springBig Holdings Inc

springbig.com

What Do They Do?

Provides loyalty and marketing software that helps cannabis retailers and brands communicate with consumers, run rewards programs and analyze customer behavior.

How Do They Make Money?

Retailers pay monthly for platform access and messaging, plus extra charges if messaging exceeds their included credits; brand-platform pricing is either a bulk payment or a monthly subscription.

revenue

Segment	Share	Revenue	How money arrives
Brand revenue Mix	1.3% FY2022: 3.5%		Mix
Retail revenue Mix	99% FY2022: 96%		Mix

Who Are Their Customers?

Retail clients operate dispensaries; brand clients sell products wholesale to dispensaries. Both use SpringBig’s platform through client subscriptions.

Customers above 10% of revenue, FY2025

of revenue from one customer

Do Revenues Turn Into Profits?

Not on paper. It lost $3.2M in FY2025, but brought in more cash than it spent: $321K of free cash flow.

Operating income, FY2025

−8% of revenue

▲ +188% (Loss) vs FY2024 (−$600K, −2%)

Net income, FY2025

−14% of revenue

▲ +73% (Loss) vs FY2024 (−$1.9M, −8%)

Free cash flow, FY2025

1% of revenue

▲ Now profitable vs FY2024 (−$1M, −4%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −24%; vs $5.8M in Q2 FY2025
Net income: ▲ +106% (Loss); vs −$1.1M in Q2 FY2025

Retail Revenue Member share of revenue vs 98.6% in Q2 FY2025

Aug 19, 2026 Changed its outside auditor The company dismissed Withum and appointed Victor Mokuolu, CPA PLLC.
Jul 16, 2026 Transferred operating subsidiary and most assets; plans strategic transaction The transaction released the company from approximately $12.5 million of note obligations; without a strategic deal, it may wind down and dissolve.
Jul 2, 2026 Chief financial officer resigned
Jun 3, 2026 Chief executive officer’s service ended

Flat. Revenue was $22.8M in FY2025, about the same as the $23.4M of FY2021.

Expanded into gaming The older report describes its platform for cannabis retailers and brands; the latest also describes messaging services for gaming businesses.

Added consumer transaction revenue The earlier report focuses on retail subscriptions and a brand advertising platform; the latest also says it earns a share from paid premium loyalty subscriptions and prepaid gift cards.

Revenue over time

Brand revenue Retail revenue

$50M$25M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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