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Mobivity Announces Q3 2018 Results, Reports Net ProfitYear-to-Date Revenues Up 49.5%, Exceeding All of Last Year; Company Generates Positive Net Income PHOENIX, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Mobivity Holdings Corp. (OTCQB: MFON), creators of the award-winning re•currency platform that increases customer visits and spend in restaurants, retail, and personal care brands today announced financial results for the third quarter ended September 30th, 2018 (“Q3 2018”). Third Quarter Highlights:
Dennis Becker, Mobivity Chairman and CEO, commented, “2018 is already a record year just nine months in. Beyond the most recent quarter’s record top line revenues and positive net income, our cash position has increased tenfold and our assets have grown 375% since December 31st of 2017. We’ve scaled to tens of thousands of locations, including international deployments, engaged millions of consumers, accumulated billions of full-basket brick and mortar POS transactions, and have attracted large technology partnerships. I want to commend the entire Mobivity team for their hard work. We are increasingly confident that we have something unique and highly valuable, and the progress we are making with very well-known brands and partners is evidence of this.” Third Quarter 2018 Financial Results:
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 re•currency 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 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, 2017 filed with the SEC on April 11th, 2018 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 Contacts Brett Maas • Managing Partner, Hayden IR Jeff Stanlis • Partner and Vice President, Communications, Hayden IR Charles Mathews • Chief Financial Officer, Mobivity
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