MFON - Earnings call transcript Q1 2020

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Operator

Thank you for standing by, this is the conference operator. Welcome to Mobivity Holdings Corporate First Quarter 2020 Earnings Call.

As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

turn over to Mr. like now the to conference I’d Brett Maas. Please ahead. go

Brett Maas

Dennis welcome I’d Hosting Mobivity’s are Financial and Officer. operator. Tiscareno, you, and everyone Executive the Founder, Officer; Chief like today call. Thank Chief earnings to to Lynn Chairman XXXX first call Becker, quarter

to We on forward-looking Harbor Before note policy. the and uncertainties. the events like that and you actual to risks this that based reflect considerable to be to materially. attention certain management, subject over and turn everyone’s which statements caution the made call management’s Please on such statements, are results differ will could factors I that judgment best I’d statements currently call call company’s known Safe the

the and report the cause other Please factors those forward-looking statements. from results company documents information refer XX-K. to in in to risk the may differ the annual filed time-to-time and SEC the on recently Form contain and that most These by filed important particular contained actual with identify the from documents

the contain Except statements are presented of call or being the available update statements, this If reviewed assumes made company replayed forward-looking may becomes made information. actual by call or today. call in not no today, from this even forward-looking the accurate information reasons is law, the during during or as if after information required as new in obligation these forward-looking Any update current materially publicly this anticipated those the to the to statements results future. differ could

presented is at measures, today’s be the non-GAAP which which press GAAP and in most financial can comparable mobivity.com. reconciliation in release, include a with measures, to may call which available financial accordance Today’s are also calculated and found directly require

or or reporting on XXXX after revenue under This on standard, are XXXX for of means the January XXXX recognition I’d presented company results prior like referred a revenue ASC as period as also are the the otherwise January period modified accounting amounts XXX, standards retrospective a to remind new new before January adopted non-adjusted. beginning X, recognition everyone to basis. X,

turn all I’d Becker. With said, call yours. Dennis, to over Dennis call the the is like to that now

Dennis Becker

everyone hope is our us and staying out in pandemic. safe healthy for everyone out directly the joining our there purse today. We affected thanks current and call Brett, Thanks to those by go and

and Before quarterly results, a demonstrated accelerating. momentum get members of I to partners commitment innovation to one most we team of proud how time am uninterrupted delivering work making think employees to and exceptional in each our I every recent by off our The environment customers. our start our I want chaotic transition and have for support keeping an into is team and expressing commendable resilience, through highly our these and virtual Mobivity’s

that increasingly now. possible. decile consumers. better Digital technology becoming accelerate urgent but pandemic no a the evolution COVID center future, that stage survival. been until is everything consumers and has adoption forever and educate has Taking help to process to brick-and-mortar digitizing the is digital to of are longer change the slow march this transition brands slow of We to will how pursuit the hard convinced brand worked Mobivity market in engage an

and in-store resources mobile health Consumers newspapers, large redeploy everything quickly is transitioning to personal advertising risk. speed. at are Online mail, to payments venue marketing drive up and fail delivery that purchases space direct at to Brands ordering are skyrocketing. pick even extinction, to digitizing light now through from and

merchants world March. example, are of digital aggressively it’s than practices For new pursuing in solutions saw an XX% analog more an business quarter legacy in thrive blink to In eye, this that during ditching digital and Chipotle, first and the the order. doubled

quarter, excited this first While even play by our I’m future. and accelerating new pleased importance the in more I’m to products will results our report for solutions strong

a via contact up our online. are set already apps of future delivery Fortunately, low ahead mobile ordered customers commerce many or pickup, that key of for drive-through focuses and on

a our has business of to in or orders earned in-store today’s through example, business customer little For their a they thrive delivery, uniquely largest operate and second majority environment and to given take-out drive-in Subway with historically no equipped is drive-through sales. Sonic

in is of Coffee, as Table category, such customer Bros growing takeout an and chains, operated Papa ours, fastest delivery. brand. sales Dutch of coffee drive generate Gino’s, also large and Round one through Pizza Customers America’s of the through exclusively most their Another pizza

help our via next now store how their to digital targeted to of Sonic mobile is seeking example this ordering we of app. partnership recently increase and to sales promote out mobile using our Our An mobile customers Google and deliver with ordering messaging taking the messaging leveraged their consumers to offers are by level traffic.

seeing form through any were provided results discount. app drive the making the and and consumers purchase delivery The takeout, incredible. being responded XX% in without of through a options that campaign With sharp and of to This sports, mobile culminated historic to also advertise to and market entertainment for down events focus, brands we’re of shut has budgets. venues consumers. redirect the marketing our major customers narrowed the

broadcast. marketing to Playoffs, in the from Madness, March In ranging have the dedicated fact, the portion in-stadium NBA Olympics. of always annual even sporting of a large now QSRs In absence Masters, budget and The their events

channels Brands budgets, Ad to traditional projects interactive future. of and proportion spend be for media survey linear reallocate and an year. higher dropping as this budgets those marketing the foreseeable in up now bureau are could XX% we XX% is and against agency billboard spending engaged. spend marketing TV consumers sidelined competitive expected We’ve Magna are marketing competed that always ad XXXX, radio, sees a scrambling their receive to television now keep

XX% our current the short fee customers of which revenues, fees their the pay in March In volumes usage XX% pandemic transitioning fact, to the is bolstering our text minimum above now and year profitable operation. our in by the flows annual and navigating SMS increased our at cash are the plan remainder dynamics marketing A customers variable first license increased of aimed for quarter. term

the first Falling and operations quarter, our burn current XX%. revenues reduced margins monthly record adjustments cash implemented and to by we’ve almost in

pipeline despite our growth more sales yield a obvious than meaningful challenges imposed annual the year, could licensing million the $X pandemic. which recurring in includes fees, Additionally, by covert

for financial I to the Lynn? view for our Lynn will now call few comments. turn I of will and over summary come a more then detailed results, back

Lynn Tiscareno

off with update cash. Thanks, with cash flows. the We first Dennis. in on kick I’ll $XXX,XXX quarter ended an

the six Program of unsecured The Small However, we with fixed of have rate and recently deferred. guaranteed of brought CARES provision loan by years at interest the X% Administration. The under bearing the of interest it’s Paycheck the a Protection term months loan Business Act. in annum first two $XXX,XXX a per has

maintains on forgiveness. and In employment the calculations, its entire that following payroll by benefits to the the that program initial Mobivity interest compensation period are loan of addition, used loan within and proceeds the the date. principal the and XX% will during cover parameters costs, the if Based least eight-week be Mobivity states forgiven, $XXX,XXX anticipates the company origination for at conditions including meet certain will

fell the revenues as and Dennis have to used year. growth our adjustments than million first the $X.X quarter cash our including in in the I’d same during greatly also cash operations highlight described, recent XX% more like Furthermore, quarter margins of a just versus reduction of burn. operational to $XXX,XXX reduced reflecting for last current

have maintain foreseeable current we Assuming, on we support future. we’re operations trajectory, confident the very hand our revenues that sufficient to cash for

these Approximately, compared $X.X first $X.X for $X.X non-recurring of million, XX%. out XX% quarterly of recurring like to the fees. recurring revenue to of the quarter and reflecting recurring licensing associated was with to revenues the fees, variability. in first are the quarter point leaving quarterly licensing contracted with XXXX revenues Our revenues that in $X.X million to customer million XX% XXXX, $X.X commitments in only of first quarter minimum an tied usage I’d improvement revenues are million million of

a first to XXXX out variable a the in quarter period year in same Dennis ago. XX% fees As we pointed saw of increase compared the earlier,

revenues recurring through minimum remainder continues perform through without license additional variable XXXX and sales. fees million see revenues Assuming the current year $XX adhere at our could this of acquired customers to we new levels, their fees exceed

first for period of quarter against in the year-over-year XX% increase an this expenses revenue that in XX% was increase margin. mind, XXXX increased the same XXXX. a by in in a expenses, XX% over with Keep operating Total increase gross in XX%

our operating loss operating loss our of the by result, fourth over a XX%. XXXX first quarter improved As by XXXX. quarter the of compared note to Also quarter first narrowed that XX%

development a year generated costs. share, to expenses of $X first improvement of streams operating of was a increased the one-time Engineering, ago net expenses. compared per million XXX% quarter for under and per is in $X.XX. of loss research a modest loss with narrowing revenue to increase The XXXX, and to XXX of capitalized share the $XXX,XXX associated $X.XX with first due result compared the quarter, decrease in software quarter direct costs XXXX $XXX,XXX increased non-recurring revenue our a development only significant ASC increase we in the In or where the to

are We progress. making clearly

includes the the some that in contracts with that grew my remaining and prepays for be of recognized of a first setup Deferred term fee $X over XXXX annual to revenue will customer quarter million customer contract. along

Dennis? back call his now remarks. over turn the for will I Dennis to closing

Dennis Becker

for today. and businesses existential and how day like our forward. I’m their and COVID for e-commerce this the and importantly now transition. going we’re Mobivity worked trying congratulate times. Lynn. new everyone Thanks, Thanks race that as a through pandemic team to But just operate brands At for solutions quarter unfazed the thrive the is has customers see digital for these to through Mobivity, record forever we working evolution hard a in support environment slow our at I’d changed on call build steady to our this night our us need convinced marketing and joining towards with survival. customers for to

Operator

Thank you.

[Porter ahead. from Please We will now question-and-answer Capital session. go Jeff comes begin Instructions] [Operator Management]. Porter First question the

Jeff Porter

guys. Hi,

hands and are sort and impact on new the think because can is funnel? get you going people close to you your What’s you that And on? get with there you ability the guys mentioned So COVID. of in works you get clients out that working in have deals your remotely backlog when all have that clients of physically the can going to and been of of abate sort visit a this

Dennis Becker

the Jeff. question. Hey, Thanks for

had and with mean a negotiating travel trip the pipeline the deal, before restrictions, to I So our right culminated two other some COVID stage kind of to by ceased. had and of been implemented late we’re Europe affected, including around travel kind opportunities shutdowns right cetera, very proposal trends potential where and stage that et largest economics before

are opportunities in a large dollar those we’d gotten revenue recurring annual play. sales our And still pretty with in So our far in multi-million our those opportunities. upside pipeline. part of There – pipeline

So gotten that. to collaboration those the and and haven’t you’ve negotiation in things person easy continue meetings really past because been impacted after like and the already presentations it’s

So we feel really good that. about

is In market deals, hundreds They most across of terms perspective locations in look, and I thousands vertical essence our of distributed virtual. of regions geographies. target mean, or operate

exchanging able I’d collaborate whatnot. and So the to can’t well, be be all ran go our brand, presentations XXX of a we I and it’s in to with always trial person is or if whether we locations. XXX with demos a virtual it’s bulk say sales better anyway, opportunities that, engagement physically to do creating – store to information mean, can’t or we with deployments, at

So being it anyway. ends up always virtual

in been, our all think, that’s sales pipeline. for relatively continuing conducive So I

which The target those headquartered in terms operationally or to in also brands of those arrangement. regionally markets are and their been our of our office, – has moving just taking back reacting that course, challenge, employees virtual is office sale

that things up to. a the we selling that virtually. can verticals to there’s But about means do that nothing that we So slowed sell we’re what bit. That

Jeff Porter

How And Okay. us over budgets that and had et mentioned follow-up, of go get capture in the we customers or budget they’re a or directed the using? a customers cetera. about of do targeted to events as advertising TV, to arena you to potential lot sporting best mediums as no way other it that opposed trying some to these to think about longer the that

Dennis Becker

our as being the target occasion majority behind Well, market our of sold that being reasons the the restaurant is the of focus of an product. product base vertical one

channel for group So why and been an that it’s a sports we’re entertainment occasion, occasion. dinnertime a such And occasion, marketing brands lunchtime to. has that’s attractive a the selling

have lunch is have So challenge going for for of the about the now dinner, your or the to voice to going trying of there when consumer, what et they’re they’re they’re mind insert to what thinking into cetera.

ability up forcing much sideline, vitally databases that’s more brands so build is with for where important. And the to direct-to-consumer

being on rely relationship can’t the You and safe. third-party not

broadcaster. a You’re

doing to watch really couple to on can’t what that’s And rely their think build said, hear should Sports if is the million have there. And to shining for I light yes, can isn’t that that ESPN new brands if a last there’s brand’s that You necessity or on have have audience we an own Live if of audience. that’s the is over mean, something we’ve audience. you, something years build the several what Or that from me. audience of you’ve proven subscribers want brands got I I I try. product the

marketing because this you’re frequency an that channels. going can in at think is a to risk your name the and or And you’re customer and it’s to restaurants go. so either depend ours third-party come in this of new create to now base third-party like your hospitality channels as of say there’s digital direct And at drive through And frequency relationship audiences upon direct-to-consumer as saying, channels, if doing, the at which the mercy game. for they what you I age opportunity that’s really is

think the absence what on on really that’s right shine phenomenon the shining do the seeing of really being alternatives. in of that I kind is that we’re So now any – we lights

Jeff Porter

improve marketing it to equity Okay. sales. the success valuation. us, of we’re they one the companies opportunity I our in the have company say, magnitude they’re where is where get to but space future And transactions that to that times I paying in attractive. five to seen question. are long standing we would in like us the do extremely we valuations numerous to sort a in What the mobile, not view in XX have seems is relation digital investing in because having reasonable are so direct we are last like competitors, can I’ve equity we community our term private and similar at. maybe the our of paying common the to they’re trading to than investment greater similar firms more that valuation highlight orders opportunity

Dennis Becker

a tough That’s question to answer.

audience kind that whole finally data-driven and that this COVID have in mess stayed inertia that’s operators what what And they’ve consumer transformation. what we’re to the in always without way. that, called revealed. Mobivity. within mercy direct this of to that the that sales connection that’s preaching an notion a the there’s vast of has analog the same the now risk still accelerating. force majority economy think value ways. think market been I at a there now you along analog e-commerce agree the of I with to advantages is that the think and that absolutely And been of just we’ve digital of is all They’re I our And increasing that operating in measured highly it’s I at all that’s media fact

gets of revelation community Mobivity to I think if and of transformation. the out I think there to the the the terms looked are valuation. I’d companies to digital you that investment as trying that in point thing make help at class brands And these So one that of kind

and of dislocated I’d not that consumers that needs I the public now of advertising it, situation little think Every undervalued. a way. to like they’re for traditional the comps, them the a operate of We’re about – have business direct-to-consumer and creates has back. the now, we’re looking I because digital and having the all company one ahead, that does I whereas will brand bit all to homework quickly maybe in bit little that think a Amazon right really this that data companies that’s game lot more media. of of come up that little public few market coming investment the hope to by kind nature of of I to public think catch ahead us. little what model maybe just, But that, through private It’s I community mean, and built that engagement, is really, kind they’ve bit keep they’re a using to terms think television very and transforming of a

markets iceberg at we’re And the appreciate like to the the companies these tip I think only of really for brands. value the that are giving Mobivity

to So I the always undervalued. I’m again, going dodge but think look, I’m mean, not trying to question, we’re

enough. is that the market I think fast

the is of industry. Mobivity space, already is in which the space, out doing get large care You personal some another restaurant work

and sales largest streaming in opportunities video. Our are grocery online

drive an building. have margins, a that sweet horizontal Software-as-a-Service high long hope to time I of opportunity model, the and we is only recurring kind economic value term Mobivity intrinsic that SaaS market go contracts. before understands that spot, matter So the of it’s

Subway like a maybe our progress of here, think – until has up partnerships maybe to that something brands the very and goods to think few question, it’s being been this massive are your and everyone’s companies we’re And shift. big one have some are like a been answer better invited publicizing aiming do of the and but And bigger that Pepsi we markets nonetheless, can now picture part that a taking at. to I job they future helping of I these Sonic

Now of an it’s becoming act survival.

So valuation catches hopefully up. our

Jeff Porter

Clear Dennis. things. Thanks,

Operator

Group]. from [Operator Instructions] Prag The Please Bob ahead. next go [Del Mar question Consulting comes

Bob Prag

Bob Hi are Dennis, you? Prag. it’s How

Dennis Becker

Bob. Very good, Bob. you, Good to hear from

Bob Prag

indeed. Yes,

the they campaign what our solution to appear to One would, those QSR Mobivity convinced far as QSR – two as killer me happy. you Subway app biggest of going got The with board? top remind brand improvement differentiation? numbers What’s be with in the separate on if to the companies always of that with why seems So the a go what’s our you be is our Subway, not to fantastic. tell respect to mobile if – biggest you you’ve world, is

that find QSRs hopefully compelling to move you to platform? do what So exactly will do other differently your

Dennis Becker

analyst an And start. they that every big XX an And had question. so What else? seen of it’s used sustain. to a company had Great and I was what off. been them They them traded just anyone create money. data too too spent They’ve rewind They a is the of head that massive efficiencies when stage, before. selling publicly to early was analogy, losses makes doing I than better hadn’t much I at years allowed were Amazon would back amount accumulating things writing Amazon data. mean,

And with ultimately, they doing won in. or sold that over four the the categories marketplace been they three that’s the in really last what years. And we’ve

We’re if even restaurant and is that to basket the brands. data personal continually cash across AI new its how moniker data, that’s of card see state oil. is and all technology increase of and pour they now We $XX of it it of the the make million the and learning accumulating use really much a machine And transactions new liked to efficacy. you that’s credit you credit industries, that full unlike into off follow week both have based software the company, that brands transactions, because is and the over to data transactions variety smarter a care card the your

head rates for And with ordering with founder of and conversion start continually use example, of of the just Twitter’s the unheard that’s a because demonstrate. – we’ve what to we quote. had digital Sonic, to just announcement that’s last We a kind we really week

messaging, point consumers deployments we mobile kind is brands five success perspective, this and these individual that four, results are executing engagement these it, an brands in like at to that XX where major for had of And mobile of unique how to and point through engaged has it’s years. international that or led of overnight with of ability we’ve of we’re for. number in now, that’s also, think, a deliver data we’re then experience we’re this I one years now ingesting And provide of at said this all XX terms congratulate for he that interesting think people to American. something our the on outside I on always three

campaigns touching a of we base. So are the were running consumer also meaningful now that American of kind very group

Bob Prag

reference following Why of on success into your get kind challenging? question, into of hopefully You’ve so it literally great the more it is and program? two Porter’s national some companies buy Jeff buy with and been seemed So so or QSRs clients, branded to customers, got chain outstanding. metrics other challenging – has to the why regional to be

Dennis Becker

fruition, Well, I it’s kind months. XX I of don’t Number is dollar brand. think a we reasons. technologies you And of look privilege And other five to dollar the of one with than whether years, multibillion marketplace more think do when secondly, et catch to had of that takes to working the brand up. multibillion cetera, at XX then timetable come of couple have much quickly if anything the it three evolutionary years e-commerce, types have to kind two

was really Again, in whole XXXX. into kind now this now into them the and XXXX. I’d I business I it I you’re Nobody going. to that’s think people trade a now, change selling last right moved don’t putting is going point cash. until And I it’s think about XXXX, already a But think the to thinking e-commerce mean, market what’s this becoming they industry where where think to is exceptional risk XXXX, Amazon. health don’t soon. anytime in that do existential. of that’s stuff that together. were forever. health mean, It’s that online venue risk going a to to I And I

means, ordering Chipotle, having your to You to it then Wingstop up on showing consumption. more picking and phone more your And food really how adopters like up your it using just convert focusing and been they’ve consumers have and and home. they digital delivered that can early or

a of its consumer base. been the industry leader in obviously has Starbucks transitioning

that’s transactional past, been Now in benefit reducing the for costs. by a the brand

has just act feel in until the reducing in safer. time be consumers returning not so And they and this optimization of going It’s exercise more efficient. survival. transitional over important. aren’t over more It’s volumes nice even an time, it’s costs. costs become to Now have a to an Because becoming reducing

then of when question, thinking I’m I’m bakes it’s – out to how I’m consumer about have consideration, the at which the moment And when the it Now get going you what for do lunch, of kind making and to in a of the as purchase. consideration gets and over or quick other lunch, me hand. already brand Subway it thinking transition from then dinner, about to my consider a engagement phone’s my I’m means, some to for Mobivity another existential.

do sale to I anything into that’s convert as how you’re way possible? be So that to only a way. safety, the as in health, Because quickly most going sell considerate able the

had So it’s been I consideration a long-term it’s the past now luxury the have level kind extinction evolve toward. event. of that And this think in to becoming brands the

digital traditional the sales And if accelerate. we them expect to that’s times of an to leap. advertising So from TV complete as order. medium marketing channels that on And you’re a got to to the radio, cycles again, big a get medium you mean, or lot still

Those lot channels are entertainment. shelter now distancing the of a and place in in the because of of live cancellation and sidelines

media and volume. XX% SMS of messaging And you in if point ad back Google time no all to volume. spend event. lot a this volume. saw March of is, other text a and talking following the a a acceleration And So – and customer In media creating industry, increase think usage. there’s of A numbers really to about in Facebook place We they’re ad go. where in reduction terms an is or our of were I reduction in we

Bob Prag

respect that course and and be of Nasdaq? is that moving where kind the When just all any coverage a from to follow-up board to that Okay. Has graduate sponsorship. of of lack lack and research to on up, of company brought with kind sponsorship liquidity and Nasdaq the company move of One one up the last the question would stock type Jeff point again with of that frustration and things to considered come institutional of valuation this and getting the at going being challenges interest. to

Dennis Becker

about us corporate give development strategies Well, we give doing. valuation the what opportunity best think to best are what and shareholder or for we thinking what always and the venue us going value we’re ideas for

all our takeoff. all industries of a lot thinking we’re is into we that winner possibilities. the energy this So said, always We of of know technology That business. about sides that focused growing like

can land spots then valuation take the in of – a three of new category you the a top five to care If themselves. category,

we thing always So were think there’s in it’s companies today as that of about think I half one back many – only I the ago. there’s XX as mind, XX interesting, traded publicly that, there it’s my – or years

can’t So of that’s same any terms obligations. always I reporting we Nasdaq it’s plans. don’t question, NYSE, always I the now definitive follow an our say, interesting much in and Between answer mean can’t to the reporting But dodge I thought. But on that or of minds. where we’re

we the it, because we’re other or today. think laser now, we’re possibly? have about at taking being think so that plans on for our one company but accomplished don’t focused Is transparency is business. way venue We right shareholder where there of So to growing better care the we definitive just any list a

Bob Prag

Good quarter. Great Okay. luck you. to

Dennis Becker

Thanks, it. Bob. Appreciate

Operator

go The comes question you. Thank next Securities]. from Instructions] Swift Brian ahead. [Operator [Sutter Please

Brian Swift

the a and with Thank it you. be area were who And me got There’s Pepsi, like I used Taco have it’s up by relationship the so and about wanted window. what person major brother-in-law, a with to the they alert doing places owned to into follow-up involved the were to in very they’re And When tied you GPS franchisee doing. with question within the very sophisticated get talked Bell drive they strong they one Pepsi, he a using about that of minutes with starts restaurant. few the New that England Pepsi, seems told all that the they of at you platform the is I spin-off. stuff. or were what order, whatever. A on this young my that his differentiation and loyalty an

Pepsi to the about with that kind whether Is go, it with something And doing Taco world? they’re so else? of – adding curious the to you’re Or the of working is that. something somewhere you’re where’s Bell’s wondering I’m I’m your focus? there’s what when focus

it to so my to something what doing? trying was I was kind – missing to of on you’re comparable what or tell? that it brother-in-law’s description leads is of he And they’re Or the using product really

Dennis Becker

that’s I great question. a No, think

the eliminate apps we channels – to we it’s focused or great those this spokes you’re it’s or that be evolving brands think next what a for whether the as messaging with it engaging messaging And question I a to also Sonic or describes or Google. brand that on messaging that focuses and being really spokes is something. saw with, week going help is whether to we’re consumers where text are perpetually is Alexa, doing that talking But with be because that the way does Amazon the generation situation, there are last think you what our of and hub. the text email

we’ve Bell what to receive accumulated. that’s you’re And Taco can so point again, text message, you’re suggestions? you data the those near I using the that is a app a it and making Or back if you – or and

brands. just year, like more billion that’s the consumer X accumulating if than our engine, excess for marketing X a you these billion those an becomes to We’re think into hub will, And of I transactions engagements. that we’re something mapping pouring intelligence

years often, to good back where, to And system more perpetually that’s the they our get are and the sees. three it more So, come gets information that optimize again, just that the we’re to point ahead. a to strongest advantages, kind smarter, going way I four of guests

much the competitors amassing data make I platform smarter. think most and that of the the of to amount of

why put helped having of Taco of described, partnered information versus marketplace app Pepsi. Mobivity hub broadly the were I precisely Pepsi of but can’t with individual that with handful that had more a know us. database position Mobivity, just features Pepsi to who, was technology And that but look say that’s together some they more tactics. because aren’t partners a to and I those of kind that holistic partners applicable more create there you Bell tactical their of

And or would with and from over their spend as last I to more an of broader just existing appreciation a their set quarterback been our hub. point years more four us our because ability customers, our over three lot marketing for time. the activities grow it’s expand our to, So the of be they they has revenue ability to growth licensing

of as is I not think there’ll spoke, of brand. lot a for again, to our operate be become and So the kind the to but hub mission and anecdotal a you’ll see applications brand with tactics

Brian Swift

you making progress the – is on was getting wins shutting with relationship – it How with stall Is now down some are Okay. going there? some or it PepsiCo?

Dennis Becker

is, of brands And twist No, kind very a choose COVID opposite. to help bit just bring that the Pepsi with mission It’s and the terms to today. become just has to portfolio. it’s better. what the succeed. how they’ve of go relief They a along has public our a this of done all that, And in that in a great the they job we’re about have perform customers, been brands sales to to of know options clearly to proven of of a been efforts normal multitude brands what performance kind but works and environment, not now has in a

it’s the a in Pepsi change through past also been words, I’d a Pepsi year. leadership other just in offering. out, point went regime And and So last

have the Mobivity help and temporary how And side in just that have consumer should that now might ago ground. good have can other the brands situation. the news things survive? ground changing situation off ground But lot what them that And of a has kind deep things most can and help they’re how we we’ve frank. of for bridge how we year out Pepsi do coming a for off little brands that’s obviously of can Mobivity the year, have Pepsi temporary off So behavior, us. but I this with COVID a up implications It’s a to that. split a the collaboration is through to long-term make of And of gets everybody agrees. think this bit sure our And quite the help we And enjoyed an place. of in is appreciation everybody with had gotten Pepsi period. that acceleration It gotten

Pepsi- Mobivity program have relief And a so we going. joint

cycle help marketing going And so because hey, want now to the conversation give your it. choices buying to your Pepsi you subsidize not, to that support is now, in is we and this

so through And of now. activity acceleration an we’re right seeing actually partnership that

Brian Swift

would because in marketplace. out bring they broad I doing you’re certainly because to think so, Yes. what a huge credibility presence so their that is

the be should at at right it place right the time. So

that’s we me. enough – new some of it. Anyway, some get customers get for you’ll out hopefully So

Dennis Becker

Appreciate it. Brian. Thanks,

Operator

That management question-and-answer turn to closing conference over I’ll back concludes now you. the for any team remarks. Thank the the session.

Dennis Becker

us hope providing next that to Thanks our here today. in updates regrouping stay to on everybody you. Thank there this continues out new call safe environment. everyone looking and further And quarter our progress. forward joining we’re in We for truly

Operator

Thank call. today’s you. This conference concludes

have Thank disconnect may this your nice for You lines participation a at and you time. day. your

Mobivity (MFON) 2 May 202020 Q1 Earnings call transcript