marketing and exposure; and Rastogi will enhance sales in Asia and the global research sector. The company granted 600,000 stock options to these advisors, vesting quarterly over two years at C$0.13 per share. CEO Atul Sabharwal emphasized the importance of these appointments for market expansion and upcoming financial results expected at month’s end.

Scienjoy Holding Corporation (NASDAQ:SJ) announced a strategic alliance with Snipp Interactive Inc. (TSX-V:SPN; OTC:SNIPF) on April 6, 2021. This partnership aims to integrate Snipp's C.A.R.E platform into Scienjoy's mobile applications. Key initiatives include developing a new rewards system that combines Scienjoy's in-app currency with Snipp's loyalty engine, enabling users to earn and redeem points for digital rewards. Additionally, broadcasters will be able to mint NFTs, fostering fan engagement and new monetization opportunities.

Snipp Interactive has partnered with Shiseido Canada to implement its Customer Acquisition, Retention, and Engagement platform. This partnership aims to enhance marketing effectiveness across Shiseido's portfolio, including brands like Dolce & Gabbana and Narciso Rodriguez. The platform will initially launch in Canada, providing Shiseido with advanced analytics and a unified view of marketing data. This collaboration highlights Snipp's role in helping brands achieve marketing objectives through its innovative technology.

Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF) announced preliminary unaudited Q4 2020 financial results indicating significant improvements. Q4 2020 EBITDA is expected to exceed $100,000, marking an increase of over 100% from the previous year, while revenue is projected to grow by over 50% to above $2 million. Gross margin is forecasted to rise above 70%, compared to 60% in Q4 2019. The company emphasizes its cost reduction efforts and a strong end to 2020 despite a revenue loss of over $1.5 million attributed to the pandemic, indicating a positive outlook for 2021.