Mobiquity Technologies Reports Second Quarter 2022 Financial Results and Business Update

Rhea-AI Summary

Mobiquity Technologies, Inc. reported impressive financial results for Q2 2022, highlighting a 273% revenue growth compared to Q2 2021 and 201% growth for the first half of 2022. Additionally, the loss from operations fell 53% in Q2 and 20% over six months compared to the previous year. The company attributed its growth to new technologies like HomeGraph and CryptoGraph, with a significant 350% increase in Video/CTV revenue. Mobiquity is optimistic about returning to pre-pandemic growth levels, backed by positive client feedback and a robust revenue pipeline.

Positive

• 273% revenue growth Q2 2022 vs. Q2 2021
• 201% revenue growth for 6-months 2022 vs. 2021
• Loss from operations decreased by 53% in Q2 2022
• Video/CTV revenue increased by 350% in Q2 2022

Negative

• None.

• Q2 2022 versus Q2 2021 revenue growth of 273%
  
• 6-months 2022 versus 6-months 2021 revenue growth of 201%
• Loss from Operations decreased by 53% Q2 2022 versus Q2 2021 and by 20% for the 6-months 2022 versus 6-months 2021
  

NEW YORK, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Mobiquity Technologies, Inc. (NASDAQ: MOBQ) (the “Company”), a leading provider of next-generation advertising technology, today announced financial results for the second quarter of 2022 and provided a business update.

Business Update

• HomeGraph, CryptoGraph and Contextual Targeting paved the way for Mobiquity’s growth.
• Revenue growth shows signs of returning to Pre-Pandemic levels.
• Political, Crypto and Data verticals lead revenue growth.
• Higher margin product mix, Video/CTV revenue increased 350% Q2 2022 versus Q2 2021 and 300% for the 6-months 2022 versus 2021

Dean Julia, Chief Executive Officer of Mobiquity said, “The COVID pandemic significantly derailed our revenue growth during 2020 and 2021, primarily because we were a location-based targeting company and location-based data vanished due to the fact that much of the population was home. Mobiquity had grown from approximately $1.5 million in revenue in 2018 to just under $10 million in revenue in 2019, and our sales pipeline indicated a continuation of that growth trajectory. The pandemic then shut down the country and the need for location-based data. During that shut down period Mobiquity was able to develop new targeting technologies including HomeGraph, CryptoGraph and Contextual targeting. HomeGraph utilizes proprietary IP-Address, Co-Location and Mobile Location Staypoint Algorithms to identify and target unique audiences with precision at scale across mobile, desktop and CTV. CryptoGraph provides access to a contextual market of over 40 million users interested in cryptocurrencies, NFTs, and Metaverse projects. Mobiquity’s proprietary contextual target tool is based on scraping pages to understand the context of the page as opposed to simple keywords, thus providing a more relevant audience. I am pleased to tell our shareholders that we believe we are on pace to resume our growth trajectory to levels prior to the pandemic shut down. We are receiving positive feedback from existing and new clients alike regarding our new targeting tools and we are optimistic about our revenue pipeline moving forward.”

For more information regarding results and business updates for the quarter ended June 30, 2022, please click the here.

About Mobiquity Technologies
Mobiquity Technologies, Inc. is a next generation, Platform-as-a-Service (PaaS) company for data and advertising. The Company maintains one of the largest audience databases available to advertisers and marketers through its data services division. Mobiquity Technologies’ Advangelists subsidiary (www.advangelists.com) provides programmatic advertising technologies and insights on consumer behavior. For more information, please visit: https://mobiquitytechnologies.com

Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. 

Mobiquity Technologies, Inc. Investor Relations:

Columbia Marketing Group
Email: john@TheColumbiaMarketingGroup.com
Phone: 646-736-1900

FAQ

What were Mobiquity Technologies' revenue growth figures for Q2 2022?

Mobiquity Technologies reported a 273% revenue growth for Q2 2022 compared to Q2 2021.

How did Mobiquity Technologies' loss from operations change in Q2 2022?

The loss from operations decreased by 53% in Q2 2022 compared to Q2 2021.

What are the future growth expectations for Mobiquity Technologies?

Mobiquity Technologies is optimistic about resuming its growth trajectory to pre-pandemic levels, supported by positive client feedback on new targeting tools.

What contributed to Mobiquity Technologies' recent revenue growth?

Revenue growth was driven by new technologies including HomeGraph and CryptoGraph, as well as strong performance in the political, crypto, and data verticals.