Springbig Holdings Inc (NASDAQ: SBIG) is trading in a tight channel between $0.90 and $1 as the Company is set to report its Q4 and Fiscal 2022 earnings at the market close on Thursday. The Company will also be hosting a conference call to discuss the financial results at 5pm Eastern. SBIG has been getting noticed by investors as the Company continues to see rapid growth in revenues and is projecting fiscal 2022 revenues to come in around $27 or $28 million. The Company will also participate in a fireside chat at the 35th Annual Roth Conference to be held at the Ritz Carlton, Laguna Niguel in Dana Point, California from March 12-14, 2023, with Jeffrey Harris, CEO and Founder, and Paul Sykes, CFO.
SBIG recently implemented cost cutting measures that are expected to result in approximately 21% less than annualized operating expenses incurred during 2022, shortening the timeline to Springbig’s goal of positive EBITDA this year. The Company beat expectations by 6.5% in Q3 and judging by the recent action in the stock price leading up to Thursday, investors are speculating on even better Q4 and fiscal results. Also recently, the CEO of Springbig, Jeffrey Harris quietly purchased more stock at recent price levels, acquiring another 60,000 shares. SBIG has been on the move recently, running from the $0.70s range to over $1 per share.
Springbig Holdings Inc (NASDAQ: SBIG) operating out of Boca Raton, Florida is a market-leading software platform providing customer loyalty and marketing automation solutions to cannabis retailers and brands in the U.S. and Canada. springbig’s platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers’ and brands’ customer engagement and retention. springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, springbig’s reporting and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends.
Springbig is no newcomer to loyalty marketing, our founders have over 20 years of experience in creating loyalty rewards programs for retail businesses. In fact, they were some of the original pioneers of retail loyalty marketing. CEO, Jeffrey Harris founded InteQ over 20 years ago, a company that took loyalty marketing from simple punch card programs in coffee shops to technologically advanced marketing tools at the forefront of some of the country’s biggest companies. Companies like Adidas, Reebok, and Citi Bank. After years of experience in big-box retail, our founders saw tremendous opportunity in the underserved cannabis industry and decided to bring advanced loyalty programs, an essential marketing tool in such a competitive industry, to cannabis dispensaries and brands.
The Company is already doing big numbers; On November 14 SBIG reported its financial results for the second quarter ended September 30, 2022. Total revenue in the third quarter of 2022 increased to $7.4 million, up 22% from the third quarter of 2021 and up 13% from the second quarter of 2022. Subscription revenue increased 48% from the third quarter of 2021 and was up 9% from the second quarter of 2022. Net dollar retention rate was 119%, versus 85% in the year ago period and 114% in the second quarter of 2022. Adjusted EBITDA loss for the third quarter was $(3.5) million as compared to a loss of $(1.2) million from the prior year period. Basic net income loss per share was $(0.12) based on 25.6 million weighted average shares outstanding. The shares outstanding as at September 30, 2022 were 26.2 million.
SBIG CEO Jeffrey Harris stated at the time: “Our third quarter results reinforce my view that we are widening the gap as the leading technology loyalty platform across the cannabis sector. Acknowledging that cannabis end-markets are experiencing industry specific headwinds, it’s absolutely clear to me that our growth trajectory is intact as we continue to leverage the network effect flywheel between retailers and brands, and that we are making the right investments to capture the long-term opportunity in front of us.”
$SBIG had a really nice day. This is just the beginning. Looking at this as a swing trade with potential hold time of a few weeks. CEO has been buying stock in the open market. That is a great sign. pic.twitter.com/WykSLSph5S
— Small Cap Corner (@SmallCapCorner) March 6, 2023
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Dispensary loyalty programs – loyalty rewards programs are the most effective way to build customer loyalty, increase foot traffic, and boost sales for cannabis dispensaries. By rewarding customers with points for every purchase, you’re guaranteed to increase customer retention, keep customers satisfied and turn one-time shoppers into your most loyal customers.
Dispensary text message marketing – dispensary text message marketing is the easiest and most cost-effective marketing channel for cannabis businesses to advertise to potential customers. By using our FCC compliant dispensary marketing tools to gain insights into each of their customer personas, cannabis businesses are able to better target their customers and personalize their experiences for better results and guaranteed ROI.
Cannabis CRM – our cannabis CRM gives you the unique data points required to operate a cannabis dispensary that non-cannabis CRM systems simply can’t provide. When used with our dispensary loyalty rewards & text message marketing platform, it becomes as simple as a few clicks to create targeted dispensary marketing campaigns based on real-time data insights into your inventory.
Cannabis advertising network brands by Springbig is an advertising network unique to the cannabis industry that connects cannabis brands directly to consumers by giving your cannabis brand already on the shelves the ability to send sponsored text message marketing campaigns through Springbig’s network of retail cannabis businesses.
Dispensary referral program software leverage word-of-mouth advertising by generating unique trackable links that your champion customers can share with their friends, family, and followers, on social media and of course sms, rewarding them for referring new customers to your dispensary and more importantly – buying your products.
Big hedge funds in the US and Canada are starting to go long on #PotStocks. They know the “muscle memory” of these plays could mean huge upside down the road. One ancillary pot stock that is gaining a lot of attention lately is $SBIG. #cannabisindustry pic.twitter.com/PLV69ddZ6w
— Steven Hinkes (@StevenHinkes) March 9, 2023
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Currently trading at a $23 million market valuation SBIG os is 26,211,914 shares issued and outstanding. Trading on the NASDAQ and once again over $1 SBIG has a strong balance sheet with $14.9 million in assets and $6.9 million cash in the treasury and $14.8 million in liabilities. SBIG is an exciting story developing in small caps; the Company is set to report its Q4 and Fiscal 2022 earnings at the market close on Thursday. The Company will also be hosting a conference call to discuss the financial results at 5pm Eastern. SBIG has been getting noticed by investors as the Company continues to see rapid growth in revenues and is projecting fiscal 2022 revenues to come in around $27 or $28 million. SBIG recently implemented cost cutting measures that are expected to result in approximately 21% less than annualized operating expenses incurred during 2022, shortening the timeline to Springbig’s goal of positive EBITDA this year. The Company beat expectations by 6.5% in Q3 and judging by the recent action in the stock price leading up to Thursday, investors are speculating on even better Q4 and fiscal results. Also recently, the CEO of Springbig, Jeffrey Harris quietly purchased more stock at recent price levels, acquiring another 60,000 shares. SBIG has been on the move recently, running from the $0.70 range to over $1 per share. We will be updating on SBIG when more details emerge so make sure you are subscribed to fiveminutepennystocks.com by entering your email below.
Disclosure: we hold no position in SBIG either long or short and we have not been compensated for this article.