Snipp Interactive Inc (OTCPK:SNIPF)

Q3 2024 Snipp Interactive Inc Earnings Call Transcript

Dec 3, 2024 / 03:00 PM GMT

Release Date Price: $0.0813 (+27.03%)

Transcript

Key Points

Positve

Snipp Interactive Inc (SNIPF) reported a record EBITDA of $708,649 for Q3 2024, marking a significant turnaround from a $600,000 EBITDA loss in the first half of the year.
Gross margins improved dramatically to 62% in Q3 2024, up from 32% in the same period last year, due to strategic shifts away from lower-margin contracts.
The company achieved a positive EBITDA of $120,866 for the first nine months of 2024, a strong improvement from a $1.94 million loss in the same period last year.
Snipp Interactive Inc (SNIPF) ended Q3 2024 with a record bookings backlog of $15.5 million, indicating strong future growth potential.
The company remains debt-free with an increased cash balance of $4.6 million as of September 30, 2024, up from $2.9 million at the end of 2023.

Negative

Q3 2024 revenue was $6.65 million, down 22% year-over-year, primarily due to the termination of a single low-margin contract.
Year-to-date net loss remains at $1.4 million, which includes $1.6 million in non-cash expenses.
Despite improvements, the company still faces challenges in fully monetizing its Gambit asset, with no immediate plans for its sale.
The company has not yet finalized plans for stock consolidation or moving to US exchanges, which could impact shareholder value.
Salaries, wages, and benefits increased by about $400,000 on a sequential basis, reflecting higher operational costs.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SPN.V - Snipp Interactive Inc
Q3 2024 Snipp Interactive Inc Earnings Call
Dec 03, 2024 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Officer A snip. Joining me today is also Richard Pelli, who recently took over as our interim Chief Financial Officer, Jason Garcia couldn't make it today. He will continue to support the company as we transition into next year.

And through our audit, please visit our investor relations site at slip dotcom for a copy of our earnings press release and detailed financials which have also been filed on CDAR. We present all financial figures in us dollars unless otherwise indicated before we proceed. I'd like to remind everyone that today's discussion may contain forward-looking statements. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ

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