Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
SpringBig Holdings, Inc. is a U.S.-based software-as-a-service company that provides customer relationship management and digital marketing solutions primarily to regulated industries, with a core focus on the legal cannabis market. The company operates at the intersection of marketing technology and compliance, offering tools that enable cannabis retailers and brands to engage consumers through data-driven, permission-based communications while adhering to federal and state regulations that restrict traditional digital advertising.
The company’s primary revenue is generated through subscription-based access to its platform, which integrates loyalty programs, SMS and email marketing, customer analytics, and point-of-sale data connectivity. SpringBig’s strategic positioning centers on its early specialization in cannabis-compliant marketing technology, particularly its scale and experience in SMS-based engagement within a highly regulated environment. SpringBig was founded in 2012 and grew organically and through acquisitions before going public via a special purpose acquisition company (SPAC) merger in 2021, after which it operated as a publicly traded entity under the ticker SBIG.
Business Operations
SpringBig’s operations are centered on a single core operating segment focused on marketing automation and customer data platforms for cannabis retailers and consumer brands. Its flagship platform, SpringBig, allows clients to manage loyalty programs, segment customers, and deliver targeted promotional campaigns using SMS and email, with functionality designed to comply with cannabis advertising regulations. Revenue is primarily recurring and subscription-based, supplemented by usage-based messaging fees.
The company’s customer base has historically consisted of multi-state operators, single-location dispensaries, and cannabis brands across legalized U.S. markets. Operations are predominantly domestic, with technology development, sales, and customer support conducted within the United States. SpringBig has relied on integrations with third-party point-of-sale systems commonly used in cannabis retail to maintain its platform’s relevance and interoperability rather than owning proprietary hardware or retail infrastructure.
Strategic Position & Investments
SpringBig’s strategic direction has emphasized deepening penetration within existing cannabis markets, expanding wallet share among enterprise clients, and enhancing platform functionality through data analytics and automation. Prior to its financial restructuring, growth initiatives included increasing enterprise-level customers, improving customer retention, and leveraging scale to reduce per-message delivery costs associated with SMS marketing.
The company pursued inorganic growth earlier in its history, including the acquisition of Sprout, a cannabis-focused loyalty and marketing platform, which expanded SpringBig’s customer base and product capabilities. In 2023, SpringBig filed for Chapter 11 bankruptcy protection, reflecting financial and liquidity challenges tied to customer churn, industry pricing pressure, and broader volatility in the legal cannabis sector. Data inconclusive based on available public sources regarding the long-term status of all subsidiaries and post-restructuring ownership structure.
Geographic Footprint
SpringBig’s operational footprint is concentrated in North America, with its headquarters located in Florida, United States. The company’s customers are distributed across multiple U.S. states where medical or adult-use cannabis is legal, including major markets such as California, Florida, Massachusetts, and Illinois.
While the company does not report material international operations, its influence extends across the U.S. cannabis ecosystem through software deployments used by operators in dozens of state-regulated markets. There is no verified evidence of significant direct revenue generation or physical operations outside the United States.
Leadership & Governance
SpringBig was founded by industry entrepreneurs with backgrounds in digital marketing and technology, and its leadership team has historically emphasized compliance-first innovation, scalability, and data-driven customer engagement as core elements of the company’s strategic vision. Governance and executive leadership have evolved since the company’s public listing and subsequent restructuring.
Key executives publicly associated with SpringBig include:
- Jeffrey Harris – Chief Executive Officer
- Peter Manion – Chief Financial Officer
- Nathan Friedman – Co-Founder and Chief Strategy Officer
- Matthew Thompson – Chief Technology Officer
Leadership has consistently articulated a strategy focused on serving regulated markets with specialized software solutions while navigating the operational and capital constraints unique to the cannabis industry.