Snipp Interactive Inc.

Revenue for fiscal 2024 was $22.89 million, down 25% from 2023, and Q4 revenue was $6.83 million, down 14% year over year. Gross margin expanded to 61% for the year from 31% in 2023, and Q4 gross margin was 62% versus 39% in Q4 last year. EBITDA for 2024 was $703,000 versus a $1.91 million loss in 2023, and Q4 EBITDA was $582,000. Bookings backlog ended at $17.3 million, up 30% from year-end 2023; the company ended the year with $3.7 million in cash and no debt. Management did not provide formal next-quarter or full-year financial guidance, but said revenue should continue to grow year over year after stripping out one low-margin contract, and that Q1 should be strong; it also said tariff uncertainty is a watch item but not expected to affect Snipp tremendously.

Management framed 2024 as a pivotal year, highlighting a shift toward higher-margin, platform-based offerings and record annual and quarterly EBITDA. The CEO said Snipp is seeing momentum in its financial media network, SnippCARE, and international expansion, especially in Europe, and described the business as being at the intersection of brand demand for first-party data and targeted promotions. He also stressed that the company will keep investing in talent, product, and customer relationships, even if that tempers near-term EBITDA growth.

The financial commentary centered on the improved mix and profitability: gross margin rose to 61% for FY2024 and 62% in Q4, while EBITDA turned positive at $703,000 for the year and $582,000 in the quarter. Cash ended at $3.7 million with no debt, and backlog of $17.3 million was cited as a strong indicator of future revenue visibility. The CFO also explained that the revenue decline was expected after exiting a single low-margin legacy contract, and noted the company’s intent to remove the cease trade order after the delayed audit filing.

Analysts asked about 2025 growth, tariff exposure, more Snipp Media wins, new products, Cardlytics/BofA implications, and margin/EBITDA trajectory. Management said it expects revenue to continue rising year over year once the legacy contract drag rolls off, but declined to give precise guidance and said tariff policy is an unknown that it is monitoring. On Snipp Media, management said contract wins should come, but timing is hard to predict because the business is still solving the audience-and-brand “chicken and egg” problem; it expects the impact to show more in the back half of the year.