Mobiquity Technologies Reports Second Quarter 2022 Financial Results and Business Update
August 19 2022 - 8:30AM
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
TechnologiesMobiquity 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 StatementThis 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 GroupEmail:
john@TheColumbiaMarketingGroup.comPhone: 646-736-1900
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