SpringBig reports Q EPS (6c), consensus (4c)

Reports Q2 revenue $7.2M vs.$6.5M last year…Subscription revenue was up 19% year-on-year.105 new clients added in Q2 with annualized subscription revenue of $900K…81 clients who upgraded and extended their subscriptions with annualized incremental subscription revenue of $1.5 million.I am as confident as ever that our strategy is sound, with feedback from our clients and partners reaffirming that we are making the right investments to capture the long-term opportunity in front of us,” said Jeffrey Harris, CEO and Chairman of springbig. “We are continuing to manage our business efficiently with a keen eye on measured growth focused on profitability while recognizing the challenging current macro and industry-specific realities and continuing to develop innovative SaaS based offerings to enable our clients to retain and grow their customer bases, including our recent launch of ‘Subscriptions by springbig’.”Paul Sykes, springbig’s CFO, added “We continue to make progress along our path to profitability. We have right sized our operating expenses, and this combined with continuing revenue growth results in the Company expecting to reach the critical milestone of breakeven Adjusted EBITDA during Q3 and to generate positive Adjusted EBITDA for the second half of the fiscal year.