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Mobivity Holdings Q1 loss narrows YOY

Mobivity Holdings Corp. said its first-quarter normalized net income was a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss decreased 42.4% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $805,620, compared with a loss of $1.1 million in the year-earlier period.

The normalized profit margin rose to negative 46.0% from negative 115.0% in the year-earlier period.

Total revenue climbed 96.3% on an annual basis to $1.8 million from $940,170, and total operating expenses grew 16.9% from the prior-year period to $3.1 million from $2.7 million.

Reported net income totaled a loss of $1.3 million, or a loss of 4 cents per share, compared to a loss of $1.7 million, or a loss of 8 cents per share, in the prior-year period.