Software Company Springbig Banks On Loyalty Programs, Reaps $28.1M Revenue, Shrinks Net Loss With EBITDA Revival
Portfolio Pulse from Nicolás Jose Rodriguez
Springbig (OTC:SBIG), a SaaS-based marketing solutions and loyalty programs provider, reported a Q4 revenue of $6.8 million, marking a 1% year-on-year growth. The company saw a 10% rise in subscription revenue, with a gross margin of 70%. The net loss improved to $3.2 million from $4.5 million the previous year. For 2023, Springbig's revenue was $28.1 million, a 5% increase from 2022, with subscription services driving growth. The company anticipates 2024 revenues between $29 to $32 million and a positive Adjusted EBITDA of $3.5 to $5.0 million.

March 12, 2024 | 10:22 pm
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Springbig reported a modest revenue growth and significant improvement in net loss for Q4 and the full year of 2023. With an $8 million debt financing, the company is optimistic about 2024, expecting higher revenues and a positive Adjusted EBITDA.
Springbig's reported revenue growth and the significant reduction in net loss, coupled with successful debt financing, indicate a strong financial recovery and operational efficiency. These factors are likely to positively influence investor sentiment and the stock's short-term performance.
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RELEVANCE 100