5/15/2024

speaker
Operator
Conference Operator

Thank you.

speaker
Brett
Moderator

Good afternoon, everyone, and welcome to Mobivity's first quarter 2024 earnings results call. Hosting the call today are Bryce Daniels, President, and Kim Carlson, Chief Operating Officer. Before I turn the call over to management, I'd like to call everyone's attention to the company's safe harbor policy. Please note that certain statements made on this call before looking statements, which are subject to considerable risks and uncertainties. We caution you that such statements reflect management's best judgment based on factors currently known and that actual results or events could differ materially. Please refer to the documents filed by the company from time to time with the SEC, and in particular, its most recently filed annual report on Form 10-K. These documents contain and identify important risk factors and other information that may cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made during this call are being made as of today. If the call is replayed or reviewed after today, the information presented during this call may not contain current or accurate information. Except as required by law, the company assumes no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if the new information becomes available in the future. Today's call may include non-GAAP financial measures, which require reconciliation to the most directly comparable financial measures, which are calculated and presented in accordance with GAAP and can be found in today's press release, along with our recent corporate presentation, which is also available at mobility.com. With that said, I'd like to turn the call over to Bryce Daniels, Mobivity's newly appointed president. Bryce, the floor is yours.

speaker
Bryce Daniels
President

Thank you, Brett, and good afternoon, everyone. We appreciate you all joining us today for Mobivity's first quarter 2024 earnings conference call. For investors new to our story, Mobivity is a marketing technology company that operates a performance marketplace connecting brick and mortar brands to digital audiences and vice versa. Building on the momentum of our business transformation in 2023, Q1 2024 was marked by the continued expansion and success of our Connected Rewards platform. I want to highlight the simple yet powerful formula driving our business. Mobivity's revenue is the number of viewers of our programs multiplied by the conversion rate of that audience taking action multiplied by the revenue we receive from game publishers for each action taken. In Q1, we began seeing the results of our success in driving these KPIs forward. We grow our audience by about 30% to over 9 million consumers. This expanding audience is the fuel for our growth. We launched programs and expanded our footprint with major new brand partners, including Marathon, Chevron, Texas-born convenience stores, and fast casual pizza leader, Pieology. Adding these market-leading brands significantly expands our footprint and builds the case studies that fuel continued growth. Through product diversity, optimization, and innovation, we increased conversion rates of audiences engaging with our programs. Higher conversion equals more revenue. Driven by the outstanding performance of our Connector Awards products, which, in many cases, deliver multiples above game publishers' targets, the revenue we receive from game publishers has begun to increase. This proves the value of our programs to game publishers and is an early sign of continued expansion. We continue to grow the number of mobile game titles leveraging our platform. More games means more programs, which signals the value of our programs. Our progress in Q1, expanding audience, both on the brand and game side of our marketplace, increasing conversion and growing revenue per action gives us high confidence and visibility into our continued growth trajectory. With that, I'll now hand the call over to Kim Carlson, our COO, who will provide further details on our Q1 operational progress and outlook. Kim?

Disclaimer

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