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Snipp Interactive Reports Record Financial Results for Q3 2021 with 154% YoY Quarterly Revenue Growth, 169% Growth in Net Income from Operations, and 349% EBITDA Growth Representing the Highest Ever Recorded Quarterly Revenue, Net Income from Operations, and EBITDA
VANCOUVER, BC / ACCESSWIRE / November 2, 2021 / Snipp Interactive Inc. ("Snipp" or the "Comp...
About this update from Snipp Interactive Inc.
[{"type":"text","content":"Snipp Interactive Reports Record Financial Results for Q3 2021 with 154% YoY Quarterly Revenue Growth, 169% Growth in Net Income from Operations, and 349% EBITDA Growth Representing the Highest Ever Recorded Quarterly Revenue, Net Income from Operations, and EBITDAVANCOUVER, BC / ACCESSWIRE / November 2, 2021 / Snipp Interactive Inc. (\"Snipp\" or the \"Company\") (TSXV:SPN)(OTC PINK:SNIPF), a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector announces its financial results for Q3 2021. All results are reported under International Financial Reporting Standards (\"IFRS\") and in US dollars. A copy of the complete unaudited interim financial statements and management's discussion and analysis are available on SEDAR.Q3 2021 Highlights(Refer to Non-GAAP Measures, Gross Margin, EBITDA and Bookings Backlog discussion below)Highest ever recorded quarterly Revenue; Net Income from Operations; and EBITDA.Revenue for Q3 2021 increased by 154% compared to Q3 2020. Revenue for Q3 2021 was $5,416,976 compared to $2,132,521 for Q3 2020.EBITDA in Q3 2021 increased by 349% compared to Q3 2020, an EBITDA improvement of $373,619. Q3 2021 EBITDA was $480,587 vs Q3 2020 EBITDA of $106,968.The Company has been EBITDA positive for the last seven consecutive quarters from Q1 2020 to Q3 2021.Net income from operations for Q3 2021 was positive $165,554 compared to a net loss from operations for Q3 2020 of negative $239,752, a change of 169%.Net income for Q3 2021 was positive $137,869 compared to a net loss for Q3 2020 of negative $211,623, a change of 165%.Gross margin in Q3 2021 was 39% compared to 73% in Q3 2020.Revenue for the nine months ended September 30, 2021 increased by 69% compared to the nine months ended September 30, 2020. Revenue for the nine months ended September 30, 2021 was $11,007,208 compared to revenue for the nine months ended September 30, 2020 of $6,511,414.EBITDA in the nine months ended September 30, 2021 improved by 487% compared to the nine months ended September 30, 2020, an EBITDA improvement of $908,248. For the nine months ended September 30, 2021 EBITDA was $1,094,789 compared to $186,541 for the nine months ended September 30, 2020.Net income for the nine months ended September 30, 2021 increased by 135% to $380,157 compared to a net loss for the nine months ended September 30, 2020 of $1...