SpringBig Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:26 pm EDT
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SpringBig Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 7.21 million compared to USD 6.45 million a year ago. Net loss was USD 2.03 million compared to USD 2.61 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.14 a year ago.
For the six months, sales was USD 14.37 million compared to USD 12.63 million a year ago. Net loss was USD 4.29 million compared to USD 5.48 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.29 a year ago.
SpringBig Holdings, Inc. is a provider of software platform to cannabis retailers and brands, providing data-driven loyalty, marketing and consumer buying experience solutions throughout the U.S. and Canada. The Company's platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailersâ and brandsâ customer engagement and retention. Its data solutions are purpose-built for the cannabis industry. It offers marketing automation solutions that provide for consistency in customer communication, thereby driving customer retention and retail foot traffic. In addition, the Company's reporting and analytics offerings deliver insights that clients utilize to understand their customer base, purchasing habits and trends. The Company serves approximately 1,300 brand and retailer clients across approximately 2,600 distinct retail locations in North America.