UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to SPRINGBIG HOLDINGS, INC. (Exact name of registrant as specified in its charter) | Delaware | 88-2789488 | | --- | --- | | (State or other jurisdiction | (I.R.S Empl ...

BOCA RATON, Fla., May 08, 2025 (GLOBE NEWSWIRE) -- Springbig (OTCQB: SBIG), a leading provider of marketing automation software and customer loyalty solutions, is excited to announce the addition of three seasoned executives to its leadership team. These strategic hires reflect the company’s commitment to continued growth, innovation, and operational excellence as it scales its SaaS platform and services across North America. Springbig also recently announced that Jaret Christopher has joined the company as ...

Financial Performance - Revenue for the year ended December 31, 2024, was $24.649 million, a decrease from $28.050 million in 2023, representing a decline of approximately 5%[244] - The net loss for 2024 was $1.876 million, significantly improved from a net loss of $10.233 million in 2023[244] - Adjusted EBITDA for 2024 was $1.368 million, compared to a loss of $3.628 million in 2023, indicating a positive turnaround[244] - Revenue decreased by $3.4 million, or 12%, to $24.6 million for the year ended December 31, 2024, compared to $28.1 million in 2023[270] - Total net revenues for the year ended December 31, 2024, were $24,649,000, a decrease of 12.5% compared to $28,050,000 in 2023[337] - Gross profit for 2024 was $17,994,000, down from $21,564,000 in 2023, reflecting a decline of 16.5%[337] - The net loss for 2024 was $1,876,000, significantly improved from a net loss of $10,233,000 in 2023, representing an 81.7% reduction[337] Client Metrics - The number of retail clients decreased to 915 in 2024 from 1,298 in 2023, reflecting a reduction of approximately 29%[244] - Net revenue retention rate fell to 88% in 2024 from 97% in 2023, indicating challenges in maintaining existing client revenue[244] - The number of messages sent by clients increased to 595 million in 2024, up from 578 million in 2023, showing growth in engagement[244] - Clients utilizing the platform accounted for over $7.5 billion in gross merchandise value in the last year[243] Operating Expenses - Total operating expenses decreased by $11.3 million, or 38%, for the year ended December 31, 2024, compared to 2023[273] - Selling, servicing, and marketing expenses decreased by $3.6 million, or 43%, due to lower compensation expenses from reduced headcount[274] - Technology and software development expenses decreased by $2.1 million, or 26%, attributed to lower expenses for offshore contract developers[275] - General and administrative expenses decreased by $5.6 million, or 41%, largely due to reductions in various operational costs[276] Cash Flow and Financing - Cash used in operating activities was $953,000 for 2024, an improvement from $3.976 million in 2023[291] - The company raised $6.4 million through the issuance of 8% Convertible Notes and $1.6 million through 12% Term Notes in January 2024[286] - The net cash provided by financing activities for the year ended December 31, 2024, was $1.9 million, which included $7.2 million from the issuance of Secured Convertible Notes[296] - The net cash provided by financing activities for the year ended December 31, 2023, was $1.1 million, primarily from the issuance of common stock and exercise of employee stock options[297] Assets and Liabilities - Total assets rose to $6,825,000 in 2024, up from $5,105,000 in 2023, indicating an increase of 33.6%[335] - Total liabilities increased to $16,596,000 in 2024 from $13,779,000 in 2023, reflecting a rise of 20.5%[335] - As of December 31, 2024, the Company had a working capital deficit of approximately $1.8 million, including $1.2 million in cash and cash equivalents[351] Shareholder Information - The company issued 1,008,589 common shares during 2024, increasing the total shares outstanding to 46,348,351[339] - The total number of shares authorized for issuance under the 2022 Incentive Plan was 5,125,149 as of December 31, 2024[437] - No options were exercised during the year ended December 31, 2024, with the intrinsic value of options outstanding and exercisable at $0[439] Regulatory and Market Environment - The company plans to explore new expansion opportunities as more jurisdictions legalize cannabis for medical or recreational use[259] - Competition is expected to intensify as the regulatory environment for cannabis stabilizes, potentially attracting new market participants[260] Tax and Accounting - The company has evaluated its tax positions and concluded that there are no uncertain tax positions requiring recognition of a liability as of December 31, 2024, and 2023[304] - The Company’s revenue recognition follows ASC 606, recognizing revenue upon transfer of control of promised services to customers[374] - The Company’s contracts with customers have fixed transaction prices, with a variable component based on the volume of messages[379] Impairments and Losses - The Company recognized an impairment loss on capitalized software costs of approximately $116,000 due to an unsuccessful application implementation in the year ended December 31, 2023[371] - The Company recorded a loss on extinguishment of $0.6 million related to the 2024 Secured Convertible Notes[301] - The Company recorded a loss of $272,000 on the Convertible Note Receivable for the year ended December 31, 2023[403] Other Financial Metrics - Cash and cash equivalents increased to $1,179,000 as of December 31, 2024, compared to $331,000 at the end of 2023, marking a growth of 256.1%[341] - The allowance for credit losses was reduced from $1.60 million in 2023 to $426,000 in 2024, with credit loss expense recorded at $700,000 for 2024[399] - Accounts receivable decreased from $3.69 million in 2023 to $1.95 million in 2024, with total receivables dropping from $4.54 million to $2.64 million[397]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40049 SPRINGBIG HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-2789488 (State or other jurisdictio ...

Exhibit 99.1 Springbig Announces Third Quarter 2024 Financial Results and Amendment to its $6.4 million Convertible Notes and $1.6 million Term Loan Boca Raton, Fla. – November 13, 2024 -- SpringBig Holdings, Inc. ("Springbig" or the "Company") (OTCQX: SBIG), a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs, today announced its financial results for the third quarter ended September 30, 2024, and amendments to the terms of its debt oblig ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40049 SPRINGBIG HOLDINGS, INC. | | | Name of each exchange on which | | --- | --- | --- | | Title of each class | Trading Symbol(s) | regi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40049 SPRINGBIG HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-2789488 (State or oth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40049 SPRINGBIG HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-2789488 (State or other jurisdictio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40049 SPRINGBIG HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-2789488 (State or ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40049 SPRINGBIG HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-2789488 (State or othe ...