mPhase Technologies Announces Pebble Service Revenue Guidance

Rhea-AI Summary

mPhase Technologies (OTC Pink: XDSL) announced revenue forecasts for its new Pebble sustainability services business, predicting growth from $1.75 million in fiscal 2023 to $18.2 million in fiscal 2024 and $52.56 million by fiscal 2025, showcasing a CAGR of 448%. This revenue will primarily come from subscription services and is expected to become EBITDA positive in 2024. The company is also undergoing a rebranding to Pebble, focusing on an integrated ecosystem of sustainability services, including EV charging and consumer engagement.

Positive

• Projected revenue growth from $1.75 million in fiscal 2023 to $52.56 million by fiscal 2025.
• CAGR of 448% over three years indicates strong business potential.
• New Pebble service expected to generate primarily recurring revenue from subscriptions.
• EBITDA positive results anticipated in fiscal 2024.
• Launch of consumer mobile app will enhance customer engagement.

Negative

• None.

Rockville, MD, Nov. 01, 2022 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTC Pink: XDSL) (“mPhase” or the “Company”), a leading climate technology company with services that transform how both merchants and consumers profit from sustainability-oriented commerce and lifestyle choices, is pleased to provide revenue guidance for its newly implemented Pebble sustainability business. This new service revenue is forecast to rise from $1.75 million in fiscal year 2023, to $18.2 million in fiscal 2024, and $52.56 million by fiscal 2025; with EBITDA positive results expected in fiscal 2024. This represents a CAGR of 448% over this three-year period. As a reminder, the Company’s fiscal year ends on June 30^th.

For purposes of clarification, please note that today’s forecast is for the new Pebble sustainability services business only and does not include the Company’s legacy learning business revenue. The new sustainability services revenue is expected to be primarily recurring, generated from monthly subscriptions with hospitality partners; and from consumers who upgrade to the Pebble premium service.

The core value of the Pebble ecosystem is its industry-first integration of energy, EV and sustainability services, supported by consumer loyalty engagement technology that rewards consumers for their sustainable purchase decisions. Under this strategy, EV charging is at the center of the Company’s catalogue of sustainability offerings. Pebble will install and operate its own charger network plus leverage existing public chargers to directly link EV fueling to sales for Pebble hospitality partners. The software backbone of the ecosystem consists of a multi-cloud services platform that powers a consumer-first mobile app and combines AI, location-awareness, tokenization and game-mechanics to drive sales and ROI for hospitality members of the network. The platform is uniquely suited to gain traction with consumers in the sustainability-conscious GenX and millennial demographic groups, a growing area of emphasis for retailers.

“Our rebranding to Pebble is more than just a name change, it is a commitment to a new vision that signifies the arrival of sustainability services that provide valuable benefits for both merchants and consumers,” explained CEO Richard Thorpe. “Pebble not only strengthens the relationship between retailers and consumers, but also mitigates the impact of climate change by influencing consumer behavior and providing a catalyst for consumers to reach their own personal sustainability goals.”

Operationally, the Company has entered its go-to-market phase and is in active discussions with a growing list of major hospitality brands. The Pebble consumer mobile app is due to be released this quarter, and will be available on both the App Store and on the Google Play store. The Company is in the process of a corporate-wide rebranding to the Pebble name, along with a new stock symbol. As this rebranding commences, management intends to provide an investor call and online materials to better explain the Pebble strategy to shareholders and prospective customers.

About mPhase Technologies

mPhase is a climate technology company rebranding as “Pebble” to offer a suite of cloud-based mobility and consumer engagement services that incentivize consumers for purchases and lifestyle choices that promote sustainability goals. The Pebble platform combines proprietary AI, location-awareness, tokenization, game-mechanics, EV-charger geofencing, and a Company-owned EV charging network to make personal sustainability easier and more rewarding. This ecosystem is unique in that it is tailored to each individual’s tastes and needs, creating highly customizable sales opportunities for retailers, along with a scalable platform to benefit from the evolution to EV-centric travel and commerce.

Additional information can be found at the mPhase website, www.mphasetech.com.

Investor Contact:
ir@pebble.tech

FAQ

What is the revenue forecast for mPhase Technologies' new Pebble services in fiscal 2024?

mPhase Technologies expects revenue from its Pebble services to reach $18.2 million in fiscal 2024.

When is mPhase Technologies' fiscal year end?

mPhase Technologies' fiscal year ends on June 30th.

What is the expected EBITDA status for the Pebble business in fiscal 2024?

The Pebble services business is expected to be EBITDA positive in fiscal 2024.

What growth rate is anticipated for mPhase Technologies' Pebble services revenue?

A CAGR of 448% is projected for Pebble services revenue over the next three years.

What major rebranding is mPhase Technologies undergoing?

mPhase Technologies is rebranding as 'Pebble' to focus on sustainability services.