The following is a summary of the SpringBig Holdings, Inc. (SBIG) Q4 2023 Earnings Call Transcript:

Financial Performance:

• SpringBig reported a 5% year-on-year revenue growth for 2023, despite market challenges.

• The company reduced its operating expenses by 17% for the year and 31% for Q4, and reached a positive adjusted EBITDA.

• The Q4 losses shrunk to $200,000 compared to the previous year's $3.2 million.

• Achieved a stronger balance sheet by securing $8 million in debt financing.

• Q4 revenue was $6.8 million, showing a 1% year-on-year growth.

• Adjusted EBITDA losses improved significantly, ending the year with a 71% reduction in loss.

Business Progress:

• 'Subscriptions by SpringBig,' a new feature for retail clients, was launched, and a gift-card payment option was initiated.

• They're expanding services to other regulated industries, including alcohol, vape, smoke, and CBD.

• The technology platform operates in over 2,900 retail locations, reaching 35 million consumers.

• For 2024, the priority will be managing expenses, expanding subscription revenue, and executing key initiatives.

• Subscription revenue, which constitutes 79% of the total 2023 revenue, experienced a 14% year-on-year growth.

• Lower guidance for Q1 2024 provided due to macroenvironmental challenges, however, growth is expected from the second half of 2024 onward.

• Projections for 2024 include total revenue between $29 and $32 million and an adjusted EBITDA profit between $3.5 and $5.0 million.

More details: SpringBig IR

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