Mobivity Q2 2014 revenue up 2% YoY

Mobivity Holdings Corp. (OTC: MFON) said that revenue for the second quarter of 2014 was USD1,110,000, up two percent from USD1,086,000 in the second quarter of 2013.

The company attributed the increase in revenue for the quarter to contributions from the company´s SmartReceipt product, which was acquired during the first quarter of 2014. Those contributions were offset by year-over-year decreases in the company´s SMS text messaging product due to the impact of changes made to the Federal Communication Commission´s interpretation of the Telephone Consumer Protection Act that went into effect on October 16, 2013 and to the reduction in revenues from short-term projects and legacy non-strategic customers.

Compared to the first quarter of 2014, the company attained growth in its SMS text messaging product revenues as customers continue to rebuild their SMS subscriber databases.

Mobivity is a provider of a suite of patented mobile marketing technologies designed to drive sales, enhance customer engagement, and reward customer loyalty for local businesses and national brands. For more information, visit www.mobivity.com.

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