SpringBig Provides Q2 Preliminary Results, Expects To Be Adjusted EBITDA Positive In Q3
Portfolio Pulse from Nabaparna Bhattacharya
SpringBig Holdings, Inc. (NASDAQ:SBIG) has announced preliminary Q2 results, expecting a revenue of $7.2 million, a 12% YoY growth. The company also expects an adjusted EBITDA loss of $(1.1) million, an improvement from $(3.4) million last year. SpringBig also completed a $4 million public equity offering and restructured its Senior Secured Convertible Notes. The company expects to turn Adjusted EBITDA positive in Q3 and generate an Adjusted EBITDA profit of $0.5 million to $1.0 million for H2 FY23. SBIG shares are trading higher by 4.80%.
July 11, 2023 | 2:54 pm
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SpringBig Holdings expects improved Q2 results and to turn Adjusted EBITDA positive in Q3. The company also completed a $4 million public equity offering. SBIG shares are trading higher by 4.80%.
The company's expected improved Q2 results and positive outlook for Q3, along with the completion of a $4 million public equity offering, are likely contributing to the increase in SBIG's share price.
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