Snipp Interactive Inc. reports news on its AI-powered SaaS and PaaS platform for shopper marketing, promotions, rebates, loyalty programs and purchase validation. Company updates commonly cover enterprise brand contracts, receipt-based loyalty programs, AI-enabled receipt processing, basket-level shopper insights and marketing attribution from advertising activity through verified purchase behavior.
Recurring developments also include IFRS financial results, bookings and margin commentary, brand and go-to-market positioning, shopper marketing technology publications, secured convertible debenture financing, shareholder meeting results, stock option plan approvals and other governance or capital-structure matters.
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.
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.