ShareNEW HOPE, Pa.–(BUSINESS WIRE)–
MeetMe, Inc. (NASDAQ: MEET), a public market leader for social
discovery, announced today that its mobile CPMs in the United States
increased 14% year over year for the month of November. MeetMe also
reiterated its fourth quarter and full year 2016 guidance ahead of its
participation in the 5th Annual ROTH Utah Corporate Access
Event taking place December 9-11, 2016 in Park City, Utah. MeetMe’s
Chief Revenue Officer, William Alena, will be meeting with institutional
investors at the event.
Fourth Quarter 2016 Guidance
-
Revenue for the quarter is expected to be in the range of $27.5
million and $29.0 million, representing growth of between 38% and 46%
year over year. -
Adjusted EBITDA for the quarter is expected to be in the range of
$11.5 million and $13.5 million, representing growth of between 28%
and 50% year over year.
Full Year 2016 Guidance
-
Revenue for the year is expected to be in the range of $74.5 million
to $76.0 million, representing growth of between 31% and 34% year over
year. -
Adjusted EBITDA for the year is expected to be in the range of $28.0
million to $30.0 million, representing growth of between 38% and 48%
year over year.
To arrange a one-on-one meeting with Mr. Alena at the Roth event, please
contact either your ROTH Capital Partners salesperson, or the MKR Group
at meet@mkr-group.com.
About MeetMe, Inc.
Through its MeetMe® and Skout® mobile apps and websites, MeetMe is a
leading social network for meeting new people in the US and a public
market leader for social discovery (NASDAQ: MEET). MeetMe makes it easy
to discover new people to chat with on mobile devices. With
approximately two million total daily active users, MeetMe is fast
becoming the social gathering place for the mobile generation. MeetMe is
a leader in mobile monetization with a diverse revenue model comprising
advertising, user credits, and subscriptions. MeetMe’s apps are
available on iPhone, iPad, and
Android in
multiple languages worldwide. For more information, please visit meetmecorp.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, including whether our mobile CPMs in the United States will
increase in the future, whether we will participate in the ROTH event
and hold upcoming investor meetings as anticipated, and whether we will
obtain projected revenue and adjusted EBITDA as anticipated for the
fourth quarter and the full year 2016,. All statements other than
statements of historical facts contained herein are forward-looking
statements. The words “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “could,” “target,”
“potential,” “project,” “is likely,” “expect” and similar expressions,
as they relate to us, are intended to identify forward-looking
statements. We have based these forward-looking statements largely on
our current expectations and projections about future events and
financial trends that we believe may affect our financial condition,
results of operations, business strategy and financial needs. Important
factors that could cause actual results to differ from those in the
forward-looking statements include the risk that our applications will
not function easily or otherwise as anticipated, the risk that we will
not launch additional features and upgrades as anticipated, the risk
that unanticipated events affect the functionality of our applications
with popular mobile operating systems, any changes in such operating
systems that degrade our mobile applications’ functionality and other
unexpected issues which could adversely affect usage on mobile devices.
Further information on our risk factors is contained in our filings with
the Securities and Exchange Commission (“SEC”), including the Form 10-K
for the year ended December 31, 2015, the Form 10-Q for the quarter
ended June 30, 2016 and the Form 8-K filed on October 4, 2016. Any
forward-looking statement made by us herein speaks only as of the date
on which it is made. Factors or events that could cause our actual
results to differ may emerge from time to time, and it is not possible
for us to predict all of them. We undertake no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be required
by law.
Regulation G – Non-GAAP Financial Measures
The Company uses financial measures, including Adjusted EBITDA, which
are not calculated and presented in accordance with U.S. generally
accepted accounting principles (“GAAP”) in evaluating its financial and
operational decision making and as a means to evaluate period-to period
comparison. The Company uses these non-GAAP financial measures for
financial and operational decision-making and as a means to evaluate
period-to-period comparisons. The Company presents these non-GAAP
financial measures because it believes them to be an important
supplemental measure of performance that is commonly used by securities
analysts, investors and other interested parties in the evaluation of
companies in our industry.
The Company defines Adjusted EBITDA as earnings (or loss) from
continuing operations before interest expense, change in warrant
liability, benefit or provision for income taxes, depreciation and
amortization, and non-cash stock-based compensation, non-recurring
acquisition and restructuring expenses, gain or loss on cumulative
foreign currency translation adjustment, gain on sale of asset, bad debt
expense outside the normal range, and the goodwill impairment charges.
The Company excludes stock-based compensation because it is non-cash in
nature.
Non-GAAP financial measures should not be considered as an alternative
to net income, operating income, cash flow from operating activities, as
a measure of liquidity or any other financial measure. They may not be
indicative of the historical operating results of the Company nor is it
intended to be predictive of potential future results. Investors should
not consider non-GAAP financial measures in isolation or as a substitute
for performance measures calculated in accordance with GAAP.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161205005472/en/
MKR Group, Inc.
Todd Kehrli or Jim Byers
(323) 468-2300
meet@mkr-group.com
Source: MeetMe, Inc.