Snipp Interactiv Stock Price, News & Analysis

Snipp Interactive Inc. (SNIPF) reported substantial financial results for Q4 2021 and Fiscal 2021. Q4 revenue surged by 96% to $4.3 million, with EBITDA increasing by 350% to $0.7 million. Fiscal 2021 revenue totaled $15.3 million, up 76%, while net income reached $2.1 million compared to a net loss of $1.3 million in 2020. Gross margins slightly decreased from 75% to 63% in Q4 and from 72% to 57% for the fiscal year. The company’s bookings backlog stood at $10.9 million, a 63% increase. Dr. Niamh O Riordan was promoted to COO, highlighting the company’s commitment to growth and operational excellence.

Snipp Interactive Inc. has successfully closed a non-brokered private placement with Bally's Corporation, issuing 25 million shares at US$0.20 each, raising gross proceeds of US$5 million. The funds will support sales, marketing, and general working capital. Additionally, Snipp and Bally's entered into two commercial agreements. The securities will have a hold period until August 15, 2022. This strategic partnership aims to enhance Snipp's offerings in digital marketing and loyalty solutions.

Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) has announced a $5 million investment from Bally's Corporation (NYSE: BALY), which will entitle Bally's to nominate a director to Snipp's board and grant them a right of first refusal on asset sales. This investment will result in Bally's owning approximately 9% of Snipp's shares. The two companies will also enter into commercial agreements, making Bally's the exclusive gaming partner for Snipp's loyalty gaming platform, Gambit. Deployment of SnippLOYALTY software across Bally's properties is set to begin in Q2 2022.

Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF) reported a historic first quarter in 2022, achieving total sales bookings exceeding USD $4.5 million. Notably, over 40% of these bookings originated from new markets beyond traditional Consumer Packaged Goods (CPG) clients. The company's bookings backlog rose over 30% year-over-year to more than USD $10 million. Snipp anticipates significant revenue growth compared to the prior year and expects to maintain positive EBITDA. CEO Atul Sabharwal highlighted the impact of new customer wins and the company's strategy in expanding into various industries.

Snipp Interactive Inc. (OTC PINK: SNIPF) announces that its Gambit Rewards division has been shortlisted for the 2022 International Loyalty Awards in the category of Best Loyalty Industry Innovation. This recognition reflects Gambit's innovative approach to gamifying loyalty programs by allowing users to convert loyalty points into Gambit Play Tokens for online gaming and sports betting without real money risk. Launched in 2019, Gambit has positioned itself to access the estimated US$100B of unused loyalty points in America, enhancing engagement in the growing online gaming sector.

Snipp Interactive (OTC PINK: SNIPF) has completed its acquisition of Gambit Digital Promotions for US$5 million, integrating loyalty programs with online gaming and sports betting. Gambit’s platform allows users to convert loyalty points into free-to-play tokens, tapping into a US$60B+ online gaming market. This acquisition is expected to create new revenue opportunities through Snipp's SnippCARE platform. Gambit has also seen increased interest in partnerships since joining Snipp, indicating strong market potential in iGaming and sports betting.

Snipp Interactive Inc. (TSX-V:SPN; OTC PINK:SNIPF) has launched its first promotion for Gambit Rewards Inc., a significant player in North America's gaming sector. The promotion, exclusive to New York residents, offers 1,000 free Gambit Tokens and up to $1,500 in cash bonuses. Snipp's SnippCARE platform powers the pilot, aimed at refining future operations across permitted states. With the pending acquisition of Gambit, Snipp plans to deepen integration with their platform, leveraging loyalty points for engaging online gaming experiences.

Snipp Interactive (TSXV:SPN, OTC PINK:SNIPF) reported preliminary unaudited Q4 2021 financial results, showcasing significant growth. EBITDA surged over 300% year-over-year to exceed $700,000, while revenue doubled to over $4,000,000. The gross margin remained robust above 60%. Furthermore, the bookings backlog reached a record of over $10,000,000. The company continues to expand, securing contracts with Fortune 50 companies and completing SOC Type 1 certification.

Snipp Interactive (OTC PINK:SNIPF) announced a binding acquisition of Gambit Digital Promotions for US$5 million, with US$0.3 million in cash and US$4.7 million in stock. This strategic acquisition connects Snipp to the US$60 billion online gaming market, leveraging Gambit's platform that converts unused loyalty points into gaming tokens. This move is expected to unlock US$100 billion in loyalty points, enhancing customer engagement in iGaming. The acquisition is subject to regulatory approvals, with closing expected soon. Key leaders from both companies will discuss the acquisition at the ICR Conference today.