10-Q · May 14, 2026
SpringBig Holdings, Inc. reported revenue of $5.4 million for the three months ended March 31, 2026, a slight decrease of 1% compared to the prior year. While operating expenses decreased significantly, the company…
Earnings analysis · 10-Q
SBIG earnings analysis
Filed August 19, 2026 · Our reading of the company's report
The latest report
The filing reflects a fundamental wind-down rather than a normal operating quarter: on July 13, 2026, SpringBig transferred its operating subsidiary and was released from approximately $12.5 million of secured-note…
Read full summary
The filing reflects a fundamental wind-down rather than a normal operating quarter: on July 13, 2026, SpringBig transferred its operating subsidiary and was released from approximately $12.5 million of secured-note obligations. The company retained only approximately $172 thousand in cash consideration and now depends on completing a strategic business combination to avoid liquidation. The filing excerpt does not disclose current-period revenue, margins, EPS, cash flow, balance-sheet totals, or segment results, so those metrics are null.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Operating business transferred
On July 13, 2026, the company transferred all equity interests in SpringBig, Inc., its operating subsidiary, and was released from approximately $12.5 million of principal and accrued interest under the secured notes.
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Minimal remaining cash
Following the reorganization, remaining assets consisted primarily of approximately $172 thousand in cash consideration, with the company no longer owning its former operating business.
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Disclosure controls effective
The company’s CEO and CFO concluded that disclosure controls and procedures were effective as of June 30, 2026; no material change in internal control occurred during the three months ended June 30, 2026.
What to watch
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Going-concern and liquidation risk
The company states that its ability to continue as a going concern depends on identifying and consummating a strategic business combination or other transaction. If unsuccessful, it will likely liquidate and wind up its affairs; remaining cash was approximately $172 thousand.
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Debt default and creditor remedies
As of June 30, 2026, the company was in default under secured notes with approximately $9.8 million of outstanding principal. Noteholders received a default notice on April 21, 2026 and began exercising remedies on May 15, 2026, including control over SpringBig, Inc.
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Potential substantial share dilution
The former CEO’s April 1, 2026 agreements included a grant of 12,891,251 restricted shares, which have not been issued. If the company’s position is rejected, the issuance could materially increase shares outstanding and pressure the stock price; the separation agreement also provided a $50,000 cash payment.
Management's outlook
No quantitative revenue or EPS guidance was provided. Management states it intends to pursue a strategic business combination; if unsuccessful, it will likely liquidate and wind up its affairs.
Earlier filings 4
10-K · May 2, 2026
SpringBig Holdings, Inc. faced significant challenges as it combats a Notice of Default from holders of its Secured Term Notes and Convertible Notes, with allegations concerning a minimum cash covenant breach. Despite…
10-K · March 27, 2026
The 10-K positions SpringBig as a market-leading SaaS loyalty and marketing platform for cannabis retailers/brands, serving approximately 775 clients across ~2,400 retail locations and reporting >600 million messages…
10-Q · November 14, 2025
SpringBig reported Q3 2025 revenue of $5,871,000, down versus Q3 2024's $6,144,000, but swung to net income of $219,000 (EPS $0.00) from a loss of $554,000 (EPS $(0.01)) in the year-ago quarter. Management reduced…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.