Springbig Holdings Inc (NASDAQ: SBIG) is an exciting NASDAQ Company hovering right under $1 and trading at microscopic valuation of just $20 million. Springbig, a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry continues to see rapid growth in revenues and is expanding its industry leading platform into dynamic new industries. Adding fuel to the fire is the fact that SBIG currently trades a fraction of its $6 IPO price from just a year ago and the CEO and Chairman of Springbig, Jeffrey Harris has been quietly purchasing more stock at recent price levels recently acquiring another 60,000 shares. SBIG shares recently fell below $1 as the Cannabis industry markets experienced industry specific headwinds. However, SBIG has been steadily rising in 2023 following an acceleration in top line growth resulting in record Q3 results and a new milestone of positive EBITDA being reached during fiscal 2023.  

During Q3, Springbig beat expectation by 6.5% and 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 during 2023 and adding to the expectation of a more than stellar Q4 and fiscal 2022 result coming next week on March 9 after the close. The Company will also host a conference call to discuss the financial results the same day at 5:00 p.m. ET. Participants can register at this link to receive a dial-in number and unique PIN. The webcast will be archived for one year following the conference call and can be accessed on Springbig’s investor relations website at https://investors.springbig.com/. According to SBIG revenues in fiscal 2022 are expected to come in at $27 to $28 million. We will be updating on SBIG when more details emerge so make sure you are subscribed to wwallstreet.com by entering your email below.

Springbig Holdings Inc (NASDAQ: SBIG) is the only marketing platform designed specifically for businesses in regulated industries. The Company’s platform has all the features you need to comply with the CTIA’s SHAFT regulations as well as the standard TCPA and 10DLC requirements.  SBIG went public at $6 per share on NASDAQ in late 2021 and is led by seasoned professionals with experience as principal investors, investment advisors, and entrepreneurs.

While Springbig platform is expandable into multiple dynamic industries the Company started off as a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry 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 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 believes the normalization of cannabis and its many uses and applications—in social consumption, pharmaceuticals, health and wellness and industrial raw materials and fiber—is creating a rarely seen opportunity to invest in related businesses. At the same time, the cannabis industry is highly fragmented and subject to a complex regulatory framework, creating significant barriers to entry. As the industry continues to transition to a new legal and regulatory landscape, we believe that many companies will need a partner that can assist in providing a level of operational and financial expertise to support their growth. The Company’s team includes a variety of investment, operational, healthcare and consumer professionals who will be able to provide operating, technical, regulatory and legal expertise to assist a target business with efficient access to and deployment of its capital most effectively. 

Springbig revenues and financial growth has been rapid and continues to accelerate; in November the Company reported financial results for the second quarter ended September 30, 2022, reporting 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. At the time of their Q3 filing Springbig stated they expect revenues in the range of $27.0 – $28.0 million, representing 14% year-over-year growth in fiscal 2022. For fiscal year 2023, Springbig expects an acceleration in top line growth, with the milestone of positive EBITDA being reached during fiscal 2023. 

Furthering speculation of stellar Q4 financial performance is the Company’s initiatives to reduce costs and drive efficiency in order to accelerate its path to profitability implemented at the end of Q3. According to the Company’s management; the steps are expected to result in approximately 21% less than annualized operating expenses incurred for the nine months ended September 30, 2022, shortening the timeline to Springbig’s goal of positive EBITDA during 2023. 

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. 

The CEO of SpringBig quietly purchased 60,000 shares of $SBIG. Big investors have been buying loads of shares of this ancillary pot stock within the last few months. It could blast like a rocket very soon. #PotStocks #cannabisindustry $GME $AMC #Memes pic.twitter.com/sRpIEurgim

— Steven Hinkes (@StevenHinkes) March 2, 2023

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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. 

On February 23 SBIG debuted its new logo and added two marketing features to its suite of marketing solutions. 

Springbig began as a scrappy start-up with a passion for helping small businesses build meaningful relationships with their customers. Years later, the Company has evolved into an innovative marketing and loyalty technology enterprise. The Company’s new logo highlights springbig’s growth and reaffirms its commitment to helping businesses cultivate rewarding connections with their customers; while the Company’s new brand identity, the springbig Bolt, exemplifies the brand’s evolution as a leader in SaaS-based marketing solutions built to energize a business’s audience and hypercharge their engagement with high-value customers. 

Springbig has also added two marketing features to its renowned suite of solutions: Build Your Own Audience and Compare Campaigns. Build Your Own Audience was created at the intersection of customer segmentation and data-driven marketing and expands the Company’s platform to meet the diverse needs of dispensary owners across North America. The chief cannabis customer data platform enables merchants to gather key details about, and create important KPIs for, a specific audience. Merchants can use this information to create relevant and targeted marketing campaigns and send offers to finely-tuned customer segments. The implementation of this one-of-a-kind marketing solution will boost the marketing tactics of forward-thinking dispensaries and provide personalized campaigns that upgrade the consumer experience for each customer. 

Compare Campaigns allows merchants to compare up to four of their previous campaigns side-by-side, allowing for a/b testing and further analysis. By using this feature, merchants will have the information needed to easily create and develop highly targeted and effective campaigns. The Build Your Own Audience and Compare Campaigns features are two of the many tools that Springbig has introduced. Previously, the Company added Member Offers, Campaign Caddie and Email Marketing Engines to its suite of business solutions. Each tool creates more sophisticated and tailored marketing campaigns for springbig customers. The Company’s continued effort to elevate marketing campaigns secured Springbig a place on Deloitte’s list of the 500 fastest-growing companies of 2022. Springbig was recognized for its ability to help cannabis companies work smarter and more efficiently, paving the way to continued economic growth. 

In Q3 Springbig revenues exceeded analyst estimates by 6.5% and earnings per share (EPS) also surpassed analyst estimates by 25%. On the record Q3 results CEO and Chairman of Springbig, Jeffrey Harris stated: “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 📰 springbig Announces Date of Fourth Quarter and Full Year 2022 Financial Results Releasehttps://t.co/AVk49rssuL

45 seconds delayed.

— Quantisnow (@quantisnow) February 23, 2023

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Currently trading at a $20 million market valuation based on 26,211,914 shares issued and outstanding, Springbig has $14.9 million in assets including $6.8 million in cash in the treasury and $4.7 million in accounts receivable vs. $14.8 million in liabilities. The Company continues to see rapid growth in revenues beating Q3 expectation by 6.5% and implementing cost cutting measures that are expected to result in approximately 21% less than annualized operating expenses incurred for the nine months ended September 30, 2022, shortening the timeline to Springbig’s goal of positive EBITDA during 2023 and adding to the expectation of a more than stellar Q4 and fiscal 2022 result coming next week. Currently right under $1 SBIG management has plenty of incentives to get the stock price up and if they continue to beat expectations as they have been, SBIG stock should start to recover. The stock was trading over $6 just a year ago and there is a reason the CEO is buying at these levels. We will be updating on SBIG when more details emerge so make sure you are subscribed to wwallstreet.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.