Snipp Interactiv Stock Price, News & Analysis

Snipp Interactive Inc. (OTC PINK: SNIPF) reported Q3 2022 revenue of $7.94 million, a 47% increase from Q3 2021. Year-to-date revenue rose 60% to $17.62 million. Despite positive EBITDA of $280,540, down from $480,587 in the prior year, the gross margin fell to 34% from 39%. Bookings backlog increased 32% to $12.4 million. The Gambit Rewards platform now contributes 29% of revenue, up from 14% in the previous quarter. The company anticipates continued growth but notes margin pressures due to reinvestments in Gambit.

Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) will announce its fiscal 2022 third-quarter financial results on November 29, 2022, before market opening. The management will also conduct a conference call at 9:00 AM ET on the same day to discuss these results. Snipp, based in Vancouver, specializes in digital marketing promotions and loyalty solutions, utilizing its SnippCARE Platform to enhance customer engagement for Fortune 500 clients. The company is positioned in North America and has a comprehensive suite of tools including SnippCHECK and SnippLOYALTY.

Snipp Interactive Inc. (TSXV:SPN, OTC PINK:SNIPF) has expanded its partnership with a prominent global producer of cereal and convenience foods to include the European market. The company has licensed its SnippCARE platform for deployment in Germany, with initial launches anticipated soon. To date, total billings with this client have surpassed US $2.5 million. CEO Atul Sabharwal expressed optimism about further global market penetration, leveraging valuable data generated from North American operations.

Snipp Interactive Inc. (TSX-V:SPN, OTC PINK:SNIPF) announced its preliminary financial results for Q3 2022, marking the highest quarterly revenue in its history. Revenue is forecast to exceed $7.5 million, representing a remarkable 45% increase from Q3 2021. The company has maintained positive EBITDA for eleven consecutive quarters. Revenue for the first nine months of 2022 is projected to be over 55% higher than the same period in 2021. Snipp ended the quarter with over $5.5 million in cash, remaining debt-free.

Gambit Rewards, Inc. is expanding its partnership with Prodege, LLC to include Gambit gift cards in the consumer rewards programs MyPoints and InboxDollars. This follows the success of its collaboration with Swagbucks, which has seen over $10 million in Gambit gift card redemptions. Gambit specializes in free-to-play sports betting and iGaming gift cards. The company aims to tap into the significant market of unused loyalty points, which is estimated at US $100 billion. Gambit operates in 48 states and allows users to convert loyalty points into gaming tokens.

Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) has announced a USD 2 million renewal agreement with a leading American beverage company, facilitated by a top global research firm. This follows a year of successful deployment of the SnippREWARDS platform across nine countries, with further expansions planned. The SnippREWARDS platform is part of the broader SnippCARE Platform, designed for customer engagement and loyalty. Snipp has a robust rewards catalogue available globally, emphasizing its position as a leader in promotional solutions.

Snipp Interactive reported a remarkable 81% revenue growth for Q2 2022, amounting to $5,475,186 compared to $3,020,274 in Q2 2021. This marks the tenth consecutive quarter of positive EBITDA, although EBITDA decreased to $119,407 from $460,254 year-over-year. Gross margin dropped to 40% from 73% primarily due to the re-launch of the Gambit Rewards platform, which contributed 14% to total Q2 revenue. The company remains debt-free with around $7 million in cash and a bookings backlog of $11 million, reflecting a 16% increase year-over-year.

Snipp Interactive has announced the integration of personalized children's books from Manimal Tales into its Snipp Rewards platform. This partnership aims to enhance brand loyalty by offering unique rewards that resonate with children and parents. Customers can now create personalized books through purchase-based or loyalty programs, selecting from various titles or uploading personal photos. This innovative approach is expected to differentiate brands in a competitive marketplace and drive deeper customer engagement. Snipp's platform continues to evolve, catering to the needs of its clients.