Snipp Interactive Announces Preliminary Q3 2024 Financial Results

Snipp Interactive Inc., a platform-as-a-service company in the loyalty and promotions sector, has released its preliminary financial results for Q3 2024. Revenues are forecasted to exceed $6 million, with expectations of EBITDA surpassing $600,000 for the quarter. For the nine months ending September 30, 2024, the company anticipates revenues above $15 million and a positive EBITDA.

Cash reserves totaled over $4.5 million at the quarter's conclusion, and the company remains debt-free. This growth is attributed to high-margin contract focus, enhanced operational efficiency, and expansion within its core CPG platform, alongside non-CPG clients.

CEO Atul Sabharwal emphasized the company's strong bookings backlog and sales pipeline, which supports continued growth into the fourth quarter, reinforcing Snipp's trajectory toward sustained profitability into 2025.