Wed, May 14, 10:06 AM (33 days ago)
**SpringBig Holdings, Inc. (SBIG) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $5.52 million, down 14% YoY due to economic conditions affecting the cannabis sector. - **Profit Margins:** Gross profit margin improved to 78% from 73% YoY. - **Net Income:** Reported a net loss of $0.75 million, compared to a net income of $0.42 million in Q1 2024. - **Cash Flow:** Negative operating cash flow of $0.09 million, an improvement from -$1.88 million in Q1 2024. - **Liquidity:** $1.09 million in cash and cash equivalents, with a working capital deficit of $2.02 million. **Key Metrics & Trends:** - **Customer Base:** 900 retail clients, down from 1,207 in Q1 2024. - **Message Volume:** 133 million messages sent, down from 140 million in Q1 2024. - **Net Revenue Retention:** 86%, down from 89% in Q1 2024. - **Adjusted EBITDA:** Positive at $0.33 million, up from $0.15 million in Q1 2024. **Uncertainties & Future Operations:** - **Economic Sensitivity:** Revenue growth is tied to consumer spending and cannabis market conditions. - **Regulatory Environment:** Potential growth opportunities with cannabis legalization and federal regulation changes. - **Competition:** Intensifying competition as the cannabis market matures. - **Brand Reputation:** High visibility increases susceptibility to negative publicity. - **Liquidity Needs:** May require additional financing to support operations and growth. **Notable Events:** - CEO transition: Jeffrey Harris stepped down, and Jaret Christopher was appointed as the new CEO. - Acquisition: Intent to acquire VICE CRM, an AI-enabled performance marketing platform. - Debt Amendments: Extended maturity dates and adjusted interest rates for 2024 Secured Term Notes and 2024 Secured Convertible Notes. **Ticker:** SBIG **Industry:** Technology, Software as a Service (SaaS) **Market:** Cannabis industry marketing and customer engagement solutions.