Cannabis-Focused Software Co. Springbig Sees Slight Q1 Revenue Decline But Improves Net Loss, Keeps Full Year Financial Guidance
Portfolio Pulse from Rolando García
Springbig Holdings, Inc. (OTCQX:SBIG) reported a slight decline in Q1 2024 revenue but improved its net loss and achieved positive adjusted EBITDA for the first time. The company also announced the appointment of Mark Silver to its board and maintained its full-year financial guidance.
May 16, 2024 | 12:36 pm
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Springbig Holdings reported a slight decline in Q1 2024 revenue to $6.5 million but improved its net income to $417,000 from a loss of $2.3 million the previous year. The company achieved positive adjusted EBITDA for the first time and maintained its full-year financial guidance.
Despite a slight decline in revenue, Springbig's improved net income and positive adjusted EBITDA are positive indicators. The company's maintained full-year guidance and reduced operating expenses suggest a potential upward trend in stock price.
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