other material
confidence high
sentiment positive
materiality 0.70
SpringBig cuts 23% of workforce (37 positions) to reduce costs, targets positive EBITDA in 2023
SpringBig Holdings, Inc.
- Workforce reduction of 37 positions (23% of headcount) through layoffs and attrition.
- Expects annual operating expense run rate in 2023 ~21% less than annualized op ex for 9 months ended Sep 30, 2022.
- One-time cash restructuring charge of approximately $0.2M in Q4 2022.
- Management reiterates goal of positive EBITDA during 2023 and expects revenue acceleration next year.