Mobiquity Technologies $MOBQ rose more than 28% in early trading on August 19, 2022, after the company reported an eye-popping 273% growth in sales year-over-year.
Mobiquity Technologies Reports Second Quarter 2022 Financial Results and Business Update
On August 19, 2022, Mobiquity Technologies, Inc. (NASDAQ: MOBQ), a leading provider of next-generation advertising technology, announced financial results for the second quarter of 2022 and provided a business update. Mobiquity Technologies reported Q2 EPS of (20c) versus (81c) from last year. The company reported Q2 revenue of $1.9M versus $702,434 from last year.
- 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% in Q2 2022 versus Q2 2021 and by 20% for the 6-months 2022 versus 6-months 2021
- 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% in 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.”
Mobiquity Technologies $MOBQ Chart Technical Analysis
Mobiquity Technologies $MOBQ stock is in a weak uptrend after the incredible sales growth reported in Q2. Short-term indicators suggest a continuation of the trend. Recent price action has been a bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.