Mobivity Announces Q1 2019 Results, Recurring Revenue Accelerates

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PHOENIX, May 15, 2019 (GLOBE NEWSWIRE) -- (OTCQB: MFON), creators of the award-winning customer personalization platform, , today announced financial results for the first quarter ending March 31, 2019 (“Q1 2019”).

Dennis Becker, Mobivity Chairman and CEO, commented, “Overall market demand is increasing for the full suite of Mobivity solutions as evidenced by the continued acceleration of our recurring revenue from new and existing customers. We’re also seeing great progress towards our goal of hundreds of thousands of locations licensing our solutions on per location annual terms. In the first quarter we added more than $10 million in annual recurring revenues to our sales pipeline, an important indicator of our future revenue growth potential. This pipeline includes more than 10,000 locations across several well-known brands. The exceptional acceleration in our sales pipeline is the direct result of our partnerships with two key CPG brands. Additionally, our team did an amazing job winning a five-year deal with one of our largest customers to power digital offer management, putting us on track to achieve our third straight year of double-digit growth in recurring licensing fees. 2019 is shaping up to be an inflection point for Mobivity. Our focus for the remainder of the year is to convert a significant percentage of our sales pipeline to new revenue, continue building our pipeline, increase contract terms to five years where possible, and leveraging our growing list of logos through our global CPG partnerships. I’m pleased with our continued progress towards our goal of reaching 100,000 locations producing average annual revenue of $1,500.”



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.

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, 2018 filed with the SEC on April 15, 2019 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.

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 suite of products increases customer engagement and frequency by capturing detailed point-of-sale transaction records, analyzing customer habits, and motivating customers and employees through data-driven messaging applications and rewards. For more information about Mobivity, visit or call (877) 282-7660.

Jennifer Handshew • Marketing Communications, Mobivity • (917) 359-8838

Dennis Becker • Chairman and Chief Executive Officer, Mobivity(877) 282-7660

Brett Maas • Managing Partner, Hayden IR • (646) 536-7331

Jeff Stanlis • Partner and Vice President, Communications, Hayden IR • (602) 476-1821

Charles Mathews • Chief Financial Officer, Mobivity(877) 282-7660

More news and information about Mobivity Holdings Corp.

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Globe Newswire: 21:05 GMT Wednesday 15th May 2019

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