Motricity revenues grow to $30.4 million in Q2

Mobile content solutions provider Motricity reported Q2 2010 revenues of $30.4 million in its first quarter as a publicly traded company, up 5 percent sequentially. The firm credited the increase to managed services revenues, up 5 percent to $21.9 million, adding that professional services revenues grew 4 percent to $8.5 million. Net loss for the second quarter totaled $11.6 million, including a one-time charge of $17.5 million for stock-based compensation related to vesting of previous restricted stock grants based upon completion of Motricity's IPO--the company reported net losses of $1.5 million for the first quarter. As the second quarter closed, Motricity had cash and cash equivalents of $74.0 million, with no debt outstanding; its IPO generated $51.4 million in proceeds, net of issuance costs paid through June 2010.

Looking ahead at the third quarter, Motricity forecasts revenues will increase to about $37 million to $38 million, galvanized by accelerating mobile mobile data services usage among its carrier customers' subscribers, the deployment of new solutions for several customers and substantial implementation projects for AT&T and Indonesian operator XL Axiata. Motricity's mCore platform offers operators tools to manage their mobile content, web, messaging and marketing efforts--per an SEC filing earlier this eyar, the firm provides mobile data services to more than 30 million subscribers worldwide.

For more on Motricity's Q2 results:
- read this release
- check out FierceWireless' Q2 earnings page

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