Springbig posts first positive adjusted EBITDA in Q1 2024; appoints Mark Silver to board

SpringBig Holdings, Inc.

Revenue $6.5M vs $7.2M YoY; subscription revenue $5.4M (83% of total).
Adjusted EBITDA positive $0.2M vs loss $1.3M a year ago; sixth consecutive quarterly improvement.
Operating expenses cut 34% YoY to $5.0M; net income $0.4M (incl. $1.6M debt repurchase gain).
Completed $8M debt financing in Jan; used $2.9M to repurchase existing notes due 2025.
Mark Silver, founder of Direct Energy and CEO of Eddy Smart Home Solutions, appointed Class I director.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

Mark Silver

Director

SBIG · SpringBig Holdings, Inc.

Effective: 2024-05-10
Filed: May 14, 2024, 7:59 PM ET

On May 10, 2024, pursuant to the Nomination Agreement, the Board appointed Mark Silver as a Class I director of the Board.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SpringBig Holdings, Inc. reported the first quarter ended March 31, 2024 results: revenue $6.5 million, net income $0.4 million, EPS $0.01. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $6.5 million
Net income: $0.4 million
EPS: $0.01
Guidance: raised
Result: reported results

Exact text from the filing

by 34% year-on- year and expect a continuing positive trend in our Adjusted EBITDA* margins as the year progresses.” First Quarter 2023 Financial Highlights: ● Revenue was $6.5 million, compared to $7.2 million in the prior year. ● Subscription revenue represents 83% of total revenue at $5.4 million, compared to $5.7 million in the prior year. ● Gross profit

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Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Silver was appointed as Director at SpringBig Holdings, Inc..

Action: appointed
Role: Director

Exact text from the filing

On May 10, 2024, pursuant to the Nomination Agreement, the Board appointed Mark Silver as a Class I director of the Board.

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SpringBig Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-023237

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