Record EBITDA Achievement
Snipp Interactive delivered the highest annual and quarterly EBITDA in the company's history for the fourth quarter of 2024, reaching $703,000 for the year, a major improvement from a $1.91 million loss in 2023.
Gross Margin Improvement
Gross margin for the year expanded to 61%, up from 31% in 2023. In Q4, gross margin was 62%, up from 39% in the same quarter last year.
International Expansion Success
Snipp continued to expand internationally, with significant progress in Europe, including new contracts with Colgate Palmolive and Hikoki Group across multiple countries.
Strong Backlog and Cash Position
Bookings backlog at year-end stood at $17.3 million, up 30% compared to the end of 2023. The company ended the year with $3.7 million in cash and remains debt-free.
Strategic Partnerships and New Contracts
Snipp signed a major contract with one of the world's largest food and beverage companies, and expanded its financial media network in partnership with Bank of America.