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. 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 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.