secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001628280-24-010590
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Springbig reports FY2023 revenue $28.1M, net loss narrows to $10.2M; expects positive adjusted EBITDA in 2024
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- FY2023 revenue $28.1M (+5% YoY); subscription revenue $22.3M (+14%), now 79% of total revenue.
- Net loss narrowed to $10.2M (from $13.1M); adjusted EBITDA loss improved to $3.6M (from $12.6M).
- Added 396 new clients in 2023 with $3.4M annualized subscription value; launched subscriptions and gift cards by Springbig.
- Completed $8M debt financing in Jan 2024: $5.4M of 8% convertible notes due 2026 and $1.6M term loan.
- Q1 2024 outlook: revenue $6.4-6.7M, adjusted EBITDA positive $0.2-0.4M; FY2024 rev $29-32M, adj EBITDA $3.5-5.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000162828024010590/0001628280-24-010590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000162828024010590/wdq-20240312.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-010590

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