Snipp Interactive Inc V.SPN

Preliminary Results

[donlin2]

This is a very good testimonial for 2021................

PRELIMINARY UNAUDITED FINANCIAL RESULTS FOR Q4 2020

 

March 9, 2021

 

VANCOUVER, BC, CANADA - Snipp Interactive Inc. ("Snipp" or the “Company”) (TSX-V: SPN; OTCPK: SNIPF), a global provider of digital marketing promotions, rebates, and loyalty solutions, announces its preliminary unaudited financial results for Q4 2020. Note that these preliminary Q4 2020 financial results have not been audited. The Company is currently in the process of having its full fiscal 2020 financial results audited. All results are reported under International Financial Reporting Standards ("IFRS") and in US dollars.

 

 Q4 2020 Highlights - based on preliminary unaudited results

(Refer to Non-GAAP Measures, Gross Margin, EBITDA and Bookings Backlog discussion below)

• EBITDA in Q4 2020 is forecast to improve by over 100% compared to Q4 2019, an EBITDA improvement of over $1,000,000. Q4 2020 EBITDA is forecast to be greater than $100,000 positive vs Q4 2019 EBITDA that was negative $1,014,667.
• The Company also forecasts to be EBITDA positive on a full year basis.
• Revenue for Q4 2020 is forecast to increase by over 50% compared to Q4 2019. Revenue for Q4 2020 is forecast to be above $2,000,000 compared to revenue for Q4 2019 of $1,349,685.
• Gross margin in Q4 2020 is forecast to be above 70% compared to 60% in Q4 2019.
• The Company continued to focus on cost improvements from its integration efforts, resulting in lower costs over multiple expense categories.

“Q4 marked the end of what was a difficult year for everyone. Despite the profound challenges posed by the Covid-19 pandemic and the resulting loss of revenue of over $1.5MM for the year, I am very proud of our teams’ dedication and focus on executing to our strategy. This has ultimately led to an epic fourth quarter of growth that clearly demonstrates the growing value of our platform and gives us a base to build on for 2021. As we enter the final month of our first quarter in 2021, we are seeing the benefits accruing from a strong end to the last year. We look forward to completing our annual audit and releasing our full year audited financials in April as well as our first quarter results in May as per our regular release schedule.

[donlin2]

Down a half cent.............I guess the market was expecting more, unless, as you alluded to Maggs, no one knows about this company.  However, with millions of shares trading on previous news I figured Snipp at least would have been over 100K after an hour of trading.   Maybe the investment houses are still behind closed doors trying to determine how many million shares they are going

[sportsman80]

Well there is no way they were expecting less than this, 2 million US in revenue is nothing too impressive.  "Epic 4th quarter of growth"???? I guess compared to Q42019 which was a disaster, but depending on the exchange this might be the lowest 1/4 of revenue in the last 5 years (other than Q4 2019).   When they said they were going to release Q4 early I certainly had

[stockpickerone!]

but look at their Ebitda numbers...everyting is up top line, bottom line, margin...i mean why is this bad or not good enough? if you extrapolate this to full year it appears their rev will be higher (though not a lot - probably even flat) but their ebtida story will be super super solid. Means they dont need to raise cash either...if you look at it over the last 2, 3 or 5 years - this shows a

[donlin2]

I guess some will just sell on news regardless of the future looks like.   No more financial numbers I guess for another month or so.    However, perhaps another big contract......TWT,

[sportsman80]

I agree it's not bad but no it's not good enough and nowhere close to Epic.  2 million revenue will never be good enough no matter how many costs they cut. I'm not sure how many times it needs to be said but they need a lot more revenue, the foundation is there like you said but actual Epic revenue growth would be a beatuful thing right now, like an actual new sale to a new

[stockpickerone!]

imho a swing from a seven figure loss in a quarter to a six figure profit is pretty epic...:)

[Maggs]

Yes. Swinging from a huge loss to cash flow positive is epic! And great news... People who hold this stock could care less about the company besides a few of us. That is on management. They don't communicate with shareholders at all. News releases are one thing. Actually doing some press for existing and new shareholders should be on their list but I am guessing the way things are ramping up,

[sportsman80]

Well technically these numbers are worse than Q3 in every metric so Q3 was even more epic? Or since Q3 isn’t being compared to the worst quarter in company history it’s not as good?  Personally comparing anything to Q4 2019 is insulting to my intelligence as a long time investor and it should never be brought up to make anything else look good.   I agree with Maggs something else is

[stockpickerone!]

From all there prior comparisons they only compare year on year quarters. So if anything they are being consistent and rightfully so versus changing the basis of comparison which would make me more concerned if they cherry picked what to compare to.  Am not sure how you get Q4 is worse than Q3? There no definite numbers they have given? The only definitive is q4 ebitda seems to be higher

[sportsman80]

100,000 ebitda, 2 million revenue 70% margin are all lower than Q3.  So they could come in with final numbers slightly over or the same, let’s call it the same.   I’m fine with and agree they always use previous year to compare. No problem keep doing that, but they never bring out unaudited numbers early and suddenly now they do claiming epic results when the quarter they are comparing

[stockpickerone!]

I think those numbers were minimum round numbers so hoping the actuals would be higher. But I do get your point. Their use of the word epic I think was also reflective of the year of 2020 and the lost opportunities with Covid etc that would have made the revenue numbers and ebitda much much higher. This was their first full financial year that they are ebitda positive despite the crisis of 2020 so

[Maggs]

There really are some thoughtful, intelligent investors posting their thoughts on this board. Thank you all for sharing your thoughts on the company whether we agree or disagree. It's always good to hear those different opinions. If you ask me...It's just the company and the way they communicate/or don't communicate which makes things ackward for all of us and continues to keep us