Snipp Interactive Reports Preliminary Unaudited Financial Results for Q4 2021

About this update from Snipp Interactive Inc.

Snipp Interactive Reports Preliminary Unaudited Financial Results for Q4 2021VANCOUVER, BC / ACCESSWIRE / January 25, 2022 / 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 preliminary, unaudited financial results for Q4 2021. The Company is currently in the process of having its full fiscal 2021 financial results audited. All results are reported under International Financial Reporting Standards ("IFRS") and in US dollars.Q4 2021 Financial Highlights - based on preliminary unaudited results(Refer to Non-GAAP Measures, Gross Margin, EBITDA and Bookings Backlog discussion below)EBITDA in Q4 2021 improved by over 300% as compared to Q4 2020, an EBITDA improvement of over $500,000. Q4 2021 EBITDA is forecast to be greater than $700,000 vs Q4 2020 EBITDA of $159,612.The Company also expects EBITDA growth of over 400% on a full year basis to over $1,800,000 as compared to full year EBITDA in 2020 of $346,153.Revenue for Q4 2021 increased by 100% compared to Q4 2020. Revenue for Q4 2021 is forecast to be over $4,000,000, as compared to revenue for Q4 2020 of $2,180,860.Gross margin in Q4 2021 was above 60%.Bookings backlog at December 31, 2021, hit a record of over $10,000,000, representing the highest backlog in the Company's history.Q4 Operating HighlightsTop 5 US technology company in the Fortune 50 approves Snipp as a Global Supplier and issues first orders to cover multi-country deployments.Fortune 50 CPG company places renewal orders for H1 2022. Over $2.5MM billed over 3-year relationship.Top 5 Most Valuable Food Brand company in Fortune 250 signs 3rd six figure contract.Appointment of new Board Member - Brian Tunick, nine-time award winning Wall Street Analyst in the Consumer/Retail space.Launch of first phase of $1.5MM+ program with leading Global Digital Market Research company.Snipp added to the S&P/TSX Venture Composite Index.Snipp completes SOC Type 1 certification, a technical auditing process that measures the availability, security, and integrity of an organization's data processing systems."Q4 marked the end of what was an extremely busy quarter. Despite the continued and profound challenges posed by the resurgence of the Covid-19 pandemic, I am very proud of our team's dedication and focus on executing our strateg...

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