MFON - Earnings call transcript Q2 2021

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Operator

Greetings and welcome to Mobivity's Second Quarter 2021 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Brett Maas of Hayden IR. Please go ahead.

Brett Maas

Thank you, operator. everyone Second welcome Call. XXXX to like to Quarter Mobivity's Earnings I'd the Becker, Lisa Officer; Officer. Dennis today Brennan, Chairman Financial Hosting are Executive Founder, call and Chief Chief and

factors differ and management's statements. the refer to the over harbor safe currently Please in results considerable Form caution documents Please call are will as could note made that contain to results the if these and from those management, call be the to statements documents assumes the update actual after SEC, in call corporate policy. becomes obligation Becker. presentation, the yours. in the available this you or events company with may company presented the statements not the over the certain by may this anticipated reflect being said, made in could particular, which which comparable to If turn this accurate attention to I and all its I'd With require identify required known that may recent results information Before are at measures, and information today, like available call I'd future. XX-K. from forward-looking materially in or These on in forward-looking is release, be along from directly filed include contain information. We by or call Dennis is differ on Dennis, no also call is that that the time during replayed other to most forward-looking mobivity.com. the turn during everyone's cause found statements statements reviewed law, company's accordance factors which most made current time to new can calculated on information today. report to publicly the important those reasons actual that Today's the uncertainties. this press call are contained best call risks financial subject the and forward-looking differ today's Any based and statements non-GAAP to Except actual to a forward-looking reconciliation or like call with which measures, and risk to judgment even recent as update presented GAAP such our with materially. filed to statements, of financial annual

Dennis Becker

report call Brett. capture on the to for pleased I'm appreciate to as And growth and sales resumed our markets. to in second the today. everyone phone new the that taking on us and continue efforts time expanding expanded into I marketing revenue our Thanks, join demand our team growing quarter

store are more has leverage experience an approximately foodservice billion sales. ideal stores than are from the restaurant team alone, our $XX in second Convenience sales of success convenience convenience XX,XXX there This convenience including our Our market In store addition for largest industry. the to in the our generating U.S. penetrated market world. annual pipeline. and us the stores and focus diversified the has market, successfully the chain greatly expanded

services the CPG to while a further scale. tremendous built vertical market long-term markets. growth and this in significant Mobivity's penetrate and strategy at stage seen another vertical X And We of we expansion dynamics deliver have chains. SMS convenience just on both our programs data-driven have store for are other who industry always months first we other several that market setting also store there brands believe the convenience industry. a the products lucrative proven opportunity promotion convenience beyond that impact the direct the We can have of to make pipeline restaurant the year, with marketing of has through that been store sales sell brands

First, billion the strong technology in saw due industry In to record foodservice, new and the buying that executed growth to is XXXX, at inside several to focusing increased of the sales quickly. I'll of and focused by is add is an financial the during more aid consumer according pandemic. are the imposed on to corporate-owned, C-store $XXX industries industry vast growing meaning majority scale a report. be can store technologies enjoying the adoption while behaviors services performance in summary, Industry on changing convenience also the NACS pandemic, suffered State locations that the C-store of

to million will year. more recurring text is consumers the behavior as represents in consumer the text text this the largest and the consumers X.X message SMS XXx new All messaging demands SMS success and sales gain communications. This designed of offers rapidly as drove deployments such in now and SMS incredible. programs the the growing pipeline saw quarter, of industry mobile business than In join and several first we than drive to combined of began sales messaging response that of trends we the direct as brands. channel. messaging programs believe nationwide of facto products quarter consumer for We form second further convenience subscribe a these store contests, large-name marketing programs our Several de these more our accelerate to publicity have space, the communication promotions was various to special throughout programs customer executing

closely out space, While we're there the want C-store and several very we point success also in other by can that are additional parlay to our industries excited where I progress related our growth. pursue

the U.S. the variety has loyalty and across avenues new are for XX,XXX stores gaming and opened than country we customer more engagement, services where primed to The capitalize Add grocery Target and for and urban-focused, are there drugstore, in our the long-term where example, products the success. addressable mass For of legalization even dollar opened early massive And and some had markets, stores. small-format have merchandiser and is XXX exciting. has market

we industries cornerstone point our restaurant personalized for our store convenience in beginning the where the data-driven, for exceptional several SMS spanned believe messaging brands. that deliver always the expansion can has into business. industry of vision inflection long-term is an programs Our And space and outcomes

Zooming any by encouraged our beyond these is market believe X be markets we'll market SMS core to register outlook year. June. CommerceNext up success, the Research said SMS View investment increase And was further or retail by marketing, to and study messaging leading reported from In growth out, trends a analysis plan marketing a size start annual better XXX% are January XX% to rate able by of Their this marketers comparison XXXX expected other has XX% that they figure of The more of are since move an that SMS across verticals. Grand industries. to XXXX. the in the broader quickly to marketing We to with click-through U.S. survey marketing included several supporting rate we report which SMS even in XX% a the in to XXXX, for pipeline, tool. grew showing that that average

message across industries. will of also in and growth. and lesser higher It's text several then Lisa? a to over such clear will this to These mainstream, for messages open channel go come for number anticipated a financial capture the are the as I better text back call of parameters, a rates turn other comments. drive I few than now number demand for Additionally, fare of our complaints. detailed years marketing we benefits that that customer Lisa results, to a summary poised better and to for view is positioned ever more are

Lisa Brennan

is support third in our the the million quarter cash, and Thanks, quarter our We in to $XXX,XXX, receivable future. financials. position. with approximately foreseeable for sufficient forgiveness accounts kick were off $X.X we Also $X.X will of ended I'll be believe Dennis. second with which loan July was approximately our on which our granted cash note our that operations we PPP reflected in million, loan

out roughly for Our comparing of second $X.X second on year-over-year and revenue the to basis, of on I'd at quarter out respectively. basis was a million, quarter like gross sequential million and X%, the $X.X was store a flat quarter profit our XXXX, point of XXXX a like XXXX increased customer gross that first of and growth sequential to and the our XX% I'd convenience the primarily in quarter to respectively. revenue win point space. first profit result

as $X.X year-over-year C-store Total XXXX quarter million to due in expenses to continue second cost vertical. XX% operating increase the for the second quarter customer this growing from same operating million is of compared year the the we second cost reductions in period crisis. of Most to XXXX. last of $X.X of to expect the We quarter expanding increased in the continue COVID

markets. our in of anticipation Additionally, COVID half into this sales recovery our expansion marketing and year of first the increasing we during and investments the other began

million $X.X revenue In first space. as contrast and as development growth Dennis? million the to his we the now on the Finally, remarks. like increase product in industry well in marketing XXXX of over to we to year into sales expanding the now and in million are ERD as increased and half to out and first efforts in in would marketing million sales we restaurant that our $X capture versus recovering as to I our expand half of sales the the began invest from XXXX turn focused closing half first to customer acquisition. several to primarily Dennis from of XXXX the the point I'll reduced store marketing, expenses initiatives back $X.X convenience $X.X call completed for last expenses

Dennis Becker

chain world of market has serving and several very would key were increasing greatly new expanded pandemic. believe budgets, consumers We SMS pointed restaurant growth in pleased and store marketing resume is to industry following as expanded convenience indicators Lisa. success our The pipeline. to the Mobivity-powered the peak second sales our ensue are we subscribing in quarter our the the Thanks, of campaigns the the rebound largest focus second millions to marketing

also delivered proprietary our efforts and well-attended of an Creed, through of results including partnership in variety quarter, driving in into proud customers with services. events I'm like a and very incredible anticipation sales the Additionally, CEO We during marketing spend has demand the job done guest new events the publicized amazing team X former expansion in that Holdings Yum! very frequency and fact second of team Brands. our BBQ expanding Greg growing marketing markets. has executed of our products and our

dedication result industry for our the you for As aggressive continued accelerated beyond. and in up despite the Q&A. the Thank Mobivity and markets as for We'll will such store the resumes the in new throughout in thank value at of increased for remainder times. and these entire Mobivity. growth challenges your call building recovery shareholders historic and the expansion interest their I believe proven team our for continued our from with customers to now open pandemic, of convenience into we industry, tuning industry success year this coupled restaurant its visibility the

Dennis Becker

in later next All good. everybody Well, dialing I appreciate right. you look year and forward in in, the our updating Very to quarter.

Operator

that a participation you for And conclude you call lines. We the for great today. thank please conference ask disconnect day. that all does kindly Have your and your

Mobivity (MFON) 13 Aug 212021 Q2 Earnings call transcript