Cannabis-Focused Software Co. Springbig Sees Slight Q1 Revenue Decline But Improves Net Loss, Keeps Full Year Financial Guidance
Florida-based software and cannabis marketing company Springbig Holdings, Inc. (OTCQX:SBIG) released its first quarter 2024 financial figures and announced the appointment to the board of Mark Silver, president of Optus Capital Corporation and a key player in the company’s January debt refinancing.
Paul Sykes, CFO, remarked on achieving a positive adjusted EBITDA for the first time at $150,000, compared to a loss of $1.3 million in the prior year, and debt financing:
“After completing our $8 million debt financing in January, we have a much stronger and cleaner balance sheet,” Sykes said. “We continue to manage the optimization of our operating expenses, which have reduced by 34% year-on-year, and expect a continuing positive trend in our Adjusted EBITDA margins as the year progresses.”
Key Financial Figures
- Revenue: Q1 2024 revenue of …
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