Financial Performance - Achieved net income of $0.2 million in Q3 2025, compared to a net loss of $1.1 million in Q2 2025[11] - Revenue for Q3 2025 was $5.9 million, slightly up from $5.8 million in Q2 2025, but down from $6.1 million in Q3 2024[6] - Gross profit for Q3 2025 was $4.1 million, resulting in a gross margin of 71%, compared to 74% in Q2 2025[6] - Operating income improved to $0.6 million in Q3 2025, reversing an operating loss of $0.7 million in Q2 2025[6] - For the nine months ended September 30, 2025, the net loss was $1,673 million, compared to a net loss of $784 million for the same period in 2024, indicating a significant increase in losses[22] - Adjusted EBITDA for the nine months ended September 30, 2025, was $1,500 million, compared to $889 million for the same period in 2024, reflecting a substantial improvement[24] Cash Flow and Liquidity - Positive cash from operations was $381,000 for the nine months ended September 30, 2025, compared to a cash outflow of $1.3 million in the prior-year period[11] - Cash balance as of September 30, 2025, was $1.5 million, up from $1.2 million at the end of 2024[18] - The company reported a net cash provided by operating activities of $381 million for the nine months ended September 30, 2025, contrasting with a net cash used in operating activities of $1,334 million in the prior year[22] - The company had cash and cash equivalents of $1,532 million at the end of the period, up from $847 million at the end of the same period in 2024[22] - The net cash used in investing activities was $28 million for the nine months ended September 30, 2025, compared to $64 million in the prior year[22] Cost Management and Efficiency - Cost efficiencies achieved through early termination of a lease, reducing long-term obligations by $2.4 million and monthly rent by 75%[11] - Interest expense for the nine months ended September 30, 2025, was $976 million, down from $1,969 million in the prior year[24] - The company incurred stock-based compensation expenses of $424 million for the nine months ended September 30, 2025, compared to $578 million in the same period of 2024[22] Strategic Initiatives - The company expects to maintain positive Adjusted EBITDA for the full year 2025, driven by AI-driven product innovation and disciplined expense management[8] - Over 80% of total revenue comes from recurring subscription and platform fees, reinforcing predictable cash flows[11] - Completed the integration of ViceCRM, enhancing AI-driven campaign optimization capabilities[11] - The company issued common stock valued at $49 million in connection with the acquisition of ViceCRM[22] Other Financial Metrics - The company recognized a credit loss expense of $370 million for the nine months ended September 30, 2025, compared to $292 million in the same period of 2024[22] - The company reported a gain on note repurchase of $1,573 million in the previous year, which did not recur in the current period[22]
SPRINGBIG HOLDIN(SBIG) - 2025 Q3 - Quarterly Results