Business
Snipp Interactive Forecasts Record Profitable Quarterly Revenue of over USD 5.3 Million for Q3 2021
Over 145% YoY Profitable Quarterly Revenue Growth VANCOUVER, BC / ACCESSWIRE / October 1...
About this update from Snipp Interactive Inc.
[{"type":"text","content":"Snipp Interactive Forecasts Record Profitable Quarterly Revenue of over USD 5.3 Million for Q3 2021Over 145% YoY Profitable Quarterly Revenue GrowthVANCOUVER, BC / ACCESSWIRE / October 13, 2021 / Snipp Interactive Inc. (\"Snipp\" or the \"Company\") (TSXV:SPN)(OTC PINK:SNIPF), a global provider of digital marketing promotions, rebates and loyalty solutions, is pleased to announce that it has generated the highest ever quarterly revenue in the Company's history with the revenue for Q3 2021 forecasted to exceed USD $5.3 million. This milestone reflects more than 145% year-over-year revenue growth from Q3 2020 which had revenue of USD 2.1 million and over 75% revenue growth from Q2 2021 which had revenue of USD 3.0 million. Over the nine months ended September 30, 2021, the Company has recorded approximately USD 11 million in revenue which is over 65% higher than the comparable nine months in 2020 which had revenue of USD 6.5 million and over 25% higher than the entire twelve months in 2020 which had revenue of USD 8.7 million.EBITDA for Q3 2021 is also expected to be significantly higher than Q3 2020 with projected growth well over 100%. The Company will be announcing its full financial results for Q3 2021 in the next few weeks.\"We are pleased to announce this milestone in our revenue growth as well as continued profitability for the third quarter of 2021. Third quarter revenue was the highest recorded by the company in its history, continuing and building on the robust first two quarters of this financial year. Our revenue over the first nine months of 2021 surpassed our twelve-month 2020 revenue by over 25%. For the comparable nine-month period, our revenue is over 65% higher in 2021 than 2020, which is a testament to the value we are bringing to our clients. We look forward to ending the year on a strong note as our fourth quarter is also shaping up to continue this quarterly year on year growth trend. The team achieved these historical results by staying focused on our strategy through an extremely difficult environment and I would like to thank the efforts that every single one of our team members make every day to add value to our clients businesses. The most exciting part of our growth drivers is that we have only just begun demonstrating the applicability of our SnippCARE platform not only in new industries but also acros...