$SBIG

SBIG Holdings, Inc.

CIK:0001801602|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenues	$ 4,429	$ 5,837	$ 9,873	$ 11,350
Cost of revenues	1,568	1,499	3,426	2,705
Gross profit	2,861	4,338	6,447	8,645
Expenses
Selling, servicing and marketing	787	1,147	1,456	2,206
Technology and software development	972	1,233	2,201	2,504
General and administrative	1,121	2,684	2,948	5,089
Total operating expenses	2,880	5,064	6,605	9,799
Loss from operations	(19)	(726)	(158)	(1,154)
Other income/ (expense):
Interest income		33		33
Interest expense	(2,340)	(317)	(2,695)	(640)
Loss on asset disposal		(131)		(131)
Change in fair value of warrants	6		6
Total other income/ (expense)	(2,334)	(415)	(2,689)	(738)
Loss before income taxes	(2,353)	(1,141)	(2,847)	(1,892)
Income taxes expense
Net loss	$ (2,353)	$ (1,141)	$ (2,847)	$ (1,892)
Net loss per common share:
Basic (in Dollars per share)	$ (0.05)	$ (0.02)	$ (0.06)	$ (0.04)
Diluted (in Dollars per share)	$ (0.05)	$ (0.02)	$ (0.06)	$ (0.04)
Weighted-average common shares outstanding:
Basic (in Shares)	48,787,391	46,829,586	48,674,455	46,609,898
Diluted (in Shares)	48,787,391	46,829,586	48,674,455	46,609,898

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (2,847)	$ (1,892)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Loss on asset disposal		131
Non-cash interest expense	2,646	469
Depreciation and amortization	10	62
Amortization of debt financing costs	34	35
Stock-based compensation expense	116	336
Credit loss expense	280	220
Amortization of operating lease right of use assets	108	183
Change in fair value of warrants	(6)
Changes in operating assets and liabilities:
Accounts receivable	498	(143)
Prepaid expenses and other current assets	(300)	(169)
Contract assets	6	26
Accounts payable and other liabilities	(1,590)	1,305
Operating lease liabilities	(112)	(345)
Net cash provided by (used in) operating activities	(1,157)	218
Cash flows from investing activities
Purchases of property and equipment	(3)	(14)
Net cash used in investing activities	(3)	(14)
Cash flows from financing activities
Net increase in cash and cash equivalents	(1,160)	204
Cash and cash equivalents, at beginning of the period	1,500	1,179
Cash and cash equivalents, at end of the period	340	1,383
Supplemental cash flows disclosures
Interest paid	136	170
Obtaining a right-of-use asset in exchange for a lease liability		310
Right-of-use asset derecognized in connection with early lease termination		2,413
Amount added to principal for non-cash interest on Convertible Notes	$ 502	$ 331

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 340	$ 1,500
Accounts receivable, net of allowance of $490 and $300, respectively	1,225	2,003
Contract assets	161	167
Prepaid expenses and other current assets	807	507
Total current assets	2,533	4,177
Right of use asset	257	365
Goodwill	17	17
Property and equipment, net	63	70
Total assets	2,870	4,629
Current liabilities:
Accounts payable	1,293	1,665
Accrued expenses and other current liabilities	4,776	3,851
Deferred payroll tax credits	1,979	1,979
Debt, current	9,774
Operating lease liability, current	167	215
Total current liabilities	17,989	7,710
Long-term debt, non-current		9,237
Operating lease liability, non-current	90	154
Warrant liabilities	10	16
Total liabilities	18,089	17,117
Stockholders’ Deficit
Common stock par value $0.0001 per share, 300,000,000 authorized at June 30, 2026; 48,795,266 issued and outstanding as of June 30, 2026; 300,000,000 authorized at December 31, 2025; 48,548,772 issued and outstanding as of December 31, 2025	4	4
Additional paid-in-capital	29,312	29,196
Accumulated deficit	(44,535)	(41,688)
Total stockholders’ deficit	(15,219)	(12,488)
Total liabilities and stockholders’ deficit	$ 2,870	$ 4,629