OTCMKTS:MFON Mobivity Q2 2023 Earnings Report $0.31 0.00 (0.00%) As of 04/24/2025 11:25 AM Eastern Earnings History Mobivity EPS ResultsActual EPS-$0.03Consensus EPS N/ABeat/MissN/AOne Year Ago EPSN/AMobivity Revenue ResultsActual Revenue$1.86 millionExpected RevenueN/ABeat/MissN/AYoY Revenue GrowthN/AMobivity Announcement DetailsQuarterQ2 2023Date8/14/2023TimeN/AConference Call DateMonday, August 14, 2023Conference Call Time5:00PM ETConference Call ResourcesConference Call AudioConference Call TranscriptPress Release (8-K)Quarterly Report (10-Q)Earnings HistoryCompany ProfilePowered by Mobivity Q2 2023 Earnings Call TranscriptProvided by QuartrAugust 14, 2023 ShareLink copied to clipboard.There are 4 speakers on the call. Operator00:00:00Good afternoon, everyone, and welcome to the Mobivity Second Quarter 2023 Earnings Results Call. Hosting the call today are Tom Aiken, Chairman of the Board Kim Carlson, Chief Operating Officer and Dennis Becker, Chief Executive Officer. Before I turn the call over to management, I'd like to call everyone's attention to the company's Safe Harbor policy. Please note that certain statements made on this call will be forward looking statements, which are subject to considerable risks and uncertainties. We caution you that such statements reflect the management's best judgment based on factors currently known and that the actual results or events could differ materially. Operator00:00:48Please refer to the documents filed by the company from time to time with the SEC and in particular its most recently filed annual report on Form 10 ks. These documents contain and identify important risk Factors and other information that may cause actual results to differ from those contained in the forward looking statements. Any forward looking statements made during this call are being made as of today. If the call is replayed or reviewed after today, the information presented during this call may not contain current or accurate information. Except as required by law, the company assumes no obligation to update these forward looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward looking statements, even if the new information becomes available in the future. Operator00:01:51Today's call may include non GAAP financial measures, which require a reconciliation to the most directly comparable financial measures, which are calculated and presented in accordance with GAAP and can be found in today's press release, along with our recent corporate presentation, which is also available at mobivity.com. With that said, I'd like to turn the call over to Tom Aiken. Tom, the floor is yours. Speaker 100:02:22Thank you, operator, and hello, everyone, and thank you for joining us today for Mobivity's Q2 2023 earnings call. Over the last 18 months under the leadership of Dennis Becker, Mobivity has undertaken the mission Of transforming its business to focus on Connected Rewards, a platform that connects game and app publishers with brands to drive customer acquisition and retention. I want to thank Dennis for his efforts and his leadership In that effort, the response to Connected Rewards has been overwhelmingly positive from both the brands and publishers. Demand is robust and our pipeline and addressable market continues to grow. With Connected Rewards, Game publishers are experiencing positive returns on their ad spend and game install volume has grown In an exciting way, Dennis played a critical role in crystallizing the opportunity, identifying key hires To establish the platform and bringing us to where we are today. Speaker 100:03:37It is because we are so confident in the value of Connected Rewards That we along with Dennis have chosen to find a new leader who can shape the path into this new and exciting market. A formal CEO search is underway for an industry leader to lead the company through the next phase of our evolution And an interim leader will be named in the near term. I will now hand the call over to Dennis for a few comments followed by Kim Carlson, our new COO, who will discuss details of our continued business transformation. Dennis? Speaker 200:04:19Thank you, Tom, for your kind words and recognition. It's been an incredible journey over the last 18 months with From the moment we envisioned Connected Rewards, I knew we were on to something game changing. The fusion of game and app publishers with powerful brand partnerships not only holds the promise to redefine customer acquisition and retention, It also transforms the way consumers interact and engage with their favorite brands. As I transition from my role, My belief in Mobivity's potential and the impact of Connected Rewards has never been stronger. The company has an incredible new management team Leading all key areas of the business and new leadership at the CEO position will bring the necessary domain expertise and fresh perspective To take Mobivity to the next level, I'm so very grateful to our team, partners and shareholders who have steadfastly supported transformation of our business over the past year and a half. Speaker 200:05:19I'll now hand the call over to Kim for a more detailed update on our progress. Speaker 300:05:25Thank you, Dennis. During the Q2, we accelerated the transformation of our business by hiring key leaders across the company in engineering, Product, brand, restaurant strategy and finance that will drive the momentum we are currently experiencing. Each of these executives has the industry expertise and experience to address the markets we serve and advance Connected Bork Rewards to the next stage. With the right people, we are laying the groundwork to accelerate the adoption of Connected Rewards and advance our strategy. We remain committed to further developing Connected Rewards to ignite growth and double our revenue run rate. Speaker 300:06:04This platform is shaping our future and we are increasingly optimistic about the prospects for broader adoption. The addressable market for the Connected Rewards product is massive and we've made significant advancements in product and technology to position ourselves for success. To date, we've launched Connected Rewards for user acquisition, offering real rewards for downloading and playing a game, Connected Rewards for in game achievements, where games offer real world rewards for winning enough games or achieving a certain level An on premises Connected Rewards where real world rewards are offered at the brick and mortar location For downloading a game or interacting with content. Each of these business lines is many times more profitable than our legacy text messaging business, And we expect to see significant growth from these applications and others that will launch through the second half of the year. Moreover, as we scale, we are building a rich database of contact and mobile game preferences that will provide valuable analytics to improve future campaigns and increase the value we provide to our customers. Speaker 300:07:17I'll now turn the call back to Tom for closing remarks. Speaker 100:07:22Thanks, Kim. We chosen not to discuss the financials in detail. Instead, I'll direct you to our press release and the 10 Q. We believe the company is well positioned to capitalize on the advances we've made in the 1st two quarters of this year. We are increasingly optimistic about the prospects for our business given the enormous opportunities to connect brands With game developers and advertisers through Connected Rewards, I am confident that we now have the right people in the right roles As we roll out new capabilities with the platform, we will gain traction and achieve rapid, scalable and sustained growth. Speaker 100:08:08Thanks. I'll turn the call back over to the operator for Q and A, please. Operator00:08:13Thank Well, this concludes our question and answer session. I'd like to turn the conference back over to the management team for any closing remarks. Speaker 100:08:55Well, I want to thank everyone for joining us on today's call and I look forward to updating everyone on our Q3 progress. Thank you much. Operator00:09:06Thank you. This concludes today's conference call. We thank you all for attending today's presentation. You may now disconnect your lines and have a wonderfulRead morePowered by Conference Call Audio Live Call not available Earnings Conference CallMobivity Q2 202300:00 / 00:00Speed:1x1.25x1.5x2x Earnings DocumentsPress Release(8-K)Quarterly report(10-Q) Mobivity Earnings HeadlinesMobivity (OTCMKTS:MFON) Stock Crosses Below 200-Day Moving Average - Here's WhyApril 23 at 3:33 AM | americanbankingnews.comSeasoned AdTech Executive David Simon Joins Mobivity's Board of Directors, Bringing Knowledge and Expertise to Accelerate Growth of Connected RewardsJanuary 23, 2025 | stockhouse.comHere’s How to Claim Your Stake in Elon’s Private Company, xAIElon Musk has done it again. He’s developed a powerful new AI model that’s already turning heads — and turning the industry upside down. Some say it could threaten Google’s search engine dominance. Others believe it could mark the beginning of the end for ChatGPT.April 26, 2025 | Brownstone Research (Ad)Mobivity reports ‘surge’ in Connected Rewards adoption among convience chainsDecember 13, 2024 | finance.yahoo.comMobivity's Connected Rewards Gains Significant Momentum with Convenience Store Retailers in Q4, Expanding National ReachDecember 12, 2024 | globenewswire.comMobivity Holdings Corp Reports Increased Revenue Amidst Financial ChallengesNovember 27, 2024 | markets.businessinsider.comSee More Mobivity Headlines Get Earnings Announcements in your inboxWant to stay updated on the latest earnings announcements and upcoming reports for companies like Mobivity? Sign up for Earnings360's daily newsletter to receive timely earnings updates on Mobivity and other key companies, straight to your email. Email Address About MobivityMobivity (OTCMKTS:MFON) engages in developing and operating proprietary platforms to conduct national and localized, and data-driven marketing campaigns in the United States. The company's Recurrency platform unlocks valuable point of sale systems (POS) and mobile data to help transform customer transactions into actionable and attributable marketing insights and power Connected Rewards interactions. It also operates as a Software-as-a-Service platform used by convenience and quick service restaurant brands to build and engage with their customers; and enables and powers incentivized programs in digital environments. In addition, its platform offers POS data capture, analytics, offers and promotions, predictive offers, personalized receipt promotions, customized mobile messaging, belly loyalty, and other services. It markets and sells its services through direct sales, resellers, and agents, as well as online through its website. 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There are 4 speakers on the call. Operator00:00:00Good afternoon, everyone, and welcome to the Mobivity Second Quarter 2023 Earnings Results Call. Hosting the call today are Tom Aiken, Chairman of the Board Kim Carlson, Chief Operating Officer and Dennis Becker, Chief Executive Officer. Before I turn the call over to management, I'd like to call everyone's attention to the company's Safe Harbor policy. Please note that certain statements made on this call will be forward looking statements, which are subject to considerable risks and uncertainties. We caution you that such statements reflect the management's best judgment based on factors currently known and that the actual results or events could differ materially. Operator00:00:48Please refer to the documents filed by the company from time to time with the SEC and in particular its most recently filed annual report on Form 10 ks. These documents contain and identify important risk Factors and other information that may cause actual results to differ from those contained in the forward looking statements. Any forward looking statements made during this call are being made as of today. If the call is replayed or reviewed after today, the information presented during this call may not contain current or accurate information. Except as required by law, the company assumes no obligation to update these forward looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward looking statements, even if the new information becomes available in the future. Operator00:01:51Today's call may include non GAAP financial measures, which require a reconciliation to the most directly comparable financial measures, which are calculated and presented in accordance with GAAP and can be found in today's press release, along with our recent corporate presentation, which is also available at mobivity.com. With that said, I'd like to turn the call over to Tom Aiken. Tom, the floor is yours. Speaker 100:02:22Thank you, operator, and hello, everyone, and thank you for joining us today for Mobivity's Q2 2023 earnings call. Over the last 18 months under the leadership of Dennis Becker, Mobivity has undertaken the mission Of transforming its business to focus on Connected Rewards, a platform that connects game and app publishers with brands to drive customer acquisition and retention. I want to thank Dennis for his efforts and his leadership In that effort, the response to Connected Rewards has been overwhelmingly positive from both the brands and publishers. Demand is robust and our pipeline and addressable market continues to grow. With Connected Rewards, Game publishers are experiencing positive returns on their ad spend and game install volume has grown In an exciting way, Dennis played a critical role in crystallizing the opportunity, identifying key hires To establish the platform and bringing us to where we are today. Speaker 100:03:37It is because we are so confident in the value of Connected Rewards That we along with Dennis have chosen to find a new leader who can shape the path into this new and exciting market. A formal CEO search is underway for an industry leader to lead the company through the next phase of our evolution And an interim leader will be named in the near term. I will now hand the call over to Dennis for a few comments followed by Kim Carlson, our new COO, who will discuss details of our continued business transformation. Dennis? Speaker 200:04:19Thank you, Tom, for your kind words and recognition. It's been an incredible journey over the last 18 months with From the moment we envisioned Connected Rewards, I knew we were on to something game changing. The fusion of game and app publishers with powerful brand partnerships not only holds the promise to redefine customer acquisition and retention, It also transforms the way consumers interact and engage with their favorite brands. As I transition from my role, My belief in Mobivity's potential and the impact of Connected Rewards has never been stronger. The company has an incredible new management team Leading all key areas of the business and new leadership at the CEO position will bring the necessary domain expertise and fresh perspective To take Mobivity to the next level, I'm so very grateful to our team, partners and shareholders who have steadfastly supported transformation of our business over the past year and a half. Speaker 200:05:19I'll now hand the call over to Kim for a more detailed update on our progress. Speaker 300:05:25Thank you, Dennis. During the Q2, we accelerated the transformation of our business by hiring key leaders across the company in engineering, Product, brand, restaurant strategy and finance that will drive the momentum we are currently experiencing. Each of these executives has the industry expertise and experience to address the markets we serve and advance Connected Bork Rewards to the next stage. With the right people, we are laying the groundwork to accelerate the adoption of Connected Rewards and advance our strategy. We remain committed to further developing Connected Rewards to ignite growth and double our revenue run rate. Speaker 300:06:04This platform is shaping our future and we are increasingly optimistic about the prospects for broader adoption. The addressable market for the Connected Rewards product is massive and we've made significant advancements in product and technology to position ourselves for success. To date, we've launched Connected Rewards for user acquisition, offering real rewards for downloading and playing a game, Connected Rewards for in game achievements, where games offer real world rewards for winning enough games or achieving a certain level An on premises Connected Rewards where real world rewards are offered at the brick and mortar location For downloading a game or interacting with content. Each of these business lines is many times more profitable than our legacy text messaging business, And we expect to see significant growth from these applications and others that will launch through the second half of the year. Moreover, as we scale, we are building a rich database of contact and mobile game preferences that will provide valuable analytics to improve future campaigns and increase the value we provide to our customers. Speaker 300:07:17I'll now turn the call back to Tom for closing remarks. Speaker 100:07:22Thanks, Kim. We chosen not to discuss the financials in detail. Instead, I'll direct you to our press release and the 10 Q. We believe the company is well positioned to capitalize on the advances we've made in the 1st two quarters of this year. We are increasingly optimistic about the prospects for our business given the enormous opportunities to connect brands With game developers and advertisers through Connected Rewards, I am confident that we now have the right people in the right roles As we roll out new capabilities with the platform, we will gain traction and achieve rapid, scalable and sustained growth. Speaker 100:08:08Thanks. I'll turn the call back over to the operator for Q and A, please. Operator00:08:13Thank Well, this concludes our question and answer session. I'd like to turn the conference back over to the management team for any closing remarks. Speaker 100:08:55Well, I want to thank everyone for joining us on today's call and I look forward to updating everyone on our Q3 progress. Thank you much. Operator00:09:06Thank you. This concludes today's conference call. We thank you all for attending today's presentation. You may now disconnect your lines and have a wonderfulRead morePowered by