VANCOUVER, BC / ACCESS Newswire / June 2, 2026 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSXV:SPN)(OTCPK:SNIPF), a value-added, AI-powered SaaS company delivering "Marketing Verified from Ad to Aisle," today announced its financial results for the three months ended March 31, 2026 ("Q1 2026"). All results are reported under International Financial Reporting Standards ("IFRS") and in U.S. dollars. A copy of the complete unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis is available on SEDAR+ at www.sedarplus.ca.
Q1 2026 reflects continued execution of the transition Snipp announced in connection with its Fiscal 2025 results, including a deliberate shift toward multi-year recurring revenue and a strengthened balance sheet following the CAD $4.5 million strategic financing closed in February 2026. The Company's Bookings Backlog reached $20.6 million at March 31, 2026 - the highest backlog in Snipp's history and an increase of approximately 15% year-over-year - providing significantly enhanced forward revenue visibility as the Company moves through 2026. Year-over-year revenue softness in the quarter reflects the continuation of macroeconomic headwinds - tariff-driven brand-budget caution and shifting client marketing-program timing - that the Company described on its Fiscal 2025 results call. The Company is responding by accelerating the integration of AI across every part of its business and by maintaining cost discipline in advance of the EBITDA inflection the Company is targeting in 2027.
Conference Call
The Company will host a conference call for investors on Wednesday, June 3, 2026 at 10:00 a.m. Eastern Time to discuss the Company's Q1 2026 results and forward plans.
Webcast and dial-in details will be provided in a follow-up announcement prior to the call.
Q1 2026 Highlights
(Refer to the Non-GAAP Measures, EBITDA, Gross Margin and Bookings Backlog discussion below.)
Record bookings backlog of $20.6 million - highest in Company history. Bookings Backlog - the contracted value of signed customer agreements not yet recognized as revenue - stood at $20.6 million at March 31, 2026, an increase of approximately 15% compared to $17.9 million at March 31, 2025, and an increase of approximately 13% sequentially from $18.3 million at December 31, 2025. This is the highest bookings backlog in Snipp's history and represents more than four times Q1 2026 revenue - a leading indicator of recurring revenue strength as multi-year customer agreements continue to anchor the contracted forward book.
Strongest year-opening cash position in years. Cash at March 31, 2026 was $6.1 million, compared with $3.4 million at December 31, 2025, reflecting net proceeds of $3.2 million from the senior secured convertible debenture financing closed in February 2026.
Deferred revenue up 27% from year-end. Deferred revenue - a leading indicator of contracted forward revenue - stood at $6.9 million at March 31, 2026, compared with $5.4 million at December 31, 2025, an increase of approximately $1.4 million.
Revenue reflects continued macroeconomic headwinds. Revenue for Q1 2026 was $5.0 million, compared with $6.4 million for the three months ended March 31, 2025 ("Q1 2025"), a decrease of approximately 21%. The decline reflects scope reductions and program-timing deferrals across a small number of large clients, consistent with the tariff- and budget-driven softness the Company described in its Fiscal 2025 results.
Gross margin held essentially flat. Gross Margin was 59% for Q1 2026, compared with 60% for Q1 2025, demonstrating the resilience of the underlying platform economics on a lower revenue base.
EBITDA reflects revenue mix and continued investment. EBITDA for Q1 2026 was $(0.3) million, compared with positive $0.3 million for Q1 2025. The change reflects the revenue decline described above, partially offset by reductions in salaries, campaign infrastructure, marketing, and share-based payments compared with the prior-year period.
Cost discipline visible across the P&L. Salaries and compensation declined approximately 6% year-over-year; campaign infrastructure costs declined approximately 20%; marketing and investor relations declined approximately 36%; and travel declined approximately 58%, reflecting the cost actions implemented in late 2025 and continuing into 2026.
AI roadmap accelerating across the business. The Company has materially accelerated its application of artificial intelligence to sales operations, product prototyping, operational delivery, and engineering, with the objective of driving structural margin improvement throughout 2026 and into 2027.
Management Commentary
"Q1 2026 was a tougher quarter on the top line than Q1 2025, and I want to be direct about that. Revenue was down approximately 21% year-over-year, reflecting the same macroeconomic headwinds - tariff-driven budget caution, program timing shifts at several large clients - that we described on our Fiscal 2025 results call. But the most important number in this release is not the revenue line; it is the bookings backlog. At $20.6 million, our backlog is the highest in Snipp's history, up 15% year-over-year and 13% from year-end. That backlog represents more than four times the revenue we recognized in Q1 2026 - contracted, signed, and on its way to revenue in the coming quarters. Combined with the strongest year-opening cash position we have had in years, the underlying business is structurally stronger today than it was a year ago - and the leading indicators are pointing in the right direction," said Atul Sabharwal, Founder and Chief Executive Officer of Snipp Interactive. "The single most important strategic shift inside Snipp right now is how aggressively we are applying AI across every aspect of our business - sales, prototype development, operational methodology, and engineering. We are moving hard and fast. If we are successful in this push, by the end of 2026 Snipp will be a meaningfully different company when measured from the perspective of cost structure, and that will drive the EBITDA conversation more than anything else we do this year. The transition we described in May is on track, and Q1 is consistent with the path to the EBITDA inflection we are targeting in 2027."
Non-GAAP Measures
Snipp uses certain performance measures throughout this document that are not recognized under Canadian generally accepted accounting principles or IFRS ("GAAP"), including Gross Margin, EBITDA, and Bookings Backlog. Management believes that these measures provide supplemental financial information that is useful in evaluating the Company's operations. Investors should be cautioned, however, that these measures should not be construed as alternatives to measures determined in accordance with GAAP or IFRS as an indicator of Snipp's performance. The Company's method of calculating these measures may differ from that of other organizations, and accordingly, these measures may not be comparable.
EBITDA. Snipp defines earnings before interest, taxes, depreciation and amortization ("EBITDA") as revenue minus operating expenses, excluding non-cash operating expenses consisting of share-based payments, depreciation and amortization. Interest and taxes are not included in the Company's operating expenses.
Gross Margin. Snipp defines Gross Margin as revenue less campaign infrastructure costs.
Bookings Backlog. Snipp defines Bookings Backlog as the total contracted value of signed customer agreements less revenue recognized to date under those contracts. Bookings translate into revenue based on IFRS principles, and Bookings Backlog reflects the portion of contracted revenue expected to be recognized in future periods.
EBITDA Reconciliation
(USD)
|
| Q1 2026 |
|
|
| Q1 2025 |
|
| $ Change |
| ||
Operating loss |
|
| (658,508 | ) |
|
| (150,176 | ) |
|
| (508,332 | ) |
Amortization of intangibles |
|
| 311,216 |
|
|
| 269,015 |
|
|
| 42,201 |
|
Depreciation of equipment |
|
| 3,503 |
|
|
| 5,020 |
|
|
| (1,517 | ) |
Share-based payments |
|
| 24,181 |
|
|
| 139,996 |
|
|
| (115,815 | ) |
EBITDA |
|
| (319,608 | ) |
|
| 263,855 |
|
|
| (583,463 | ) |
Gross Margin
(USD)
|
| Q1 2026 |
|
|
| Q1 2025 |
|
| $ Change |
| ||
Revenue |
|
| 5,047,104 |
|
|
| 6,400,177 |
|
|
| (1,353,073 | ) |
Less: Campaign infrastructure |
|
| (2,063,126 | ) |
|
| (2,564,947 | ) |
|
| 501,821 |
|
Gross Margin |
|
| 2,983,978 |
|
|
| 3,835,230 |
|
|
| (851,252 | ) |
Gross Margin % |
|
| 59 | % |
|
| 60 | % |
|
| (1 pt | ) |
About Snipp
Snipp Interactive Inc. (TSX-V:SPN; OTCPK:SNIPF) is a value-added, AI-powered SaaS company and a leader in shopper marketing promotions, loyalty programs, and purchase validation technology. Snipp helps brands drive actions, prove performance, and unlock insights across consumer and channel marketing strategies by connecting promotions, sweepstakes, offers, rebates, rewards, loyalty, and media programs directly to verified purchases.
Snipp's modular, AI-powered platform enables Fortune 500 brands, agencies, and partners to run both short-term and always-on programs at scale, transforming engagement into proven outcomes and owned first-party intelligence that powers meaningful, measurable growth. Snipp's AI-powered receipt and transaction validation capabilities have become an industry standard, enabling accurate, retailer-agnostic measurement.
The Company's integrated solution suite includes SnippCHECK (receipt processing), SnippWIN (promotions and sweepstakes), SnippLOYALTY (enterprise loyalty programs), SnippREWARDS (digital and physical rewards fulfilment), SnippREBATES (digital rebates), SnippOFFERS (digital coupon management), and SnippMEDIA (Financial Media Network), all unified by SnippINSIGHTS, the Company's first-party data and reporting layer.
Snipp is headquartered in Vancouver, Canada, with operations across the United States, Canada, Ireland, Switzerland, and India. Snipp is publicly listed on the TSX Venture Exchange in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF. For more information, visit www.snipp.com and the Company's profile on SEDAR+ at www.sedarplus.ca.
For Further Information, Please Contact
Snipp Interactive Inc.
Malcolm Davidson, Chief Financial Officer (Interim)
investors@snipp.com | 1-888-99-SNIPP
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this release include, without limitation, statements regarding the Company's expected trajectory in 2026 and 2027; the anticipated benefits and timing of AI-driven operational improvements and cost-control measures; the expected conversion of bookings backlog into recognized revenue; the timing and magnitude of any future EBITDA inflection; and the Company's strategic and commercial plans. Such statements reflect the Company's current views with respect to future events and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied, including those factors discussed in filings made by the Company with the Canadian securities regulatory authorities. There can be no assurance that the anticipated benefits of the Company's AI initiatives, cost actions, backlog conversion, or growth initiatives will be realized in the amounts or on the timelines described. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.
SOURCE: Snipp Interactive Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/computers-technology-and-internet/snipp-interactive-reports-q1-2026-financial-results-bookings-back-1172678
