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Mobivity Holdings Corp. (MFON)

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  • Large Global Convenience Store Brand Selects Mobivity to Power Mobile Messaging Program
    GlobeNewswire

    Large Global Convenience Store Brand Selects Mobivity to Power Mobile Messaging Program

    Adds Second Major Customer Vertical, Significantly Expanding Mobivity’s Addressable MarketPHOENIX, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Mobivity Holdings Corp. (OTCQB: MFON) a global provider of personalized customer engagement solutions that increase customer engagement through mobile messaging and personalized digital offers, and drives digital transformation for restaurants, retail and personal care brands, today announced that it has been selected to power mobile messaging programs for one of the largest operators of convenience store brands around the globe. This new relationship in a new market vertical validates the broad appeal for Mobivity’s technology and solutions in the post-COVID-19 digital marketing business environment. Furthermore, this new customer engagement proves that Mobivity’s ability to offer scalable products to large customer segments sets it apart from the competition. Seeking higher throughput and capacity for their existing SMS text marketing campaigns, with deeper data and reporting features, the brand chose Mobivity’s Recurrency platform through a competitive vendor selection process. Rich features and capabilities such as machine learning-powered segmentation and personalization, as well as the ability to operate local, regional, or national programs all from a comprehensive cloud-based platform, were key differentiators of Mobivity’s award-winning platform. The brand expects to launch its new Mobivity-powered mobile messaging campaigns across its thousands of North American locations as soon as December of this year.Dennis Becker, Mobivity Chairman and CEO, commented, “We couldn’t be more excited to enter a new major customer vertical and increase our addressable market. Mobivity was able to demonstrate that our machine learning, deep data, Unified Mobile Messaging, and proven scale are key differentiators that set our Recurrency platform apart from competitors. This win represents a significant opportunity to accelerate our transaction volumes and leverage our ‘one platform’ strategy to reach an entirely new group of consumers. We are preparing to launch with this well-recognized brand in December and expect revenue contributions to our fourth quarter and full year 2021 results. I want to thank all the Mobivity employees for their steadfast efforts in continuing to move the company forward in these most difficult times.”About Mobivity Brick and mortar stores struggle to manage customer connections in a digital world. Mobivity provides a platform to connect national restaurants, retailers, personal care brands, and their partners with customers to increase retention, visits, and spend. Mobivity’s Recurrency platform increases customer engagement and frequency by capturing detailed POS transaction data, analyzing customer habits, and motivating customers and employees through data-driven messaging applications and rewards. For more information about Mobivity, visit mobivity.com or call (877) 282-7660.Forward Looking Statement This press release contains forward-looking statements concerning Mobivity Holdings Corp. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding the expansion of the Company’s addressable markets and the Company’s expectations for the timing and growth of the Company's revenue from a new customer. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, our ability to successfully market and sell our products and services to the convenience store industry; deploy our product and services to a new customer; changes in the laws and regulations affecting the mobile marketing industry and those other risks set forth in Mobivity Holdings Corp.'s annual report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 30, 2020 and subsequently filed quarterly reports on Form 10-Q. Mobivity Holdings Corp. cautions readers not to place undue reliance on any forward-looking statements. Mobivity Holdings Corp. does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.Media Contacts Jennifer Handshew • Marketing Communications, Mobivity jennifer.handshew@mobivity.com • (917) 359-8838Investor Relations Contact: Brett Maas • Managing Partner, Hayden IR brett@haydenir.com • (646) 536-7331

  • Mobivity Announces Positive GAAP Net Income for Q3 2020
    GlobeNewswire

    Mobivity Announces Positive GAAP Net Income for Q3 2020

    PHOENIX, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Mobivity Holdings Corp. (OTCQB:MFON), maker of the award-winning Recurrency platform that increases customer engagement through mobile messaging and personalized digital offers, and drives digital transformation for restaurants, retail and personal care brands, today announced financial results for the third quarter (“Q3”) ending September 30, 2020. Q3 2020 Highlights * Revenues increased 28% to $3.2 million compared to $2.5 million in Q3 2019. * Gross margins increased to 70% in Q3 of 2020 versus 36% during the same period last year. * Gross profit rose 150% to $2.2 million in Q3 2020 from $896,000 in Q3 2019. * Net income was $39,000, an improvement of $2.0 million to a net loss of $(1.9) million in Q3 2019. * Cash used in operations for the first nine months 2020 fell to just $500,000 compared to $3.8 million during the first nine months of 2019. Dennis Becker, Mobivity Chairman and CEO, commented, “For the third quarter, we reached a pivotal point in our company with bottom-line net profitability, and our year-to-date revenue exceeds gross revenue generated for all of last year. Our solutions have played a critical role for our customers as they race to transform their businesses with digital solutions that meet the increasing need for low to no contact commerce and provide a quick and quantifiable return on investment. Importantly, our cash used in operations improved by nearly 90% through the first nine months of the year reflecting the operating leverage in our business model as we continue to grow and leverage the investments we have made in our award-winning technology platform.”Becker continued, “We’re also excited to report that our partnership with a major snack and beverage brand is already yielding wins, adding new logos to our roster and significantly expanding our addressable market. We have begun promoting our Recurrency platform to their 50,000 customers, and we have trained approximately 400 sales reps on the benefits of our Recurrency platform for restaurant operators. We believe that additional growth is achievable as this partnership accelerates and are looking forward to finishing the year strong.”Consolidated Financial Summaries(In thousands)Three months ended September 30, Nine months ended September 30,  Q3 2020Q3 2019$$% 2020  2019 $$ % Revenue$3,180 $2,482 $698 28%$10,497 $7,333 $3,163 43% Gross profit$2,237 $896 $1,341 150%$ 6,754  $ 2,948  $3,806 129% Gross margin 70% 36% 95% 64% 40% 60% Operating Expenses$2,132 $2,554 $(422)-17%$8,243 $8,888 $(645)-7% Income (loss) from Operations$105 $(1,659)$1,764 106%$(1,489)$(5,940)$4,451 75% Net income (loss)$39 $(1,915)$1,955 102%$(1,702)$(6,328)$4,626 73% Adjusted EBITDA *$ 464  $ (1,581)$2,045 129%$(451)$(4,879)$4,428 91%           * Non-GAAP measures         Conference Call Mobivity will host a conference call at 4:30 p.m. ET on November 9, 2020.Date: Monday, November 9, 2020 Time: 4:30 P.M. Eastern Time (ET) Dial in Number for U.S. Callers: 1-855-327-6837 Dial in Number for International Callers: 1-631-891-4304 Please Reference Conference ID: 10011730The call will also be accompanied live by webcast over the Internet and accessible atA replay will be available for two weeks starting on November 9, 2020 at approximately 7:30 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 10011730. The replay will also be available on the Company’s website under the investor relations section.  Mobivity Holdings Corp. Condensed Consolidated Balance Sheets           September 30, December 31,   2020  2019   (Unaudited) (Audited) ASSETS       Current assets       Cash $505,512  $273,599  Accounts receivable, net of allowance for doubtful accounts of $14,589 and $88,071, respectively  1,178,915   614,726  Contracts receivable, current  943,904   526,948  Right to use lease assets  98,027   -  Other current assets  178,811   601,749  Total current assets  2,905,169   2,017,022  Goodwill  496,352   496,352  Right to use lease assets  18,083   260,645  Intangible assets, net  1,448,967   1,762,211  Contracts receivable, long term  1,651,832   1,260,371  Other assets  54,418   67,787     TOTAL ASSETS $ 6,574,821   $ 5,864,388   LIABILITIES AND STOCKHOLDERS' DEFICIT       Current liabilities       Accounts payable $3,544,692  $3,256,888  Accrued interest  182,258   35,292  Accrued and deferred personnel compensation  274,647   244,953  Deferred revenue and customer deposits  639,876   440,309  Related party notes payable  80,000   140,700  Notes payable, net - current maturities  564,021   540,576  Operating lease liability  126,318   258,343  Other current liabilities  525,945   308,465  Total current liabilities  5,937,757   5,225,526          Non-current liabilities       Related party notes payable, net - long term  1,200,000   1,000,000  Notes payable, net - long term  1,118,040   567,529  Operating lease liability  23,075   45,460  Other long term liabilities  970,123   740,218  Total non-current liabilities  3,311,238   2,353,207  Total liabilities  9,248,995   7,578,733  Commitments and Contingencies       Stockholders' deficit       Common stock, $0.001 par value; 100,000,000 shares authorized; 51,615,469 and 51,380,969, shares issued and outstanding  51,631   51,381  Equity payable  100,862   100,862  Additional paid-in capital  95,532,402   94,781,738  Accumulated other comprehensive income  (292)  8,780  Accumulated deficit  (98,358,777)  (96,657,106) Total stockholders' equity  (2,674,174)  (1,714,345)    TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 6,574,821   $ 5,864,388             Mobivity Holdings Corp. Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)                 Three Months Ended Nine Months Ended    September 30, (unaudited)   September 30, (unaudited)   2020  2019  2020  2019  Revenues             Revenues $3,180,173  $2,481,986  $10,496,827  $7,333,407  Cost of revenues  943,292   1,586,411   3,742,615   4,385,106  Gross profit  2,236,881   895,575   6,754,212   2,948,301                    Operating expenses                 General and administrative  889,032   1,381,361   3,138,744   4,101,340  Sales and marketing  445,273   636,757   1,748,892   2,025,055  Engineering, research, and development  621,442   380,539   2,820,525   2,298,405  Depreciation and amortization  176,127   155,598   534,972   463,086  Total operating expenses  2,131,874   2,554,255   8,243,133   8,887,886  Income (loss) from operations   105,007    (1,658,680)  (1,488,921)  (5,939,585) Other income/(expense)             Interest income  309   26,636   1,220   26,654  Interest expense  (62,621)  (57,569)  (207,899)  (188,451) Loss on conversion of debt  -   (232,462)  -   (232,462) Impairment of intangible asset  (3,481)  -   (3,481)  -  Loss on disposal of fixed assets  -   -   (3,935)  -  Foreign currency (loss) gain  247   6,642   1,345   5,740  Total other income/(expense)   (65,546)   (256,753)   (212,750)   (388,519) Income (loss) before income taxes   39,461    (1,915,433)  (1,701,671)  (6,328,104) Income tax expense  -   -   -   -  Net Income (loss)   39,461    (1,915,433)  (1,701,671)  (6,328,104) Other comprehensive income (loss), net of income tax            Foreign currency translation adjustments  30,145   35,252   (9,072)  12,939  Comprehensive income (loss) $ 69,606   $(1,880,181) $(1,710,743) $(6,315,165) Net income (loss) per share:             Basic $ \-   $ (0.04) $ (0.03) $ (0.14) Diluted $ \-   $ (0.04) $ (0.03) $ (0.14) Weighted average number of shares:             Basic  51,617,612     47,488,574    51,555,837     46,500,353   Diluted  61,106,633     47,488,574    51,555,837     46,500,353                 Reconciliation of net (loss) to adjusted EBITDA              Net (loss)  39,461   (1,915,433)  (1,701,671)  (6,328,104) Stock based compensation  186,457   147,749   509,214   824,303  Depreciation and amortization  176,127   155,598   534,972   463,086  Interest expense, net  62,312   30,933   206,679   161,797  Adjusted EBITDA $464,357  $(1,581,153) $(450,806) $(4,878,918)                   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.About Mobivity Brick and mortar stores struggle to manage customer connections in a digital world. Mobivity provides a platform to connect national restaurants, retailers, personal care brands, and their partners with customers to increase retention, visits, and spend. Mobivity’s Recurrency platform increases customer engagement and frequency by capturing detailed POS transaction data, analyzing customer habits, and motivating customers and employees through data-driven messaging applications and rewards. For more information about Mobivity, visit mobivity.com or call (877) 282-7660.Forward Looking Statement This press release contains forward-looking statements concerning Mobivity Holdings Corp. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding the benefits of recent additions to the Company’s management team; the Company’s expectations for the growth of the Company's operations and revenue; and the advantages and growth prospects of the mobile marketing industry. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, our ability to successfully integrate our recent additions to management; our ability to develop the sales force required to achieve our development and revenue goals; our ability to raise additional working capital as and when needed; changes in the laws and regulations affecting the mobile marketing industry and those other risks set forth in Mobivity Holdings Corp.'s annual report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 30, 2020 and subsequently filed quarterly reports on Form 10-Q. Mobivity Holdings Corp. cautions readers not to place undue reliance on any forward-looking statements. Mobivity Holdings Corp. does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.Investor Relations Contact: Lynn Tiscareno • Chief Financial Officer, Mobivity (877) 282-7660Brett Maas • Managing Partner, Hayden IR brett@haydenir.com • (646) 536-7331

  • ACCESSWIRE

    Mobivity Holdings Corp. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / November 9, 2020 / Mobivity Holdings Corp.