---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-023237"
form_type: "8-K"
ticker: "SBIG"
cik: "0001801602"
company_name: "SpringBig Holdings, Inc."
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T01:06:13.420881+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-24-023237
- form_type: 8-K
- ticker: SBIG
- cik: 0001801602
- company_name: SpringBig Holdings, Inc.
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801602/000162828024023237/0001628280-24-023237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801602/000162828024023237/wdq-20240514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-023237
- JSON: https://secwatch.observer/filing/0001628280-24-023237.json
- Plain text: https://secwatch.observer/filing/0001628280-24-023237.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000162828024023237/0001628280-24-023237-index.htm
- Executive change
  Mark Silver was appointed as Director at SpringBig Holdings, Inc..
  - Action: appointed
  - Role: Director
  source text: On May 10, 2024, pursuant to the Nomination Agreement, the Board appointed Mark Silver as a Class I director of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000162828024023237/0001628280-24-023237-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.