Snipp Interactive (TSE:SPN) has released an update.
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Snipp Interactive Inc. reported a 29% decrease in revenue for Q1 2024 compared to the same period last year, largely due to the end of a single inherited contract. Despite this, the company saw a significant increase in gross margin to 54% and a reduction in EBITDA loss, while maintaining a strong bookings backlog showing a 12% increase. Snipp, debt-free with $4.2 million in cash reserves, is focusing on high-margin contracts and expects further margin improvements.
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