secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001628280-24-023237
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000162828024023237/0001628280-24-023237-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000162828024023237/wdq-20240514.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-023237

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer