SpringBig Holdings, Inc. reported a revenue of $22.8 million for the fiscal year ending December 31, 2025, a decrease of 7% from $24.6 million in 2024. The decline in revenue was attributed to a 12% drop in subscription revenue, which fell to $17.8 million, and a 14% decrease in excess use revenue, which amounted to $2.2 million. The company also experienced a net loss of $3.2 million, compared to a loss of $1.9 million in the previous year. This increase in losses was primarily due to a combination of reduced revenue and increased general and administrative expenses, which rose by 14% to $9.1 million.
In terms of operational metrics, SpringBig served approximately 775 clients across 2,400 retail locations, with a net revenue retention rate of 79%, down from 88% in 2024. The company distributed over 624 million messages through its platform, reflecting a growing engagement with its services. However, the decline in net revenue retention indicates challenges in maintaining existing client relationships amid a tough cannabis market environment.
Strategically, SpringBig has focused on expanding its product offerings, particularly in the gaming sector, which has shown positive momentum. The company also amended its vendor agreements to reduce minimum monthly commitments, aiming to improve its cost structure. Despite these efforts, SpringBig's working capital deficiency of $3.5 million raises concerns about its ability to sustain operations without additional funding. The company is exploring various strategies to enhance liquidity, including increasing revenue through customer acquisition and negotiating extensions of existing debt obligations.
Looking ahead, SpringBig's management remains cautious about the future, emphasizing the need to navigate the evolving regulatory landscape of the cannabis industry. The company is also monitoring potential changes in federal cannabis laws that could impact its operations. While there are opportunities for growth as more jurisdictions legalize cannabis, the competitive landscape is expected to intensify, necessitating continued innovation and effective marketing strategies to retain and attract clients.
About SpringBig Holdings, Inc.
SpringBig Holdings, Inc. provides SaaS-based loyalty, marketing automation, and consumer engagement solutions primarily for cannabis retailers and brands. Its platform enables targeted communication, data analytics, and customer retention strategies within a highly regulated industry. Serving North American markets, the company leverages proprietary technology and industry partnerships to address industry-specific challenges, enhance customer loyalty, and support compliance in a fragmented, evolving cannabis market.
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