springBig Holdings Inc (NASDAQ: SBIG) is a cannabis-focused SaaS company that provides loyalty, messaging, and customer engagement software to cannabis retailers and brands. Revenue comes primarily from monthly recurring subscriptions charged to retail clients for access to the platform, plus overage fees when message volumes exceed subscription allotments, and a secondary brands advertising channel that connects cannabis brands directly to consumers. As of the 10-K filed March 27, 2026, springBig served approximately 775 brand and retailer clients across more than 2,400 distinct retail locations in North America, with clients distributing over 600 million digital messages annually and more than $5.7 billion of gross merchandise value transacted through the platform in the prior year. The platform sits at the intersection of loyalty program management, SMS and email communications, and consumer data, with integrations into point-of-sale and e-commerce providers serving a base of over 35 million cannabis consumers. The company was expanding messaging capabilities into the gaming industry as of 2024.

Revenue model

Subscription fees billed monthly to cannabis retail clients, priced based on the number of consumers in the client's database and a pre-determined allotment of communication credits per month. Excess message volume above the allotment generates additional invoice-based overage revenue. A secondary revenue stream comes from the brands platform, where cannabis brands pay for direct advertising and consumer engagement access.

Products and services

SaaS platform for cannabis retailers covering loyalty program management, SMS, email, and push-notification messaging, and consumer analytics. Brands platform enabling cannabis brands to advertise to consumers and acquire high-lifetime-value customers. Integrations with point-of-sale, e-commerce, and data analytics providers.

Customers and end markets

Cannabis retailers and cannabis brands in North American legal markets. Approximately 775 brand and retailer clients across more than 2,400 retail locations as of the 10-K filed March 27, 2026. End market demand is tied to state-by-state cannabis legalization for medical and recreational use. The company also announced entry into the gaming industry messaging market during 2024.

Value-chain role

B2B2C software intermediary sitting between cannabis retailers and their end consumers, and between cannabis brands and those same consumers. Provides the data, loyalty, and communications infrastructure that retailers and brands cannot access through conventional marketing channels due to cannabis-specific platform restrictions.

Geographic exposure

North America, with presence tied to jurisdictions where cannabis is legally permitted for medical or recreational use.

Source: SEC 10-K, filed 2026-03-27

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