Welcome to our dedicated page for Snipp Interactiv news (Ticker: SNIPF), a resource for investors and traders seeking the latest updates and insights on Snipp Interactiv stock.
Snipp Interactive Inc. (SNIPF) is a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector, and its news flow reflects activity across digital marketing promotions, rebates, and loyalty solutions. On this page, readers can review press releases and updates that the company has issued about client wins, contract extensions, product deployments, partnerships, and financial performance.
Recent news from Snipp highlights agreements and renewals with leading consumer packaged goods, food manufacturing, FMCG, and pet care brands. Announcements describe points-based loyalty programs, purchase-based promotional campaigns, and multi-brand rewards initiatives that use Snipp’s SnippCARE platform, SnippCHECK receipt processing, SnippLOYALTY engine, SnippREWARDS catalogue, and AI-powered fraud prevention tools. These stories provide insight into how brands are using receipt uploads, pack codes, and engagement activities to reward consumers and professionals, and how Snipp’s technology supports data collection, basket analysis, and program optimization.
Investors and observers can also find updates on Snipp’s Financial Media Network (FMN) and media partnerships, such as its collaboration with Inmar Intelligence to bring digital grocery incentives into consumer banking applications. Financial results releases, including quarterly updates, offer context on revenue trends, gross margin, EBITDA, bookings backlog, and deferred revenue, as well as commentary from management on operating conditions and platform momentum.
In addition, corporate governance and capital markets news, such as annual general and special meeting results or changes in market-making arrangements, appear in the company’s announcements. For anyone tracking SNIPF, this news page provides a centralized view of how Snipp’s loyalty, promotions, and media offerings are being adopted by clients and how the business is evolving over time.
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.
Snipp Interactive has announced a significant expansion of its SnippRewards platform with a new order from a top 5 global market research firm. Following a successful pilot program, Snipp will deploy its platform across 15 countries spanning 4 continents, with an anticipated annual contract value of USD 2 million to 3 million. The rollout includes 11 countries in Q1 2021 and 4 more by April 2021. Snipp's rewards platform now features over 1,325 brand rewards and conversations for future deployments with additional clients are underway.
Snipp Interactive achieved record sales bookings of US$4.88 million in Q4 2020, marking a 145% year-over-year increase. Annual bookings grew by 23.8%, driven by a diverse array of clients across multiple industries and new geographic markets, including the US, Canada, Europe, and Asia. The company introduced innovative features like cryptocurrency incentives and expanded its global reach with the SnippRewards platform. CEO Atul Sabharwal highlighted the resilience and strategic execution during the COVID-19 pandemic, setting a strong foundation for continued growth in 2021.
Snipp Interactive Inc. (OTC PINK:SNIPF) announces the launch of innovative rewards on its SnippRewards platform, introducing Bitcoin gift cards and stock ownership gifts. The Bitcoin gift cards allow customers to receive cryptocurrency easily, while stock ownership gifts enable clients to reward customers with fractional shares starting at $5. These offerings aim to capitalize on the growing interest in digital currencies and retail stock ownership, enhancing Snipp's appeal to a broader client base. The company continues to integrate with fintech partners, providing a diverse range of incentives.
Snipp Interactive has secured a three-year Master Services Agreement extension worth US $1,980,000 with a leading Fortune 500 client, enhancing its SnippCheck receipt processing solution. This extension, reflecting a 53% increase in contract value, allows for deeper data analytics and consumer insights, expanding beyond loyalty program uses. This relationship signifies Snipp's ongoing growth potential, having partnered with over 90 global clients by the end of 2020.
Snipp Interactive has successfully conducted its annual general meeting on December 3, 2020, where all proposed matters were approved by shareholders. Key outcomes include the re-election of directors and the appointment of Davidson & Company LLP as the auditor for the year. Additionally, Snipp announced the hiring of Mario Invernizzi as VP of Sales - EMEA to enhance growth in Europe, the Middle East, and Africa. The company also granted 1,500,000 stock options to board members and officers, exercisable at C$0.05.
Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) has successfully completed its first marketing campaign in Asia across Indonesia, Malaysia, Singapore, and the Philippines for a repeated Fortune 500 food manufacturer client. This initiative marks a significant milestone, as it is the first international deployment of Snipp's platform for this client. The average contract value with this client increased from over $600,000 to over $750,000 in 2020. Discussions are underway for a global deployment from 2021-2025, indicating potential revenue growth.
Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) has launched multiple pilot programs across various industries, including a major receipt validation program for a leading baby care brand, expanding from a successful US trial to the entire market. The company also completed pilots for a global research firm, exploring new markets, and is in late-stage discussions with utility companies for incentive-based programs, which could yield significant long-term contracts. These initiatives are crucial for Snipp’s growth strategy in 2021 and beyond.
Snipp Interactive Inc. (SNIPF) reported Q3 2020 financial results, showing a 141% increase in EBITDA, reaching $106,968, compared to a loss of $258,532 in Q3 2019. Revenue climbed by 6% year-over-year to $2,132,521. Although gross margin decreased to 73% from 77%, significant cost reductions were noted: salaries and compensation fell 14%, and general admin expenses decreased by 51%. Snipp has achieved positive EBITDA for three consecutive quarters and aims for continued revenue and EBITDA growth in Q4.
Snipp Interactive has secured approval from the TSX Venture Exchange for a shares-for-debt transaction, resolving $130,000 in indebtedness to related parties. This involved issuing 8,666,667 common shares at a price of $0.015 per share, effectively extinguishing the debt. The shares are subject to a four-month hold period and were issued under exemptions from certain regulatory requirements.
Snipp, headquartered in Vancouver, offers digital marketing promotions, rebates, and loyalty solutions, focusing on providing a comprehensive marketing technology platform.
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