Snipp Interactive Reports Preliminary Unaudited Financial Results for Q4 2021

VANCOUVER, 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 Highlights

• Top 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 3^rd 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 strategy. This led to an epic fourth quarter of growth, which clearly demonstrates how far we have come and how strong our foundation is heading into 2022. We have continued to see these trends throughout January, giving us even more confidence in the sustainability of our current growth trajectory, not only from selling to new clients and industries, but from increasing our sales with existing clients at home and overseas. Our strong debt free balance sheet provides us with flexibility to add elements to our strategy in unparalleled and transformational ways. Our recent announcement on acquiring Gambit Rewards is one such example of the steps we are taking to enhance our strategy of profitable growth. We look forward to sharing more on Gambit Rewards and how it will further strengthen our ability to offer more solutions around our platform to our existing clients, as well as attracting a new genre of clients that will further drive our expansion, both in the short and long term." said Atul Sabharwal, Founder of Snipp.