Springbig Holdings reported a second-quarter loss of 5 cents per share on Friday, exceeding analyst expectations by 3 cents and marking a deterioration from the year-ago period.
The company’s quarterly revenue totaled $4.43 million, down 26% from the $6 million consensus estimate. Revenue has declined sharply over the past year, contributing to a 76.5% drop in the stock’s value over the last 12 months.
Springbig’s shares closed at $0.01 on Thursday, reflecting no change over the prior three months but a 58.8% intraday gain. The company’s financial health remains classified as weak by InvestingPro, with mixed earnings-per-share revisions over the past 90 days.
The OTC-listed firm continues to face pressure as it navigates a challenging operating environment.
