Springbig Reports Q2 2023 Financial Results: $7.2M Revenue Up 12% YoY, CEO Pleased With 'Measured Growth'
Portfolio Pulse from Maureen Meehan
SpringBig Holdings, Inc. (NASDAQ: SBIG) reported Q2 2023 financial results, with revenue of $7.2 million, up 12% YoY. The company's subscription revenue was up 19% YoY, and the net dollar retention rate was 100%. The company's gross profit was $5.7 million, representing 24% YoY growth. The company's net loss was $2.0 million, compared to a loss of $2.6 million in the prior year. The company's CFO, Paul Sykes, stated that the company is moving towards profitability and expects to reach breakeven Adjusted EBITDA during Q3.
August 10, 2023 | 10:19 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
SpringBig Holdings reported positive Q2 2023 results, with increased revenues and reduced losses. The company is also moving towards profitability, which could positively impact its stock price.
SpringBig Holdings reported increased revenues and reduced losses for Q2 2023, indicating a positive financial performance. The company's move towards profitability, as stated by the CFO, could increase investor confidence and positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100