# SBIG earnings call intelligence LOPJLB CallCard / temporal rollup · freemium · [stock page](https://www.lopjlb.com/stock/SBIG) · [Earnings tab](https://www.lopjlb.com/stock/SBIG?tab=earnings) Updated: 2026-08-19T06:40:23 Quarters analyzed: 5 ## Latest CallCard · Q4 SpringBig posted 5% YoY revenue growth, narrowed adjusted EBITDA loss, secured $8M debt financing, and guided Q1 2024 revenue slightly lower with optimism on subscription and gift‑card initiatives despite macro and regulatory headwinds. **Guidance:** maintained — Guidance set for Q1 revenue $6.4‑$6.7M and FY24 revenue $29‑$32M with adjusted EBITDA profit targets of $0.2‑$0.4M (Q1) and $3.5‑$5.0M (FY). **Tone:** mgmt 0.7 · Q&A pressure 0.8 · divergence 0.4 SpringBig is in an excellent position and confident in its strategy and investments, highlighting positive EBITDA momentum and a stronger balance sheet. ### Demand visibility Demand faces macro headwinds but subscription growth and new products are expected to boost second‑half 2024. Management cited seasonality, tighter marketing budgets and client payment issues, while noting that subscription revenue grew 14% YoY and new VIP and gift‑card offerings should drive later‑year demand. ### Margins / costs Gross margin pressured by higher carrier messaging costs. Q4 gross margin fell to 70% as telecom operators raised costs; the company has been absorbing these costs but may pass some on while shifting to push notifications and email to protect margins. ### Capital allocation Debt financing and expense cuts strengthen the balance sheet. An $8M debt package was secured and prior convertible notes repurchased; operating expenses were cut 17% YoY, employee headcount reduced, and disciplined expense management continues. ### Milestones - **VIP subscription program** [on_track]: 13 clients expanded contracts, 6 launched VIP programs with >1,800 consumers; revenue expected to grow in H2 2024. - **Gift‑card payment option** [new]: Launched in Q4 2023; expected to generate meaningful revenue in the second half of 2024. - **Non‑cannabis vertical expansion** [new]: Started marketing and POS integration in alcohol/vape/CBD; 10 contracts generating modest revenue, optimism for growth. - **Prepayment model implementation** [delivered]: Transitioned smaller clients to prepay before usage effective Jan 2024, improving cash flow and budgeting. - **Push‑notification & email shift** [on_track]: ~40% of messages now via push or email to reduce carrier costs and improve margin. ### Fears / risks - **Macro environment**: Broader economic slowdown is compressing marketing budgets and digital spend for cannabis retailers. - **Regulatory uncertainty**: Potential rescheduling of cannabis from Schedule 1 to 3 and 280E tax issues remain unresolved. - **Client payment/churn**: Many clients face cash‑flow strain, leading to payment plans, service suspensions and higher churn. - **Margin pressure**: Higher telecom messaging costs are eroding gross margins, with uncertainty over future pass‑through. - **Reliance on new products**: Revenue growth hinges on adoption of VIP subscriptions and gift‑card offering. - **Industry concentration**: Heavy exposure to cannabis market, which has unique communication restrictions. - **Debt reliance**: Company’s stronger balance sheet depends on $8M financing and future access to capital. - **Competitive pressure**: Other loyalty and marketing platforms may compete for the same regulated retail clients. ### Key quotes > “I am happy to report that SpringBig is in an excellent position. We continue to execute on a sound strategy, and I am confident that we are making the right investments to both add value to our clients and at the same time, capturing the” > “We achieved our target of delivering positive adjusted EBITDA before the end of the fiscal year, with December being our first profitable month.” > “We added 396 new clients during the past year. So that's a nice average. And it is a fairly constant rate of between 30 to 35 clients added in each and every month during the year.” > “We're certainly excited about the next year and what's ahead of us, and we look forward to updating you with our progress as the year progresses.” — Paul Sykes ## Quarter one-liners - **2023 Q4:** SpringBig posted 5% YoY revenue growth, narrowed adjusted EBITDA loss, secured $8M debt financing, and guided Q1 2024 revenue slightly lower with optimism on subscription and gift‑card initiatives despite macro and regulatory headwinds. - **2023 Q3:** — - **2023 Q2:** SpringBig Q2: $7.2M rev (+12%), subs +19%, NRR 100%, 105 new cust; adj EBITDA loss $1.1M; FY23 guide $29-31M, EBITDA loss $1.5-2.5M, H2 positive EBITDA; launched Subscriptions by SpringBig. - **2023 Q1:** SpringBig posted Q1 revenue of $7.2M, up 16% YoY, with subscription revenue up 28%, EBITDA loss narrowed to $1.3M and reaffirmed FY guidance while launching new subscription and loyalty initiatives. - **2022 Q4:** SpringBig posted Q4 revenue slightly above guidance, saw 33% YoY subscription growth, added 80‑90 new retail clients per quarter, and outlined new loyalty, subscription and data products while targeting EBITDA breakeven in 2023. ## Guidance path 2022 Q4:maintained → 2023 Q1:maintained → 2023 Q2:maintained → 2023 Q3:vague → 2023 Q4:maintained --- Research context only. Not personalized investment advice. API: `GET /bff/api/bigfive/earnings-intel/SBIG`