Mobivity Holdings Corp (OTCMKTS:MFON) was up 9% after the Recurrency platform maker announced its Q$ and FY 2021 financial results for the period ended December 31, 2021.
Trading Data
On Wednesday, MFON stock gained 8.82% to $0.9020 with more than 31.2K shares, compared to its average Wednesday of 16K shares. The stock moved within a range of $0.8900 – 0.9333 after opening trading at $0.9550.
Mobivity Announces Fourth Quarter and Full Year 2021 Financial Results
The company’s CEO and Chairman Dennis Becker said that last year was a transformation year for the digital marketing sector following the implementation of strict privacy regulations, especially regarding tracking ads on mobile devices. Currently, the company is uniquely positioned to leverage the changes and expand to new verticals where value can drive results in higher transactional revenues or margins.
The company started implementing the efforts in the fourth quarter, and in recent months the company has entered collaborations with gaming firms that reach millions of gamers on various platforms. Full-year revenue was $8.2 million relative to $13.3 million a year ago. The gross margin was 47% relative to 64% in fiscal 2020. The company had a net loss of $8.3 million and ended the year with cash and equivalents of $0.735 million. So MFON is worth watching.
Key Quote
Dennis Becker, Mobivity Chairman and CEO, commented, “2021 was a year of change in the digital marketing industry with the implementation of stringent privacy regulations, particularly with regards to tracking advertising to mobile phones. At Mobivity, we are uniquely positioned to take advantage of these changes and expand to exciting new verticals where the value we can drive results in far higher transactional revenues and margins than our legacy model delivering simple SMS text messages from brands to consumer phones.”
Technical Data
MFON stock is trading below the 20-Day and 50-Day Moving averages of $0.91 and $0.92 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.40.
