Snipp Interactive Inc. (SPN:CA) Q3 2025 Earnings Call Transcript
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Overview
The earnings call reveals mixed signals: a 13% revenue decline and dependency on deferred revenue indicate challenges, while increased full-year guidance and a promising partnership with Inmar Intelligence are positives. The Q&A highlights market indecision and unclear economic outlook, which tempers optimism. However, strong deferred revenue and backlog, along with cost optimization plans, offset some concerns. Given these factors, the market reaction is likely neutral, with potential for slight positive or negative shifts depending on market cap and investor sentiment.
Key Financial Performance
Revenue for Q3 2025 $5.8 million, a decrease of approximately 13% year-over-year from $6.7 million. The decline was due to a slower pace of program launches.
Revenue for 9 months ended September 30, 2025 Increased by 6% year-over-year. The reasons for this growth were not explicitly mentioned.
Deferred Revenue $7 million, up from $5.3 million at the end of 2024, reflecting a $1.7 million increase. This growth highlights strong customer commitments for upcoming programs that have not yet commenced.
Gross Margin for Q3 2025 64%, up from 62% in Q3 2024. The increase was due to a decrease in operating costs.
EBITDA for Q3 2025 $0.5 million, down from $0.7 million in Q3 2024. The decline was attributed to ongoing investments in infrastructure and the addition of key personnel.
Cash at the end of Q3 2025 $3.9 million, up from $3.7 million at the end of Q4 2024. The increase was not explicitly explained.
Cash Flow from Operations for Q3 2025 $0.9 million, a decrease of $1.5 million year-over-year. The decline was due to ongoing investments in infrastructure and campaign platforms.
Accounts Receivable at September 30, 2025 $3 million, down from $3.7 million at December 31, 2024. The decrease aligns with the company's historical average.
Bookings Backlog at September 30, 2025 $15.3 million, slightly down from $15.5 million at the end of Q3 2024. The slight decline was not explicitly explained.
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Operating Highlights
Soft launch with Inmar Intelligence: Snipp partnered with Inmar Intelligence, a leader in data-driven media and incentive technology, to expand loyalty programs to Snipp's financial media network. The partnership is expected to be fully live in Q4 2025.
Expansion of loyalty programs: Through the partnership with Inmar Intelligence, Snipp's financial media network now reaches over 67 million consumers and integrates with Bank of America Deals program. The soft launch covered 9 regional grocers and over 1,100 locations.
Revenue and backlog: Revenue for Q3 2025 was $5.8 million, a 13% decrease from the same period last year. However, deferred revenue increased to $7 million, and the backlog remains healthy at $15.2 million.
Cost reduction initiatives: The company implemented cost-saving measures, resulting in a gross margin increase to 64% from 62% in Q3 2024.
Focus on financial discipline and growth: The company is maintaining financial discipline while strategically investing in infrastructure and personnel to support sustainable and long-term growth.
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Risk or Challenges
Client Budget Constraints: Clients are holding out on budgets and program launches, leading to slower revenue recognition and a 13% revenue decline compared to the same period last year.
Operational Adjustments: The company had to adjust operationally to a new operating paradigm due to slower program launches, which impacted short-term revenue.
Deferred Revenue Dependency: The company is relying on elevated deferred revenue levels ($7 million) and a backlog of $15.2 million, which are contingent on future program launches.
Cost Reduction Measures: Cost reduction initiatives were implemented to preserve cash, indicating financial pressure until new campaigns are initiated.
Infrastructure Investment: Ongoing investments in infrastructure and key personnel have contributed to a decrease in cash flow from operations by $1.5 million.
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Guidance & Outlook
Deferred Revenue: Deferred revenue remains elevated at $7 million, which will eventually turn into revenue as the backlog of programs is launched. The backlog is healthy at approximately $15.2 million.
Partnership with Inmar Intelligence: The partnership with Inmar Intelligence is expected to be fully live in Q4 2025, launching within Snipp's integration of the Bank of America Deals program. The program was soft launched on November 18 across 9 regional grocers covering over 1,100 locations nationwide. Over 500 offers were made available, and initial data from the soft launch has been encouraging.
Revenue Recognition: The company expects to recognize the majority of the $6.9 million deferred revenue as earned revenue over the next 12 months.
Operational Adjustments: The company has initiated cost reduction measures to preserve cash until new campaigns are initiated and cash is received.
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Shareholder Return Plan
The selected topic was not discussed during the call.
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Key Q&A
Q:Can we expect a similar level of gross margins and costs going forward?
A:Yes, the company is continuing to work on cost optimizations. Infrastructure costs for the media business will start falling, and further cost reductions are expected to be visible in the second quarter of next year. Margins are expected to remain in the historical range.
Q:Do you see any changes in the outlook as we head into the new year?
A:The company continues to have a good backlog and high deferred revenue. However, there is significant indecision in the market, which has become the new standard. The company is adapting to this new operating paradigm.
Q:Can you detail the ramp of the partnership with Inmar Digital going into 2026 and its financial implications?
A:The partnership with Inmar Digital is part of the Snipp Media financial media network. The audience includes over 60 million users from banking apps and credit unions. The pilot launched in November with 500 offers from small regional retailers, and national retailers are expected to join. Early feedback shows high engagement, with 2% of users interacting with the offers. The company expects revenue to increase as adoption grows and plans to leverage existing client relationships for further monetization.
Q:Review of Unclear Management Responses
A:Management avoided providing a clear answer regarding the economic outlook, citing market indecision and the existence of 'two parallel economies' without offering specific data or clarity on how this would impact the business.
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Earnings Word Cloud
The most frequently occurring keywords in this quarter's earning call
America Deals
America network
America promotion
Bank America
CFO financials
Clients budget
Deals program
Difference paradigm
Director audience
Founder President
Inmar incentive
Inmar network
Inmar partner
Inmar partnering
Instructions today
Interactive Conference
Interim CFO
North America
SEDAR Investor
audience today
backlog launch
backlog program
base pace
future
law
location
loyalty
medium network
recognition
retailer
week
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Frequently Asked Questions
Where does this earnings call transcript come from?
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They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
