MFON - Earnings call transcript Q3 2021

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Operator

Greetings and welcome to Mobivity's Third Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [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. ahead. go Please

Brett Maas

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

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

Dennis Becker

taking an advertising. I and advertising the business time look drastically. other transparency, tracking changed a to valuable appreciate disrupted exponentially to for ecosystem. And and and tech uniquely we success to opportunities to on earlier This more year, time advertising through their tracking developers advertising call of meant believe institute, will new has app channels and acquisition. to our massive for this opt exciting advertisers out greatly consumers digital more at join growth. intersection on acquisition the privacy Apple detailing digital rules, mobile valuable. everyone become which more changes the phone forward current these us at narrowed digital Companies Brett. the and has our set substantial access data I required Thanks, to sits that that ultimately giants actionable drive Mobivity our when more reach a consumer broad developments is consumers and of Mobivity today. of

uniquely. world-class through touch interact and of consumer with to the consumers. businesses consumer outside clientele, relationships restaurant ability consumers interactions, portion actionable millions brings a that on and who have of building convenience begun rely our target and Mobivity space digital acquiring reach the and strong We retaining with extensive large each of

efforts acquisition our positioned this changed digital landscape, to expanded for shift in it. exploit and and customer are we greatly The to uniquely landscape digital has have has the we capitalize on the believe advertising We audience grown. addressable

for multi-billion only in day-to-day new seat at of redemption. stores, spend get verticals utilizing to restaurants is Mobivity's arms provides utilizing for on store viewing marketing for revenues demand are and that marketing Digital acquisition upwards we and a and Mobivity's to or that spending X% video platform game customer of can or physical the while redeemable in on an online of effort This technology, streaming While are targeting viewing convenience acquisition store on, content the around seeing revenues millions retention. and digital a digital through of or businesses phone. mile increasing XX% is promotion, is acquisition technology restaurants to address. and mobile It's interacting businesses. represents offer to extension that clear companies mobile efficient a the must native elegant unique restaurants dollar digital race positioned connectivity and online nice brick-and-mortar while other locations we're an of in audience By XX,XXX their are currently more natural we consumers. perfectly play a lifeblood a from customer app for is have, is the game and have online our existing This than to that, opportunity effective a last

consumer to operators. transactions than of a the are consumers, transactions, on the perfect and digital same mobile XX to targeted that We as back channel vice Simply between entertainment position and connection Mobivity the as networks put, offline they these love social we consumers million billions more and online in monetize is mobile point of to through lucrative acquisition serve sale those also connect versa.

digital we business. and on revenue exponentially to at position building forward, model of our capitalizing and will grow expanding intersection the brick-and-mortar, Going our recurring and our focused on be

initial locations throughout U.S. our agreement launched grown proven We throughout store and the we've and interactions, XXXX, largest Company's of the consumer of have X,XXX second discreet and the into these convenience their in convenience. value the in year, history In QSR we unique with numerous the the world, significantly times in

Canadian in discussions their markets. into now and We other worldwide expand to are

We prospects support and I are growth will we here success turn detailed store back another mobile for third native as business to will as convenience businesses. results. see continue we I about the comments. quarter now convenience financial to over And grow excited that in large Lisa in signed brand into will and then, of more a few view a the for digital come call our our Lisa? summary

Lisa Brennan

in QX. received our which customers, have confidence, receivable our We Thanks, which I'll million, our kick quarter largest $XXX,XXX the off two accounts ended position. Dennis. $XXX,XXX was and of approximately approximately with of we with $X.X from second cash is in will be cash

quarter quarter down was on our in XX% basis, down million year-over-year was XXXX at approximately $X.X the Note for fees, $X.X margin. was $X.X million, third of at a that revenue one-time while development included third of XX% XXXX million. mostly the Our gross profit which

due crisis. third comparable compared the XX% increase of and development in quarter the same recurring profit in one-time last comparable our $X.X $X.X XXXX. to million XXXX the operating the is COVID XX% costs quarter reductions million, revenue Most period third in this to increased Total revenue, was was gross in third the cost our XX%. to for of by of year-over-year some year, quarter up quarter up this Excluding operating expenses

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

marketing in increased like first million of months sales Finally, to out from our to first I'd $X.X in $X.X point expenses the nine the and of months that XXXX. million XXXX nine

verticals I'll XXXX the efforts from $X.X completed capture of recovering million several restaurant increase last in back remarks. sales As to into expenses million over to and the drive $X.X revenue now now turn to call expand Dennis contrast we sales development his in growth find store the ERD primarily year, In in costs, marketing focused we reduced began in Dennis? new and our to to and the invest product marketing the XXXX, we to growth. convenience from customer in for nine on have and are expanding industry, closing initiatives the months XXXX as space acquisition.

Dennis Becker

past digital those the Thanks major we continue the of been digital of the offer challenges. transactions, we've businesses consumers, our pandemic and to millions of to pipeline opportunities COVID In crypto, acquisition the billions restaurant must Lisa. bring have These headwinds are streaming the developed operators, who tremendously solutions, to code restaurant digital sales new success and hindered customers. winning monetize few linger. and Thanks, vertical of have brands, retention unique efficient The intersection transition. just issues months, positioned effective video the gaming uniquely access perfect industry's compelling adoption has where and by customers, attribution to digital impacted to including and our loyalty, value and already with

customers, relentless store of seen also customer relevant we've are the applaud drive intersection CPG digital our for and and sales. open of on access continued technology have who a capitalize in digital call the the multi-billion quick Mobivity. to from Q&A. for pursuit to We'll new audiences. and C-store tuning dollar overwhelming highly perfectly in assets you and now to positioned for your large team our demand Thank seek for and real-world for future the digital audience built interest restaurant I up a We

Operator

Investor. Our Thank Private your from question question. with you. first comes proceed Instructions] Evans], [Operator [Bruce Please

Unidentified Analyst

are you doing? Hey, Dennis, how

Dennis Becker

How Brue. been? you've Good,

Unidentified Analyst

And who with to the golf I've of see you do changed interest Recently, events? question tribes any in with I the good. something would that got world. played a sporting have that properties keeping Good, of for customers different they the XX how you. odds with involved Mobivity? Is around be one opportunity Indian

Dennis Becker

full that. to use no have notifications, work perspective, real commerce, trading them Well, from of those have that, the But, have apps phone, we turned but a odd channel communications of consumers do other also what lines, what's in smartphone that need push apps exploded know consumers most use consumers that, what time blown is that wagers, wager called know placed app and letting as a a but is betting words, those we or really alerted other players gaming things the like communications to off. that, participate. The in way from security funds is allowing and to lot smartphone because those to effective words, keeping of their

could to to help customers. applications enable, And that killer messaging their think channel with a communicate types those text effectively to better so, be I of do

Unidentified Analyst

have under coming hey, any to turned and see betting the over line, something they and may. is let's a my change app unless was on, remind thought, it latest check live or there latest don't that they in the because ads, on, That game whatever

Dennis Becker

for No, not messaging I general. a great in think text application that's

venue-based huge a is people currency virtual big for transition wagering, are or things I maybe They think the And was can't this situation update an casinos that a local world SUBWAY, fine could Mobivity, the actually things and on-premise situation we're there casino a that, one historically this casino, we these wagering points their what to you of is for businesses, to playing convey trying the to they're gratification app, drive and likely the but get of the phones stores, was from playing anywhere. we -- at in this that with, that. to not on is rewards, to to transition. instant will that's we convenience the or to casino, that businesses. whether home. to a the real this is games can This thanks In participate. it connect get have traditional opportunity that location or other And phone casino, are new comps, go about the from do your Circle of really a of if app found you not mobile connect consumers comfort the via you they restaurants, doing experience. us through SONIC, gaming from way means somebody their your a like K, where, words, have go think all for like what that that, the And home going you to been in to working

everywhere, Pop they're We're a if at SUBWAY Circle grab. lot demand enough, playing we they who work seeing gamers, some get getting for where concept K incentives at brands from their we because, and are or restaurants large a reach a and virtual of are can these the which closer that millions geographical is they're everywhere. convenience playing consumers of instant where, Footlong Polar type play of or stores to maybe The that connect of of are phone. they kind So, with and these ubiquity that rewards they the

do messaging we obviously, that. So, way beyond text we these the bigger messaging, is everyday is, opportunities, and text business the think virtual opportunity gaming can great how a to to connect

Unidentified Analyst

if text you do let to me with Well, for Okay. a ever casino messaging, see in get know. touch large need the operator

could chief I I said, think golf be I just As with it interesting. and played the

Dennis Becker

might we you Yes, take that. on up

Unidentified Analyst

here you Yes. me you, do, for if Well, I'm always Dennis. let know.

Operator

this that please no call the for There That time. conclude today. conference your for are further questions thank and registered ask We Instructions] you at disconnect [Operator participation lines. your does

Mobivity (MFON) 16 Nov 212021 Q3 Earnings call transcript