OTCMKTS:MFON Mobivity Q2 2024 Earnings Report $0.31 0.00 (0.00%) As of 04/25/2025 Earnings History Mobivity EPS ResultsActual EPS-$0.04Consensus EPS N/ABeat/MissN/AOne Year Ago EPSN/AMobivity Revenue ResultsActual Revenue$1.47 millionExpected RevenueN/ABeat/MissN/AYoY Revenue GrowthN/AMobivity Announcement DetailsQuarterQ2 2024Date8/14/2024TimeN/AConference Call DateWednesday, August 14, 2024Conference Call Time4:30PM ETConference Call ResourcesConference Call AudioConference Call TranscriptPress Release (8-K)Quarterly Report (10-Q)Earnings HistoryCompany ProfilePowered by Mobivity Q2 2024 Earnings Call TranscriptProvided by QuartrAugust 14, 2024 ShareLink copied to clipboard.There are 5 speakers on the call. Operator00:00:00Good afternoon, everyone, and welcome to Mobivity Second Quarter 2024 Earnings Results Call. Hosting the call today are Bryce Daniels, President and Kim Carlson, Chief Operating 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 the actual results or events could differ materially. Operator00:00:26Please refer to the documents filed with the company from time to time with the SEC and in particular its most recently filed Annual Report Form 10 ks. Those 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, August 14. 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 forward looking statements, even as the new information becomes available in the future. Operator00:01:04Today's call may include non GAAP financial measures, which require a reconciliation to the most direct 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 Bryce Daniels, Mobivity's newly appointed President. Bryce, the floor is yours. Speaker 100:01:23Thank you, Brett, and good afternoon, everyone. We appreciate you all joining us today for Mobivity's Q2 2024 earnings conference call. For investors new to our story, Mobivity is a marketing technology company that connects brick and mortar brands to digital audiences and vice versa. Our Connected Rewards platform drives valuable customers and users between in person and digital environments in all possible channels, and we generate high margin revenue from powering those interactions. I'm pleased to report that Q2 2024 was another quarter of significant growth and progress for Mobivity's Connected Rewards platform. Speaker 100:01:59Some key highlights from Q2 are: we announced a strategic technical integration and partnership with Patronix, a leading provider of loyalty and payment technology to brick and mortar brands. Our integration and partnership make a brand's integration with our platform nearly seamless. This enables us to quickly bring thousands of Patronix customers to Mobivity, which can deliver material scale in Q3 and Q4. We expect to announce similar partnerships with other premier loyalty providers in the near future. We grew revenue in our Connected Rewards business by approximately 20 percent compared to Q1 2024. Speaker 100:02:34This marks 3 quarters in a row of growth at that level and we expect that to accelerate. Our audience reach expanded by about 40% and the number of active programs increased by roughly 10%. We added a substantial number of new brands to the platform and nearly doubled our pipeline since Q1. Revenue per action taken continues to climb as our programs continue to outpace all performance measures, delivering exceptional results for both our brand and game publishing partners. I want to emphasize that we expect to be 100% focused on Connected Rewards by the end of Q3. Speaker 100:03:12We've continued to reshape and right size our company to fit this framework. While there's still more to do, we're very pleased with the progress that we've made in transforming Mobivity. Our success continues to be driven by the simple yet powerful formula I've highlighted before. Mobivity's revenue is the product of our audience size, conversion rates and revenue per action. In Q2, we made substantial progress on all three growth levers and showed increasing results for our partners, giving us even greater confidence in our continued growth trajectory. Speaker 100:03:43With that, I'll now hand the call over to Kim Carlson, our COO, for more details on our Q2 operational progress and outlook. Kim? Speaker 200:03:51Thank you, Our performance based channel is resonating strongly in this market. Our performance based channel is resonating strongly in this market as evidenced by our Q2 results. In Q2, we continue to see exceptional results from our Connected Rewards program. Though still in the early innings, the 20% quarter over quarter revenue growth in this segment underscores the increasing market adoption of our platform. Our partnership with Patronix potentially opens up thousands of new customer opportunities and streamlines our integration process to many more potential product applications. Speaker 200:04:33This partnership is already delivering results and as we add more valuable partners, we expect to see material results in Q3 and Q4. The nearly 40% growth in our audience reach and 10% increase in active programs demonstrate the scalability of our platform. As we expand our brand partnerships and deepen our relationships with game publishers, we're creating a virtuous growth cycle that has been proven in our partnership with national brands like Chevron and Marathon and has recently shown promising results for regional convenience brands like TXB and Yes Way. We've leveraged these results to build our pipeline, which has almost doubled since Q1 and is, I'm happy to say, more robust than ever. This gives us confidence in our ability to continue scaling rapidly through the remainder of 2024 and beyond. Speaker 200:05:28As we progress through the year, our focus remains on optimizing our platform, expanding our partnership and capitalizing on the vast potential in the mobile user acquisition and retention market. The transition to being 100% focused on Connected Rewards by the end of Q3 will further streamline our operations and accelerate our growth in this high potential segment. With that, I'll return the call to Bryce for his closing remarks. Speaker 100:05:57Thank you, Kim. In summary, Q2 represented another quarter of solid growth and strategic progress for Mobivity. The continued expansion of our Connected Rewards business, though still in the early stages, coupled with our Patheonix partnership and growing pipeline, positions us well for accelerated growth in the second half of twenty twenty four and the coming years. Our transition to a pure play Connected Rewards company is nearly complete and we're excited about the opportunities this focus will bring. Connected Rewards offers a powerful new approach to driving customer engagement, represents a massive market opportunity, and Mobivity is the best position to capture this market. Speaker 100:06:34As always, we direct investors to our public filings for detailed financials. Operator, please open the call for questions. Speaker 300:06:43Thank you. Ladies and gentlemen, we will now begin the question and answer And your first question comes from Bob Verlacher. Please go ahead. Your line is open. Speaker 400:08:19I'm sorry, can you hear me now? Speaker 100:08:22Yes, we can hear you now, Bob. Speaker 400:08:24Okay. Sorry, Bryce. Can you break out or give us any indication of the $1,400,000 roughly $1,500,000 for the quarter? What percentage is your legacy type SMS business versus the Connected Rewards business? Speaker 100:08:44Yes, without going into too many specifics there, we're kind of onetwo thirds, onethree split at this point with our legacy to our Connected Rewards business. So still in the early innings of Connected Rewards, but we see as we mentioned in our prepared remarks, we see positive signs of growth in all the factors that would lead to substantial revenue growth and we expect to see that grow pretty materially through the end of the year. Materially through the end of the year. Speaker 400:09:15Okay. Thank you. Speaker 300:09:43And there are no further questions at this time. 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 100:09:54I'd just like to say thanks everybody for your support and we look forward to updating everybody on our continued progress through the end of the year. And thank you very much. Speaker 300:10:08Ladies and gentlemen, this concludes today's conference. We thank you for participating and ask that you please disconnect your lines.Read morePowered by Conference Call Audio Live Call not available Earnings Conference CallMobivity Q2 202400:00 / 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, xAII predict this single breakthrough could make Elon the world’s first trillionaire — and mint more new millionaires than any tech advance in history. And for a limited time, you have the chance to claim a stake in this project, even though it’s housed inside Elon’s private company, xAI.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 5 speakers on the call. Operator00:00:00Good afternoon, everyone, and welcome to Mobivity Second Quarter 2024 Earnings Results Call. Hosting the call today are Bryce Daniels, President and Kim Carlson, Chief Operating 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 the actual results or events could differ materially. Operator00:00:26Please refer to the documents filed with the company from time to time with the SEC and in particular its most recently filed Annual Report Form 10 ks. Those 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, August 14. 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 forward looking statements, even as the new information becomes available in the future. Operator00:01:04Today's call may include non GAAP financial measures, which require a reconciliation to the most direct 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 Bryce Daniels, Mobivity's newly appointed President. Bryce, the floor is yours. Speaker 100:01:23Thank you, Brett, and good afternoon, everyone. We appreciate you all joining us today for Mobivity's Q2 2024 earnings conference call. For investors new to our story, Mobivity is a marketing technology company that connects brick and mortar brands to digital audiences and vice versa. Our Connected Rewards platform drives valuable customers and users between in person and digital environments in all possible channels, and we generate high margin revenue from powering those interactions. I'm pleased to report that Q2 2024 was another quarter of significant growth and progress for Mobivity's Connected Rewards platform. Speaker 100:01:59Some key highlights from Q2 are: we announced a strategic technical integration and partnership with Patronix, a leading provider of loyalty and payment technology to brick and mortar brands. Our integration and partnership make a brand's integration with our platform nearly seamless. This enables us to quickly bring thousands of Patronix customers to Mobivity, which can deliver material scale in Q3 and Q4. We expect to announce similar partnerships with other premier loyalty providers in the near future. We grew revenue in our Connected Rewards business by approximately 20 percent compared to Q1 2024. Speaker 100:02:34This marks 3 quarters in a row of growth at that level and we expect that to accelerate. Our audience reach expanded by about 40% and the number of active programs increased by roughly 10%. We added a substantial number of new brands to the platform and nearly doubled our pipeline since Q1. Revenue per action taken continues to climb as our programs continue to outpace all performance measures, delivering exceptional results for both our brand and game publishing partners. I want to emphasize that we expect to be 100% focused on Connected Rewards by the end of Q3. Speaker 100:03:12We've continued to reshape and right size our company to fit this framework. While there's still more to do, we're very pleased with the progress that we've made in transforming Mobivity. Our success continues to be driven by the simple yet powerful formula I've highlighted before. Mobivity's revenue is the product of our audience size, conversion rates and revenue per action. In Q2, we made substantial progress on all three growth levers and showed increasing results for our partners, giving us even greater confidence in our continued growth trajectory. Speaker 100:03:43With that, I'll now hand the call over to Kim Carlson, our COO, for more details on our Q2 operational progress and outlook. Kim? Speaker 200:03:51Thank you, Our performance based channel is resonating strongly in this market. Our performance based channel is resonating strongly in this market as evidenced by our Q2 results. In Q2, we continue to see exceptional results from our Connected Rewards program. Though still in the early innings, the 20% quarter over quarter revenue growth in this segment underscores the increasing market adoption of our platform. Our partnership with Patronix potentially opens up thousands of new customer opportunities and streamlines our integration process to many more potential product applications. Speaker 200:04:33This partnership is already delivering results and as we add more valuable partners, we expect to see material results in Q3 and Q4. The nearly 40% growth in our audience reach and 10% increase in active programs demonstrate the scalability of our platform. As we expand our brand partnerships and deepen our relationships with game publishers, we're creating a virtuous growth cycle that has been proven in our partnership with national brands like Chevron and Marathon and has recently shown promising results for regional convenience brands like TXB and Yes Way. We've leveraged these results to build our pipeline, which has almost doubled since Q1 and is, I'm happy to say, more robust than ever. This gives us confidence in our ability to continue scaling rapidly through the remainder of 2024 and beyond. Speaker 200:05:28As we progress through the year, our focus remains on optimizing our platform, expanding our partnership and capitalizing on the vast potential in the mobile user acquisition and retention market. The transition to being 100% focused on Connected Rewards by the end of Q3 will further streamline our operations and accelerate our growth in this high potential segment. With that, I'll return the call to Bryce for his closing remarks. Speaker 100:05:57Thank you, Kim. In summary, Q2 represented another quarter of solid growth and strategic progress for Mobivity. The continued expansion of our Connected Rewards business, though still in the early stages, coupled with our Patheonix partnership and growing pipeline, positions us well for accelerated growth in the second half of twenty twenty four and the coming years. Our transition to a pure play Connected Rewards company is nearly complete and we're excited about the opportunities this focus will bring. Connected Rewards offers a powerful new approach to driving customer engagement, represents a massive market opportunity, and Mobivity is the best position to capture this market. Speaker 100:06:34As always, we direct investors to our public filings for detailed financials. Operator, please open the call for questions. Speaker 300:06:43Thank you. Ladies and gentlemen, we will now begin the question and answer And your first question comes from Bob Verlacher. Please go ahead. Your line is open. Speaker 400:08:19I'm sorry, can you hear me now? Speaker 100:08:22Yes, we can hear you now, Bob. Speaker 400:08:24Okay. Sorry, Bryce. Can you break out or give us any indication of the $1,400,000 roughly $1,500,000 for the quarter? What percentage is your legacy type SMS business versus the Connected Rewards business? Speaker 100:08:44Yes, without going into too many specifics there, we're kind of onetwo thirds, onethree split at this point with our legacy to our Connected Rewards business. So still in the early innings of Connected Rewards, but we see as we mentioned in our prepared remarks, we see positive signs of growth in all the factors that would lead to substantial revenue growth and we expect to see that grow pretty materially through the end of the year. Materially through the end of the year. Speaker 400:09:15Okay. Thank you. Speaker 300:09:43And there are no further questions at this time. 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 100:09:54I'd just like to say thanks everybody for your support and we look forward to updating everybody on our continued progress through the end of the year. And thank you very much. Speaker 300:10:08Ladies and gentlemen, this concludes today's conference. We thank you for participating and ask that you please disconnect your lines.Read morePowered by