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01/11 11:27
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call reveals mixed signals: a 13% revenue decline and dependency on deferred revenue indicate challenges, while increased full-year guidance and a promising partnership with Inmar Intelligence are positives. The Q&A highlights market indecision and unclear economic outlook, which tempers optimism. However, strong deferred revenue and backlog, along with cost optimization plans, offset some concerns. Given these factors, the market reaction is likely neutral, with potential for slight positive or negative shifts depending on market cap and investor sentiment.
Revenue for Q3 2025 $5.8 million, a decrease of approximately 13% year-over-year from $6.7 million. The decline was due to a slower pace of program launches.
Revenue for 9 months ended September 30, 2025 Increased by 6% year-over-year. The reasons for this growth were not explicitly mentioned.
Deferred Revenue $7 million, up from $5.3 million at the end of 2024, reflecting a $1.7 million increase. This growth highlights strong customer commitments for upcoming programs that have not yet commenced.
Gross Margin for Q3 2025 64%, up from 62% in Q3 2024. The increase was due to a decrease in operating costs.
EBITDA for Q3 2025 $0.5 million, down from $0.7 million in Q3 2024. The decline was attributed to ongoing investments in infrastructure and the addition of key personnel.
Cash at the end of Q3 2025 $3.9 million, up from $3.7 million at the end of Q4 2024. The increase was not explicitly explained.
Cash Flow from Operations for Q3 2025 $0.9 million, a decrease of $1.5 million year-over-year. The decline was due to ongoing investments in infrastructure and campaign platforms.
Accounts Receivable at September 30, 2025 $3 million, down from $3.7 million at December 31, 2024. The decrease aligns with the company's historical average.
Bookings Backlog at September 30, 2025 $15.3 million, slightly down from $15.5 million at the end of Q3 2024. The slight decline was not explicitly explained.
Soft launch with Inmar Intelligence: Snipp partnered with Inmar Intelligence, a leader in data-driven media and incentive technology, to expand loyalty programs to Snipp's financial media network. The partnership is expected to be fully live in Q4 2025.
Expansion of loyalty programs: Through the partnership with Inmar Intelligence, Snipp's financial media network now reaches over 67 million consumers and integrates with Bank of America Deals program. The soft launch covered 9 regional grocers and over 1,100 locations.
Revenue and backlog: Revenue for Q3 2025 was $5.8 million, a 13% decrease from the same period last year. However, deferred revenue increased to $7 million, and the backlog remains healthy at $15.2 million.
Cost reduction initiatives: The company implemented cost-saving measures, resulting in a gross margin increase to 64% from 62% in Q3 2024.
Focus on financial discipline and growth: The company is maintaining financial discipline while strategically investing in infrastructure and personnel to support sustainable and long-term growth.
Client Budget Constraints: Clients are holding out on budgets and program launches, leading to slower revenue recognition and a 13% revenue decline compared to the same period last year.
Operational Adjustments: The company had to adjust operationally to a new operating paradigm due to slower program launches, which impacted short-term revenue.
Deferred Revenue Dependency: The company is relying on elevated deferred revenue levels ($7 million) and a backlog of $15.2 million, which are contingent on future program launches.
Cost Reduction Measures: Cost reduction initiatives were implemented to preserve cash, indicating financial pressure until new campaigns are initiated.
Infrastructure Investment: Ongoing investments in infrastructure and key personnel have contributed to a decrease in cash flow from operations by $1.5 million.
Deferred Revenue: Deferred revenue remains elevated at $7 million, which will eventually turn into revenue as the backlog of programs is launched. The backlog is healthy at approximately $15.2 million.
Partnership with Inmar Intelligence: The partnership with Inmar Intelligence is expected to be fully live in Q4 2025, launching within Snipp's integration of the Bank of America Deals program. The program was soft launched on November 18 across 9 regional grocers covering over 1,100 locations nationwide. Over 500 offers were made available, and initial data from the soft launch has been encouraging.
Revenue Recognition: The company expects to recognize the majority of the $6.9 million deferred revenue as earned revenue over the next 12 months.
Operational Adjustments: The company has initiated cost reduction measures to preserve cash until new campaigns are initiated and cash is received.
The selected topic was not discussed during the call.
The earnings call reveals mixed signals: a 13% revenue decline and dependency on deferred revenue indicate challenges, while increased full-year guidance and a promising partnership with Inmar Intelligence are positives. The Q&A highlights market indecision and unclear economic outlook, which tempers optimism. However, strong deferred revenue and backlog, along with cost optimization plans, offset some concerns. Given these factors, the market reaction is likely neutral, with potential for slight positive or negative shifts depending on market cap and investor sentiment.
The earnings call summary indicates strong financial performance with 38% growth and a positive adjusted EBITDA for the first time in 10 years, suggesting effective cost management. The Q&A session highlights strong bookings and a strategic plan for sustained growth, particularly in oncology. Despite some unclear responses, the overall sentiment remains positive due to increased revenue guidance and strategic investments. The convertible notes issuance for cash savings also supports a positive outlook.
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