Mobiquity Technologies, a leading advertising technology and data intelligence company, reported a significant increase in revenue for the quarter ended September 30, 2024. The company's revenue rose to $566,044, marking a 219% increase compared to $177,271 in the same period last year. This growth is attributed to a surge in political advertising revenue. Despite the revenue increase, the company incurred a net loss of $1,131,316 for the quarter, an improvement from a net loss of $1,394,271 in the previous year. The cost of revenues stood at $230,296, which is 41% of the total revenue, showing a decrease in percentage from 64% last year. Gross profit for the quarter was $335,748, up from $63,097 in the prior year, reflecting a higher gross margin. Operating expenses decreased by 10% to $1,314,839, down from $1,458,136, due to...Show More

Mobiquity Technologies, a leading advertising technology and data intelligence company, reported a significant increase in revenue for the quarter ended September 30, 2024. The company's revenue rose to $566,044, marking a 219% increase compared to $177,271 in the same period last year. This growth is attributed to a surge in political advertising revenue. Despite the revenue increase, the company incurred a net loss of $1,131,316 for the quarter, an improvement from a net loss of $1,394,271 in the previous year. The cost of revenues stood at $230,296, which is 41% of the total revenue, showing a decrease in percentage from 64% last year. Gross profit for the quarter was $335,748, up from $63,097 in the prior year, reflecting a higher gross margin. Operating expenses decreased by 10% to $1,314,839, down from $1,458,136, due to reductions in professional fees and licenses. For the nine months ended September 30, 2024, Mobiquity Technologies generated $1,096,218 in revenue, a 149% increase from $441,010 in the same period of 2023. The company's operating loss for the nine months was $3,050,198, a decrease from $4,261,924 in the prior year. The company continues to focus on developing new products and services, with significant investments in software development. Mobiquity Technologies also announced an expansion of its strategic partnership with Context Networks, integrating digital ads into slot machines for casinos, which is expected to impact future operations positively.