Snipp Interactive (SPN) Q2 2026 earnings summary

Executive summary

• Q2 revenue reached $6 million, up 24.6% year-over-year and 19% sequentially, marking the highest quarter in five.

• Positive EBITDA of $0.2 million in Q2, reversing a $1.2 million loss from last year and improving $1.5 million year-over-year.

• Net loss narrowed by 89% year-over-year to $0.2 million, and improved 73% sequentially.

• Bookings backlog at quarter-end was $19.1 million, up 25.7% year-over-year but down from $20.6 million in Q1 as contracts converted to revenue.

• AI-driven productivity gains and cost actions led to an 18% reduction in salaries and compensation.

Financial highlights

• Q2 revenue: $6 million (+24.6% YoY, +19.2% QoQ); H1 revenue: $11.1 million (-1.5% YoY).

• Gross margin: $3.3 million (55% of revenue) in Q2, up from 52.1% last year; H1 gross margin: 57.2%.

• Operating expenses: $6.2 million in Q2, down 3% YoY; H1 operating expenses down 8%.

• EBITDA: $0.2 million positive in Q2; H1 EBITDA loss: $0.1 million.

• Net loss: $0.2 million in Q2, improved from $1.7 million last year; H1 net loss: $0.9 million.

• Cash flow from operations: $556,012 positive for H1.

Outlook and guidance

• Macro environment remains challenging with tariff-driven budget caution and program timing deferrals.

• No forecast for a near-term inflection; sustained profitable growth targeted for 2027.

• Backlog expected to remain stable through year-end; focus on converting backlog and maintaining cost discipline.

• AI-driven cost efficiencies expected to further impact results from Q3 onward.