BOCA RATON, Fla. - Springbig Holdings, Inc. (OTCQX: SBIG), a provider of SaaS-based marketing solutions, announced today its integration with commerce platform Lightspeed Commerce Inc. (NYSE | TSX: TSX:LSPD). This collaboration signifies Springbig's expansion beyond the cannabis industry, aiming to enhance customer engagement and loyalty for retailers across different sectors.
Jeffrey Harris, CEO of Springbig, highlighted the integration as evidence of the company's commitment to working with SaaS solutions that empower retailers and brands. He emphasized Springbig's capability to navigate strict regulations while creating effective marketing campaigns.
Lightspeed, known for its POS and payments platform, assists entrepreneurs in growing their businesses and improving customer experiences. The integration with Springbig introduces loyalty and advanced text messaging functions, designed to automate customer connections for Lightspeed merchants.
Ana Wight, Chief Strategy Officer at Lightspeed, expressed excitement about the partnership, which is set to offer an extensive marketing service to customers. Springbig's move into other regulated industries like liquor and health and beauty follows its success in the cannabis market.
Springbig's platform is recognized for connecting consumers with retailers and brands through loyalty rewards, text message marketing, CRM, and other tools aimed at increasing retention and revenue, while also enabling smarter marketing campaigns.
The integration with Lightspeed's X series is Springbig's latest effort to leverage its marketing expertise in various regulated industries.
This partnership is based on a press release statement.
InvestingPro Insights
In the wake of Springbig Holdings, Inc.'s (OTCQX: SBIG) strategic move to integrate with Lightspeed Commerce Inc., it's pertinent to consider the financial health and market sentiment surrounding SBIG. With a focus on enriching customer engagement and loyalty across diverse sectors, the company's financial metrics provide a window into its current market standing.
InvestingPro data reveals a market capitalization of 6.82 million USD, reflecting the size of the company in the financial markets. Despite the company's venture into new industries, it is important to note that SBIG is currently trading near its 52-week high, with a price that is 16.88% of this peak. This indicates a significant level of investor confidence in the company's potential growth following the recent integration announcement.
However, Springbig's valuation implies challenges ahead. The company's negative P/E ratio of -0.67 for the last twelve months as of Q4 2023 suggests that it is not currently generating net income, which could be a concern for potential investors. Moreover, the gross profit margin stands at 76.85%, which on the surface appears robust, but an InvestingPro Tip indicates that the company suffers from weak gross profit margins, a factor that could impact long-term profitability.
For those considering an investment in Springbig Holdings, it's worth noting that the company does not pay a dividend to shareholders, as per another InvestingPro Tip. This could influence the investment decision of income-focused investors.
InvestingPro offers additional insights and tips for investors considering SBIG. With a total of five InvestingPro Tips available, investors can further their analysis and make more informed decisions. To access these insights, visit: https://www.investing.com/pro/SBIG and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.