Mobivity Announces Third Quarter 2023 Financial Results
November 14, 2023 at 04:06 pm EST
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PHOENIX, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Mobivity Holdings Corp. (OTCQB:MFON), global provider of personalized reward solutions that drive customer acquisition, frequency, and spend, today announced financial results for the third quarter ended September 30, 2023.
Third Quarter 2023 Financial Highlights
Revenues of $1.6 million compared to $1.9 million in Q3 2022.
Gross profit margin improved to 29% compared to 4% in Q3 2022.
Cash and cash equivalents totaled $0.5 million compared to $0.4 million at December 31, 2022.
Adjusted EBITDA, excluding certain non-cash expenses, was ($2.1) million compared to ($2.3) million in Q3 2022.
Third Quarter 2023 Business Highlights
Expanded the product offerings and addressable market of our Connected Rewards business by multiples.
Launched new programs that show predictable and repeatable growth with premier brand partners.
Optimized the structure of the business to fit the future of Mobivity.
Conference Call Mobivity will host a conference call at 4:15 p.m. ET on November 14, 2023.
Date:
Tuesday, November 14, 2023
Time:
4:15 p.m. Eastern Time (ET)
Dial in Number for U.S. Callers:
1-888-886-7786
Dial in Number for International Callers:
1-416-764-8658
Please Reference Conference ID:
18371223
The call will also be accompanied live by webcast over the Internet and accessible at https://viavid.webcasts.com/starthere.jsp?ei=1643433&tp_key=ed00baea12. To join the live conference call, please dial in to the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time.
A replay will be available for two weeks starting on November 14, 2023 at approximately 7:15 p.m. ET. To access the replay, please dial 1-844-512-2921 in the U.S. and 1- 412-317-6671 for international callers. The conference ID# is 18371223. The replay will also be available on the Company’s website under the investor relations section.
Non-GAAP Measurements This press release includes certain financial information which constitutes "non-GAAP financial measures" as defined by the SEC. A full reconciliation of the non- GAAP measures to GAAP can be found in the tables of today's press release. Non-GAAP adjusted net income is supplemental to results presented under accounting principles generally accepted in the United States of America ("GAAP") and may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures are used by management to facilitate period-to-period comparisons and analysis of Mobivity's operating performance and liquidity. Management believes these non-GAAP measures are useful to investors in trending, analyzing and benchmarking the performance and value of Mobivity's business. These non- GAAP measures should be considered in addition to, but not as a substitute for, other similar measures reported in accordance with GAAP.
AboutMobivity Mobivity’s cloud-based Connected Rewards™ technology delivers billions of offers and promotions through its Recurrency platform, building large, owned audiences for some of the world’s biggest brands. Through its partnerships with leading game publishers, digital operators, and ad networks, Mobivity connects a massive universe of consumers to its broad network of brands. As a result, digital consumers download and play more games, and earn real-world rewards that are redeemed in-store, driving acquisition, frequency, and retention for brands and game publishers. For more information about Mobivity, visit or call (877) 282-7660.
Mobivity Holdings Corp. is a provider of technology connecting mobile gaming audiences to brands and products. The Companyâs cloud-based Connected Rewards technology delivers consumer offers and rewards by connecting retail, restaurant, and convenience brand offers to gameplay in mobile games. Through its partnerships with game publishers, developers, and ad networks, the Company connects the universe of mobile game consumers to its broad network of brands. Through Connected Rewards, game developers attract more players to their games, brands experience more traffic from players redeeming their brand offers in-store and online, and consumers get rewards from brands by playing mobile games. Its recurrency platform is delivered as a software-as-a-service (SaaS) platform used by convenience and quick service restaurant brands to build and engage with their customers. Through its Connected Rewards business, its platform provides incentivized programs in digital environments.