Mobivity Q2 revenue down 33% to $1.87M; net loss widens to $1.95M

MOBIVITY HOLDINGS CORP.

2023-Q2 EPS reported -$0.07 revenue$3,896,731

Revenue fell 33% YoY to $1.87M; gross margin dropped to 36% from 54% due to large customer contract restructuring.
Net loss of $1.95M vs $1.43M in Q2 2021; adjusted EBITDA loss of $1.145M vs $0.95M.
Operating expenses reduced 16% to $2.45M; cash and equivalents $1.1M, down from $1.8M.
Appointed Ben Weinberger to Board; launched Connected Rewards with new restaurant and gaming partnerships.
Pipeline expanded to over 65,000 fuel locations and multiple game publishers for Q3 campaign launches.

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