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Mobivity Holdings Corp. reports developments tied to Connected Rewards, a performance-rewards technology platform that connected mobile gaming audiences with real-world brands and products. Recurring news themes include convenience and fuel retailer adoption, restaurant brand campaigns, loyalty integrations, new brand partners, financial results, conference-call scheduling, board composition and material agreements.
The company's public updates also cover capital-structure matters and corporate-status developments following the completed sale of substantially all assets used in its business. Its news record is centered on mobile-game-driven customer engagement programs and the public-company actions connected to that operating history.
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Mobivity Holdings Corp. (OTCQB: MFON) unveiled a new zero-cost media solution at the Restaurant Leadership Conference in Phoenix on April 17, 2023. This initiative is part of its Connected Rewards Marketplace, connecting restaurants with mobile game developers to enhance customer acquisition.
The offering allows brands to promote mobile game downloads using brand rewards, enabling a media impression exchange that benefits both advertisers and game developers. This strategy aims to address budget challenges faced by brands and developers amid rising competition.
Mobivity's Connected Rewards has seen a quadrupling in the number of participating game developers and brands since its launch, significantly exceeding market KPIs and demonstrating its effectiveness in engaging mobile gamers.
On March 30, 2023, Mobivity Holdings Corp. (OTCQB:MFON) reported Q4 and full year 2022 financial results showcasing a 185% revenue growth to $1.7 million compared to Q4 2021. Gross profit shifted from a loss of $367,000 to a profit of $602,000, marking a 264% improvement. Operating expenses decreased by 3% to $3.5 million and net operating loss shrank by 23% to $2.9 million. Overall, annual revenue fell 8% to $7.5 million. Mobivity highlighted growth in its Connected Rewards program and noted a successful $3.5 million financing in March 2023, emphasizing its commitment to capitalize on opportunities within the mobile gaming industry.
Mobivity Holdings Corp. (OTCQB: MFON) will release its fourth quarter and year-end results for 2022 on March 30, 2023, after market close. A conference call is scheduled for the same day at 4:30 P.M. ET, featuring CEO Dennis Becker and CFO Lisa Brennan. Participants can join the call by dialing in or via a live webcast. A replay of the call will be available for two weeks post-event. Mobivity specializes in personalized reward solutions through its Connected Rewards™ platform, enhancing customer acquisition and retention for brands.
Mobivity Holdings Corp. (OTCQB:MFON) reported Q3 2022 revenues of $1.9 million, down 18% from $2.3 million in Q3 2021. This decline was attributed to COVID-related contract restructuring, partly offset by increased Connected Rewards revenue. Operating expenses decreased 11% to $2.7 million. Cash reserves were $1.0 million, down from $1.6 million a year ago. Despite these challenges, Mobivity appointed a new Chief Revenue Officer and partnered with P97 Networks to enhance its service reach across 65,000 fuel locations, aiming to transform its business model and scale its Connected Rewards program.
On November 3, 2022, Capriotti’s Sandwich Shop partnered with Mobivity Holdings Corp. (OTCQB: MFON) to leverage Mobivity's Connected Rewards™ technology. This collaboration aims to attract new customers and reward existing ones through targeted offers in gaming environments, where 73% of individuals aged 13 to 64 play for at least an hour weekly. Capriotti’s rewards can be unlocked using earned tokens, enhancing customer engagement and brand visibility through in-game promotions and communications.