Cannabis-Focused Software Co. SpringBig Narrows Q2 Net Loss, Reports 8.3% YoY Drop In Revenue
Portfolio Pulse from Jelena Martinovic
SpringBig Holdings, Inc. (OTCQX:SBIG) reported a narrowed net loss for Q2 2024, with revenue totaling $6.6 million, an 8.3% YoY decline but a 2% QoQ increase. The company highlighted the traction of new offerings and reduced operating expenses by 36% YoY. Adjusted EBITDA turned positive at $0.3 million.
August 14, 2024 | 5:57 pm
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SpringBig Holdings reported a narrowed net loss for Q2 2024, with revenue of $6.6 million, an 8.3% YoY decline but a 2% QoQ increase. The company reduced operating expenses by 36% YoY and achieved a positive adjusted EBITDA of $0.3 million.
The positive adjusted EBITDA and reduced net loss are strong indicators of financial improvement. The traction of new offerings and reduced operating expenses further support a positive short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100