PHOENIX, May 13, 2021 (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 first quarter (“Q1”) ending March 31, 2021.
Summary of Fiscal 2021 First Quarter
- Revenues of $2.5 million compared to $4.6 million in Q1 2020.
- Gross margin of 58% compared to 65% in Q1 2020.
- Operating expenses decreased to $3 million compared to $3.9 million during the same period reported in 2020.
- Cash and cash equivalents totalled $1 million compared to $200,000 in Q1 of 2020.
- Net loss was $1.7 million compared to a net loss of $1.0 million in Q1 2020.
2021 Business Highlights
- Launched a nationwide SMS messaging program for the world’s second largest convenience store brand and grew their program over 480% since January,
Article source: https://www.globenewswire.com/news-release/2021/05/13/2229509/0/en/Mobivity-Announces-First-Quarter-2021-Financial-Results.html
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