PHOENIX, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Mobivity Holdings Corp. (OTCQB:MFON), a provider of technology connecting mobile gaming audiences to real-world brands and products, today announced financial results for the second quarter ("Q2") ending June 30, 2024. Recent Business Highlights Grew consumer audience by more than 40% to over 16 million consumers Increased the number of active programs by ~10% Partnered with Paytronix, a leading provider of loyalty and guest engagement solutions, to expand the reach of Mobivity's Connected Rewards programs and seamlessly integrate with Paytronix customers Added new brand partners, including leaders in fuel and convenience Bryce Daniels, Mobivity President, stated, "Mobivity's transformation continued in the second quarter, with the audience for our Connected Rewards platform expanding by 40% and the number of active programs growing for another consecutive quarter. With Connected Rewards as our primary focus, we added a number of new brands during the quarter and nearly doubled our pipeline since the end of the previous quarter, reinforcing our optimism for a return to revenue growth in the second half of this year." Kim Carlson, Mobivity COO, stated, "The new, strategic partnership we signed with Paytronix is indicative of the progress we are making with the Connected Rewards program. Through the partnership, we are now reaching many, many more consumers and driving more traffic for the brands we are engaged with. Business momentum is accelerating, and our pipeline of qualified opportunities is more robust than ever." Consolidated Financial Summaries (In thousands) Three months ended June 30, Six months ended June 30,     2024     2023     $$   %   2024     2023   $$ % Revenue   $1,473     $1,861     ($388)   (20.9%)     $3,074     $3,743     ($669)   (17.9%)   Gross profit   $494     $490     $4   0.8%     $1,130     $1,305     ($174)   (13.4%)   Gross margin   33.5%     26.3%     N/A   +720 bps     36.8%     34.9%     N/A   +190 bps   Operating Expenses   $2,508     $2,515     ($7)   (0.3%)     $5,001     $5,549     ($548)   (9.9%)   Loss from operations   ($2,014)     ($2,025)     $11   0.5%     ($3,870)     ($4,244)     $373   8.8%   Net loss   ($2,481)     ($2,272)     ($209)   (9.2%)     ($4,735)