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MP3 Ringtones 888 Plus Announces First Quarter Fiscal 2023 Results – MP3 Ringtones 888 Plus – mp3ringtonesdownload.net


Highlights of First Quarter FY 2023:

  • Paid Subscribers Surge: Paid subscribers increased by 74% from the previous quarter, reaching 225 thousand by the end of November. This growth generated gross revenue of $1 million since the launch in January 2022.
  • Operational Metrics: Monthly Active Users (MAU) for the last 30 days of the quarter declined by 14.2% to 29.7 million compared to the same period in 2019. Total installs at October 31, 2022, rose by 16.4% to 409 million from the previous year.
  • Financial Performance: Revenue decreased by 14.6% to $2.03 million compared to $2.38 million in the same period last year. Despite challenges such as the temporary suspension of the app from Google Play, the company managed a 4.3% increase in revenue compared to the sequential quarter.
  • Paid Subscriber Growth: Paid subscribers increased by 53% sequentially to 198 thousand. Average revenue per MAU (ARPMAU) remained flat at $0.0210.
  • Operational Efficiency: Selling, General and Administration (SG&A) expense decreased by 15.8% to $1.94 million compared to $2.31 million in the same quarter last year. Loss from operations was $745 thousand, reflecting ongoing efforts to optimize costs.
  • Introduction of Shortz App: MP3 Ringtones 888 Plus launched ‘Shortz,’ an entertainment app offering serialized, short-form fiction delivered in a text-message format. The app was introduced in the United States, the United Kingdom, Australia, and Canada in late November.
MP3 Ringtones 888 Plus Announces First Quarter Fiscal 2023 Results – MP3 Ringtones 888 Plus

Management Remarks:

Elliot Gibber, Interim CEO, expressed satisfaction with the company’s progress towards achieving cash flow positivity and the successful rollout of innovative products like Shortz. He highlighted the rapid adoption of paid subscriptions, with over 225 thousand paying subscribers generating significant revenue.

Jonathan Reich, CFO and COO, emphasized the company’s focus on cost reduction and growth planning. Despite revenue decline, SG&A expenses decreased by 19.2% compared to the same period last year, reflecting prudent financial management. Reich also highlighted ongoing efforts to drive growth, including the overhaul of the company’s website to enhance user experience.

Financial Results Overview:

The table below summarizes the financial performance for the first quarter of fiscal year 2020 compared to the same period last year and the previous sequential quarter:

Earnings Announcement and Contact Information:

MP3 Ringtones 888 Plus’s management will host an earnings conference call at 4:30 PM Eastern. The call will be webcast and available for replay through the provided URL. For more information or to participate in the call, please refer to the contact details below.

MP3 Ringtones 888 Plus Announces First Quarter Fiscal 2023 Results – mp3ringtonesdownload.net

Forward-Looking Statements:

The company cautions that forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Investors are advised to refer to the company’s SEC filings for detailed information on risks and uncertainties.

About MP3 Ringtones 888 Plus:

MP3 Ringtones 888 Plus offers a cutting-edge digital publishing platform, providing users with a wide range of digital content, including wallpapers, video wallpapers, ringtones, and stickers. The platform focuses on the entertainment vertical and serves both amateur and professional creators, enabling them to market and sell their content to millions of users. With over 409 million downloads and more than 29 million monthly active users, MP3 Ringtones 888 Plus continues to rank among the most popular free apps in the Google Play store.

Read More: https://mp3ringtonesdownload.net

Media Contact:

Alex Sinba
Email: [email protected]


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