Star Metro - Snipp Interactive Reports Financial Results for Q4 And Fiscal 2024, Announces Conference Call on May 20, 2025, And Management Changes

The Company also announces conference call details for investors taking place on Tuesday, May 20, 2025 at 10:00am Eastern Time (US) to discuss the Company's recent financial results and plans for the year.

The conference call will be available via the following weblink or dial-in options.

Weblink: https://v.ringcentral.com/join/334112632

for meeting ID 334112632

Dial-in: for parties in the United States dial +1-650-419-1505 and parties in Canada dial +1-437-800-0918, and then enter Meeting ID: 334112632

Parties joining from other locations can refer to additional dial-in numbers based on your location listed at the following website and use the same Meeting ID referenced above: https://v.ringcentral.com/teleconference

Highlights

(Refer to Non-GAAP Measures, EBITDA, Gross Margin and Bookings Backlog discussion below)

• Revenue for Fiscal 2024 totaled $22.73 million.

  • On an adjusted basis Revenue grew 22% in 2024 when removing the impact in 2023 of a single legacy contract that the company inherited as part of an acquisition.

• Revenue for Q4 2024 totaled $6.67 million.

  • On an adjusted basis Q4 Revenue grew 19% in 2024 when removing the impact in 2023 of a single legacy contract that the company inherited as part of an acquisition.

• Gross margin in Fiscal 2024 was 61%, as compared to 31% in Fiscal 2023. Gross margin in Q4 2024 was 62%, as compared to 39% in Q4 2023.

• EBITDA in Fiscal 2024 totaled $703,494, compared to negative EBITDA of ($1,908,355) in Fiscal 2023, which represents an increase of $2,611,849.

• EBITDA in Q4 2024 totaled $582,628, compared to $31,566 in Q4 2023.

• Bookings Backlog (programs that have been sold, but whose revenues have not yet been recognized) stood at $17.7 million at December 31, 2024, compared to $13.6 million at December 31, 2023, which represents an increase of 30%.

• Cash at the end of 2024 stood at $3.7 million, with accounts receivable at $3.4 million. The company continues to be debt free.

"2024 was a transformational year for Snipp as we repositioned the business toward scalable, higher-margin revenue streams which culminated in strong EBITDA performance during the 4^th quarter. We saw strong execution across our core platform, deepened relationships with global brands and secured the first major contract because of our SnippMEDIA Financial Media Network. With improving margins, expanding international traction, and continued investment in our team and technology, we enter 2025 with strong momentum and a clear path toward sustained, profitable growth," said Atul Sabharwal, Founder & CEO of Snipp Interactive.

The Company also announces that Malcolm Davidson has been appointed Interim CFO, replacing Richard Pistelli who was Interim CFO. Mr. Davidson is an accomplished and proactive Chartered Professional Accountant with a remarkable career exceeding 20 years in financial reporting and the finance industry. He has a proven track record as Chief Financial Officer in various public mining and technology firms, complemented by extensive international experience. The Company thanks Mr. Pistelli for his contributions and wishes him well in his future endeavors.

The Company plans to immediately apply for a revocation of the FFCTO that it received in connection with the delayed filings of its audited financial statements for the fiscal year ended December 31, 2024. As specified in its press release dated May 2, 2025, it has received the imposition of a Failure to File Cease Trade Order ("FFCTO") issued by the British Columbia Securities Commission effective as of May 8, 2025.

Non-GAAP Measures

Snipp uses certain performance measures throughout this document that are not recognizable under Canadian generally accepted accounting principles or IFRS ("GAAP"). These performance measures include Gross Margin and EBITDA. Management believes that these measures provide supplemental financial information that is useful in the evaluation of the Company's operations.

Investors should be cautioned, however, that these measures should not be construed as alternatives to measures determined in accordance with GAAP and IFRS as an indicator of Snipp's performance. The Company's method of calculating these measures may differ from that of other organizations, and accordingly, these may not be comparable.

EBITDA

Snipp defines earnings before interest, taxes, depreciation and amortization ("EBITDA") as revenue minus operating expenses excluding non-cash operating expenses of share-based payments, depreciation and amortization (interest and taxes are not included in the Company's operating expenses).

Gross Margin

Snipp defines Gross Margin as revenue less campaign infrastructure. The Company's calculation of Gross Margin is not a financial measure that is recognized under GAAP. Investors should be cautioned that the Company's defined Gross Margin should not be construed as an alternative measure to other measures determined in accordance with GAAP.

Bookings Backlog

Snipp defines Bookings Backlog as future revenue from existing customer contracts to be recognized in future quarters. Bookings get translated into revenues based on IFRS principles and the Bookings Backlog reflects how revenues in future quarters are steadily being booked today.

The Following are calculations of EBITDA:

The Following are calculations of Gross Margin:

About Snipp:

Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) is a leading Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp's proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 500 clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform's Receipt Processing Module has established itself as an industry leader and standard by powering a large majority of all receipt-based promotions in North America. SnippLOYALTY, the Platform's full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case-by-case basis. SnippREWARDS, the Platform's modular catalogue of digital and physical rewards provides clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform's gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit Snipp's website at www.snipp.com and its profile on SEDAR+ at www.sedarplus.ca.

Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. Snipp is publicly listed on the TSX Venture Exchange in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.

FOR FURTHER INFORMATION PLEASE CONTACT:

Snipp Interactive Inc.
Malcolm Davidson
Chief Financial Officer (Interim)
[email protected]
1-888-99-SNIPP

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.

SOURCE: Snipp Interactive Inc.

View the original press release on ACCESS Newswire

P.M.Martin--SMC