The Meet Group to Present at Upcoming Investor Conferences

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced that its management is scheduled
to present at the following investor conferences:

Oppenheimer 21st Annual Technology, Internet
& Communications Conference

August 7, 2018
4:25
PM – 5:00 PM
The Four Seasons Hotel
Boston, MA

Canaccord Genuity 38th Annual Growth
Conference

August 8, 2018
12:30 PM – 12:55 PM
The
Intercontinental Boston
Boston, MA

The Company will also be hosting one-on-one meetings with institutional
investors.

A live and archived audio webcast of the company’s presentation will be
available on the Investor Relations section of The Meet Group’s website
at http://ir.themeetgroup.com.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe©, LOVOO©, Skout©, and Tagged©, keep millions of
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter
or LinkedIn.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Reports Second Quarter 2018 Financial Results

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today reported financial results for its second
quarter ended June 30, 2018.

Second Quarter 2018 Financial Highlights

  • Total revenue of $42.8 million, up 37% year over year
  • GAAP net loss of $0.2 million, or $0.00 per diluted share, compared to
    GAAP net income of $0.9 million, or $0.01 per diluted share in the
    prior year quarter
  • Adjusted EBITDA of $7.6 million, up 3% from the prior year quarter
  • Non-GAAP net income of $6.4 million, or $0.08 per diluted share,
    compared to $6.6 million or $0.09 per diluted share in the prior year
    quarter

(See the important discussion about the presentation of non-GAAP
financial measures, and reconciliation to the most direct comparable
GAAP financial measure, below.)

“Our strong momentum continued into the second quarter,” said Geoff
Cook, Chief Executive Officer. “We made outstanding progress in video
and reported better than anticipated results in advertising,
contributing to growth in revenue and Adjusted EBITDA. Combined with our
recent rollout of Live to Lovoo and the beta launch on MeetMe of Quick,
our new 1-on-1 livestreaming feature, we believe we have set the stage
for sustainable long-term revenue growth.

“Our investment in livestreaming video continues to yield strong
results,” continued Cook. “The number of video users and video revenue
per user both increased sequentially. In less than two years, Live has
become foundational to our business, central to our user experience and
a key driver of our improving financial performance. No product in our
history has grown faster and none has transformed our company to the
degree that Live has. What’s more, we have further diversified our
business and are now generating 60% of our revenue from user pay, up
from 26% in the year ago quarter. In July alone, we increased the
annualized revenue run rate for video to $37 million, up from $35
million in June. Having now rolled out Live to all of our apps, we
believe the opportunity to continue to grow video engagement and revenue
is significant.”

In addition to announcing its second quarter results, the Company
announced that Nick Hermansader has re-joined the company as Senior Vice
President of Advertising. Nick joined The Meet Group from Imgur, an
image sharing and hosting network. He previously worked at The Meet
Group, having served as Vice President of Advertising Operations from
2013 to 2017. Additionally, Bill Alena, Chief Revenue Officer of The
Meet Group, has left the Company effective July 31, 2018 to pursue other
opportunities.

Cook commented, “I am thrilled to have Nick rejoin our team. He brings a
wealth of knowledge and a data-driven approach to managing mobile and
online advertising. We look forward to his contributions to the team.”

Continued Cook, “Bill has been a tremendous contributor to our company
for many years. He joined us as the Vice President of Advertising at
myYearbook in 2007 and served as Chief Revenue Officer of The Meet Group
since 2011. He was instrumental in creating our advertising strategy. I
want to thank Bill for his tremendous contributions to our company. We
wish him well in the future.”

Second Quarter Financial Results

For the second quarter of 2018, the Company reported revenue of $42.8
million, an increase of 37% from $31.3 million in the prior year quarter.

GAAP net loss was $0.2 million, or $0.00 per diluted share, compared to
GAAP net income of $0.9 million, or $0.01 per diluted share in the prior
year quarter. Adjusted EBITDA in the second quarter of 2018 was $7.6
million compared to $7.4 million in the prior year quarter.

The Company ended the quarter with $20.9 million in cash and cash
equivalents.

Company Outlook

The Company is providing the following outlook for the third quarter of
2018 and is increasing its outlook for the full year 2018.

Third quarter 2018:

  • Revenue in the range of $43 million to $44 million
  • Adjusted EBITDA in the range of $7.4 million to $7.8 million

Full year 2018:

  • Revenue in the range of $166 million to $168 million
  • Adjusted EBITDA in the range of $27 million to $28 million
 

THE MEET GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

 
     

June 30,
2018

 

December 31,
2017

ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 20,922,457 $ 24,158,444
Accounts receivable, net of allowance of $637,802 and $527,958 at
June 30, 2018 and December 31, 2017, respectively
23,866,941 26,443,675
Prepaid expenses and other current assets 5,253,503   3,245,174  
Total current assets 50,042,901 53,847,293
Restricted cash 500,000 894,551
Goodwill 149,227,248 150,694,135
Property and equipment, net 3,632,350 4,524,118
Intangible assets, net 42,342,822 48,719,428
Deferred taxes 16,115,201 15,521,214
Other assets 1,878,851   1,144,032  
Total assets $ 263,739,373   $ 275,344,771  
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 5,325,941 $ 6,277,846
Accrued liabilities 17,812,588 19,866,438
Current portion of long-term debt 15,000,000 15,000,000
Current portion of capital lease obligations 187,606 254,399
Deferred revenue 5,006,501   4,433,450  
Total current liabilities 43,332,636 45,832,133
Long-term capital lease obligations, less current portion, net 110,056 192,137
Long-term debt 33,301,419 40,637,106
Long-term derivative liability 2,126,536 2,995,657
Other liabilities 114,340   147,178  
Total liabilities 78,984,987   89,804,211  
STOCKHOLDERS’ EQUITY:
Preferred stock, $.001 par value; authorized – 5,000,000 shares; 0
shares issued and outstanding at June 30, 2018 and December 31, 2017
Common stock, $.001 par value; authorized – 100,000,000 shares;
73,121,962 and 71,915,018 shares issued and outstanding at June 30,
2018 and December 31, 2017, respectively
73,118 71,918
Additional paid-in capital 412,213,959 408,029,068
Accumulated deficit (225,867,346 ) (221,435,888 )
Accumulated other comprehensive loss (1,665,345 ) (1,124,538 )
Total stockholders’ equity 184,754,386   185,540,560  
Total liabilities and stockholders’ equity $ 263,739,373   $ 275,344,771  
 
 

THE MEET GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

 
      Three Months Ended June 30,   Six Months Ended June 30,
2018   2017 2018   2017
Revenues $ 42,801,745   $ 31,329,468   $ 80,439,538   $ 51,388,265  
Operating costs and expenses:
Sales and marketing 7,753,486 4,599,842 14,801,479 9,705,350
Product development and content 24,411,288 16,526,905 46,512,825 24,984,399
General and administrative 5,154,103 5,160,799 10,623,281 8,023,226
Depreciation and amortization 3,505,180 2,965,175 7,134,783 4,650,014
Acquisition and restructuring 1,036,602   3,769,425   4,386,553   5,269,854  
Total operating costs and expenses 41,860,659   33,022,146   83,458,921   52,632,843  
Income (loss) from operations 941,086   (1,692,678 ) (3,019,383 ) (1,244,578 )
Other income (expense):
Interest income 2,742 1,400 9,950 3,970
Interest expense (671,294 ) (175,254 ) (1,278,980 ) (177,586 )
Gain (loss) on foreign currency transactions 4,216 (9,229 ) 107,259 (11,429 )
Other 28,571     21,627    
Total other expense (635,765 ) (183,083 ) (1,140,144 ) (185,045 )
Income (loss) before income tax benefit 305,321 (1,875,761 ) (4,159,527 ) (1,429,623 )
Income tax benefit (expense) (540,593 ) 2,732,356   (288,406 ) 2,732,064  
Net income (loss) $ (235,272 ) $ 856,595   $ (4,447,933 ) $ 1,302,441  
 
Basic and diluted net income (loss) per common stockholder:
Basic net income (loss) per common stockholder $   $ 0.01   $ (0.06 ) $ 0.02  
Diluted net income (loss) per common stockholder $   $ 0.01   $ (0.06 ) $ 0.02  
 
Weighted average shares outstanding:
Basic 72,753,487   70,122,234   72,369,619   65,632,962  
Diluted 72,753,487   74,885,903   72,369,619   70,569,243  
 
 

THE MEET GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 
      Six Months Ended June 30,
2018   2017
Cash flows from operating activities:
Net income (loss) $ (4,447,933 ) $ 1,302,441
Adjustments to reconcile net income (loss) to net cash provided by
operating activities:
Depreciation and amortization 7,134,783 4,650,014
Stock-based compensation expense 4,259,795 3,502,350
Deferred taxes (441,417 ) (444,230 )
(Gain) loss on foreign currency transactions (107,259 ) 11,429
Bad debt expense 290,426 26,000
Amortization of loan origination costs 164,313 34,342
Changes in operating assets and liabilities:
Accounts receivable 2,141,980 5,862,051
Prepaid expenses, other current assets and other assets (2,426,711 ) 1,610,514
Accounts payable and accrued liabilities 2,344,109 161,914
Deferred revenue 686,332   (54,560 )
Net cash provided by operating activities 9,598,418   16,662,265  
Cash flows from investing activities:
Purchase of property and equipment (256,391 ) (595,126 )
Acquisition of business, net of cash and restricted cash acquired   (65,802,792 )
Net cash used in investing activities (256,391 ) (66,397,918 )
Cash flows from financing activities:
Proceeds from exercise of stock options 232,416 2,778,176
Proceeds from issuance of common stock 42,995,371
Proceeds from exercise of warrants 2,396,250
Payments of capital leases (142,043 ) (139,541 )
Proceeds from long-term debt 15,000,000
Payments for restricted stock awards withheld for taxes (306,120 ) (507,398 )
Payments of contingent consideration (5,000,000 )
Payments on long-term debt (7,500,000 ) (1,875,000 )
Net cash (used in) provided by financing activities (12,715,747 ) 60,647,858  
Change in cash, cash equivalents, and restricted cash prior to
effects of foreign currency exchange rate
(3,373,720 ) 10,912,205
Effect of foreign currency exchange rate (translation) (256,818 ) (11,429 )
Net (decrease) increase in cash, cash equivalents, and restricted
cash
(3,630,538 ) 10,900,776  
Cash, cash equivalents, and restricted cash at beginning of period 25,052,995   22,246,015  
Cash, cash equivalents, and restricted cash at end of period $ 21,422,457   $ 33,146,791  
Supplemental disclosure of cash flow information:
Cash paid for interest $ 1,110,448   $ 140,911  
 
 

THE MEET GROUP, INC. AND SUBSIDIARIES

RECONCILIATION OF TOTAL REVENUE

(UNAUDITED)

 
      Three Months Ended June 30,   Six Months Ended June 30,
2018  

2017(1)

 

2018  

2017(1)

 

$   % $   %   $   % $   %  
User pay revenue $ 25,570,553 59.7 % $ 8,144,890 26.0 % $ 47,976,083 59.6 % $ 9,760,165 19.0 %
Advertising 17,231,192   40.3 % 23,184,578   74.0 %   32,463,455   40.4 % 41,628,100   81.0 %  
Total revenue $ 42,801,745   100.0 % $ 31,329,468   100.0 %   $ 80,439,538   100.0 % $ 51,388,265   100.0 %  

(1) Prior period amounts have not been adjusted under the modified
retrospective adoption method.

 

THE MEET GROUP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA

(UNAUDITED)

 
      Three Months Ended June 30,   Six Months Ended June 30,
2018   2017 2018   2017
Net income (loss) $ (235,272 ) $ 856,595 $ (4,447,933 ) $ 1,302,441
 
Interest expense 671,294 175,254 1,278,980 177,586
Income tax (benefit) expense 540,593 (2,732,356 ) 288,406 (2,732,064 )
Depreciation and amortization 3,505,180 2,965,175 7,134,783 4,650,014
Stock-based compensation expense 2,090,870 2,368,192 4,259,795 3,502,350
Acquisition and restructuring 1,036,602 3,769,425 4,386,553 5,269,854
(Gain) loss on foreign currency transactions (4,216 ) 9,229   (107,259 ) 11,429  
Adjusted EBITDA $ 7,605,051   $ 7,411,514   $ 12,793,325   $ 12,181,610  
 
GAAP basic net income (loss) per common stockholder $   $ 0.01   $ (0.06 ) $ 0.02  
GAAP diluted net income (loss) per common stockholder $   $ 0.01   $ (0.06 ) $ 0.02  
Basic adjusted EBITDA per common stockholder $ 0.10   $ 0.11   $ 0.18   $ 0.19  
Diluted adjusted EBITDA per common stockholder $ 0.10   $ 0.10   $ 0.16   $ 0.17  
 
Weighted average shares outstanding:
Basic 72,753,487   70,122,234   72,369,619   65,632,962  
Diluted 78,240,935   74,885,903   77,574,279   70,569,243  
 
 

THE MEET GROUP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME

(UNAUDITED)

 
      Three Months Ended June 30,   Six Months Ended June 30,
2018   2017 2018   2017
GAAP Net income (loss) $ (235,272 ) $ 856,595 $ (4,447,933 ) $ 1,302,441
 
Stock-based compensation expense 2,090,870 2,368,192 4,259,795 3,502,350
Amortization of intangibles 2,954,485 2,378,152 6,011,094 3,604,307
Income tax (benefit) expense 540,593 (2,732,356 ) 288,406 (2,732,064 )
Acquisition and restructuring 1,036,602   3,769,425   4,386,553   5,269,854  
Non-GAAP net income $ 6,387,278   $ 6,640,008   $ 10,497,915   $ 10,946,888  
 
GAAP basic net income (loss) per common stockholder $   $ 0.01   $ (0.06 ) $ 0.02  
GAAP diluted net income (loss) per common stockholder $   $ 0.01   $ (0.06 ) $ 0.02  
Basic Non-GAAP net income per common stockholder $ 0.09   $ 0.09   $ 0.15   $ 0.17  
Diluted Non-GAAP net income per common stockholder $ 0.08   $ 0.09   $ 0.14   $ 0.16  
 
Weighted average shares outstanding:
Basic 72,753,487   70,122,234   72,369,619   65,632,962  
Diluted 78,240,935   74,885,903   77,574,279   70,569,243  
 

Webcast and Conference Call Details

Management will host a webcast and conference call to discuss second
quarter 2018 financial results today, August 1, 2018 at 8:30 a.m.
Eastern time. To access the call dial 866-572-9351 (US and Canada) or
703-736-7482 (International) and when prompted provide the participant
passcode 1467378 to the operator. An audio replay will be available at
855-859-2056 domestically or 404-537-3406 internationally, using
passcode 1467378 through August 8, 2018. In addition, a webcast of the
conference call will be available live on the Investor Relations section
of the Company’s website at www.themeetgroup.com
and a replay of the webcast will be available for 90 days.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe©, LOVOO©, Skout©, and Tagged©, keep millions of
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter
or LinkedIn.

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 third quarter 2018 and full year 2018 revenue
and Adjusted EBITDA will be in the projected range, whether momentum
will continue as expected, whether we have set the stage for sustainable
long-term revenue growth as expected, whether our investment in
livestreaming video will continue to yield strong results and whether
the opportunity to continue to grow video engagement and revenue is
significant. 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, 2017 filed with the SEC on March 16, 2018 and our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2018 filed with the
SEC on May 7, 2018. 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 Measures

The Company defines mobile traffic and engagement metrics (including
MAU, DAU, chats per day, and new users per day) to include mobile app
traffic for all properties and mobile web traffic for MeetMe, Skout and
Lovoo.

The Company uses Adjusted EBITDA and Non-GAAP Net Income, 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. We refer you to the reconciliations below.

The Company defines Adjusted EBITDA as earnings (or loss) from
operations before interest expense, benefit or provision for income
taxes, depreciation and amortization, stock-based compensation, warrant
obligations, non-recurring acquisition, restructuring or other expenses,
gain or loss on cumulative foreign currency translation adjustment, gain
on sale of asset, bad debt expense outside the normal range, and
goodwill and long-lived asset impairment charges. The Company excludes
stock-based compensation because it is non-cash in nature. The Company
defines Non-GAAP Net Income as earnings (or loss) before benefit or
provision for income taxes, amortization of intangibles, goodwill and
long-lived asset impairment charges, non-recurring acquisition and
restructuring costs, bad debt expense outside the normal range and
non-cash stock based compensation.

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.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Partners with Ryan’s Well Foundation to Give Back on National Friendship Day

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ:MEET), a public market leader in the mobile
meeting space, is partnering with the Ryan’s Well Foundation to bring
clean water to people in need, by releasing a limited edition Ryan’s
Well virtual gift to users on the popular MeetMe and Skout applications.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180726005831/en/

The Meet Group Partners with Ryan’s Well Foundation to Give Back on National Friendship Day (Graphic ...

The Meet Group Partners with Ryan’s Well Foundation to Give Back on National Friendship Day (Graphic: Business Wire)

The
Ryan’s Well Foundation
is a charitable organization founded in 2001
and has provided access to clean water and sanitation to more than
924,000 vulnerable people in 16 developing countries worldwide. In honor
of National Friendship Day on August 5th, The Meet Group’s popular
livestreaming apps MeetMe and Skout will offer a custom gift that can be
purchased to help raise money for this worldwide issue.

“Our mission is to meet the universal need for human connection,” said
Catherine Connelly, co-founder and VP of Brand Strategy at The Meet
Group. “This Friendship Day, we want our members to come together as a
community to help others in need around the world. One in six people
don’t have access to safe drinking water. Through partnering with Ryan’s
Well to bring clean water to the poorest regions of the world, we hope
to further our mission and have our members form meaningful connections
for an important global cause.”

The Meet Group will make a donation for every one of the Ryan’s Well
gifts users send up to $10,000 to Ryan’s Well Foundation over the
campaign. The Ryan’s Well gift will be available from July 26th through
August 9th. Celebrity country singer, Lindsay Ell, will support the
cause by hosting a livestream on the MeetMe app. To watch the broadcast, download
the MeetMe app.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, entertain millions
of mobile daily active users, generating untold numbers of casual chats,
friendships, dates, and marriages. Our apps, available on iPhone, iPad,
and Android in multiple languages, combine product innovation with
sophisticated data science to both entertain and connect our audience.
The Meet Group has a diversified revenue mix consisting of in-app
purchases, subscription, and advertising, and we have offices in New
Hope, Philadelphia, San Francisco, Dresden, and Berlin. For more
information, visit themeetgroup.com,
and follow us on Facebook,
Twitter
or LinkedIn.

The Meet Group, Inc.
Media Contact:
Brandyn
Bissinger, 267-446-7010
bbissinger@themeetgroup.com
or
Investor
Contact:

Leslie Arena, 267-714-6418
larena@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Announces Date of Earnings Release and Conference Call for Second Quarter 2018 Financial Results

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced that its second quarter 2018
financial results will be issued in a press release on Wednesday, August
1, 2018, before the open of the market. The company will host a
conference call at 8:30 a.m. ET to discuss the financial results with
the investment community.

 
What: The Meet Group Second Quarter 2018 Earnings Conference Call
 
When: Wednesday, August 1, 2018, at 8:30 a.m. Eastern Time
 
Dial-In: 866-572-9351 (US and Canada)
703-736-7482 (International)
Passcode: 1467378
 
Webcast:

To access the live and replay webcast, please visit the investor
relations section of The Meet Group’s website at http://www.themeetgroup.com.

 
Call Replay:

An audio replay will be available at 855-859-2056 domestically or
404-537-3406 internationally, using passcode 1467378 through
August 8, 2018.

 

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful livestreaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep millions of
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Brings Live Video to Germany

Annualized Video Revenue Run Rate Now Tops $35 Million

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ:MEET), a public market leader in the mobile
meeting space, announced that it has begun the roll out of live video in
Germany on LOVOO, one of the largest German-speaking dating apps by
downloads, and provided an update to its livestreaming video revenue run
rate.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180718005214/en/

Love. Live. LOVOO. (Graphic: Business Wire)

Love. Live. LOVOO. (Graphic: Business Wire)

“We are excited to launch LOVOO Live in Germany,” said Geoff Cook, Chief
Executive Officer of The Meet Group. “LOVOO is our largest app by daily
active users, and Germany is by far its largest country. With LOVOO Live
now rolling out in Germany and expected to be fully available in the
coming weeks, we have brought live video to all of our major apps. Now,
we are focused on a deep product pipeline that we believe will continue
to grow our livestreaming audience and monetization.”

“Our livestreaming video revenue continues to grow,” said Cook. “Our
annualized video revenue run rate now exceeds $35 million based on
June’s results, up 20% in two months. With our 1-on-1 livestreaming
feature, Quick™, planned for launch later this summer, and with LOVOO
and Tagged, which we believe are still very early in their monetization
trajectory, we are focused on rapidly expanding our livestreaming
business.”

“The early monetization data coming from LOVOO in other markets has been
good,” continued Cook. “In recent weeks, we’ve doubled the number of
gifts per gifter. What’s more, LOVOO not only has the highest share of
gifters at launch of any app in our portfolio, it is already on par with
our highest performing app, MeetMe, on that important metric, with
approximately 3% of viewers sending gifts. We believe livestreaming
enables dating apps to expand into social entertainment platforms and
that we are well positioned to benefit from this global trend.”

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful livestreaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, entertain millions
of mobile daily active users, generating untold numbers of casual chats,
friendships, dates, and marriages. Our apps, available on iPhone, iPad,
and Android in multiple languages, combine product innovation with
sophisticated data science to both entertain and connect our audience.
The Meet Group has a diversified revenue mix consisting of in-app
purchases, subscription, and advertising, and we have offices in New
Hope, Philadelphia, San Francisco, Dresden, and Berlin. For more
information, visit themeetgroup.com,
and follow us on Facebook,
Twitter
or LinkedIn.

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 we will successfully execute on our product
pipeline and if so whether it will continue to grow our livestreaming
audience and monetization, whether our livestreaming video revenue will
continue to grow, whether our annualized video revenue run rate will
continue to exceed $35 million, whether we will launch our 1-on-1
livestreaming feature later this summer, whether LOVOO and Tagged are
still very early in their monetization trajectory, whether we will
expand our livestreaming business, whether the number of gifts per
gifter will continue to grow, and whether livestreaming will enable our
dating apps to expand into social entertainment platforms, and whether
we are well positioned to benefit from that global trend. 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, 2017 filed with the SEC on March 16,
2018. 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.

The Meet Group, Inc.
Investor Contact:
Leslie
Arena, 267-714-6418
larena@themeetgroup.com
or
Media
Contact:

Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group’s CEO Geoff Cook to Speak at Global Dating Insights Los Angeles and Participate in ROTH London Conference

NEW HOPE, Pa.–(BUSINESS WIRE)–
The
Meet Group, Inc
. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced that its Chief Executive Officer,
Geoff Cook, will speak at Global Dating Insights Los Angeles and
participate in the ROTH London conference.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180613006234/en/

The Meet Group’s CEO Geoff Cook to Speak at Global Dating Insights Los Angeles and Participate in RO ...

The Meet Group’s CEO Geoff Cook to Speak at Global Dating Insights Los Angeles and Participate in ROTH London Conference (Photo: Business Wire)

The Global Dating Insights conference will take place on June 14, 2018,
and is timed with Social
Media Week Los Angeles
, bringing the city and market leaders
together to reimagine human connectivity. Cook’s talk “Video:
The Future of Dating
” will explore how video expands the dating
category into social entertainment.

“Livestreaming is the future of dating,” said Geoff Cook, Chief
Executive Officer of The Meet Group. “Going Live provides feelings of
connection and interaction at times when users need it the most, and I’m
excited to talk about the success we see with this feature across our
portfolio of mobile apps.”

Cook is scheduled to speak alongside industry thought leaders from
Tinder, The League, Grindr, Her and The Inner Circle. The one-day
conference
runs from 1pm – 7pm at Shutters Hotel in Santa Monica.

On Tuesday, June 19, 2018, Cook will host one-on-one meetings with
institutional investors at the Roth London Conference in London, UK.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, entertain millions
of mobile daily active users, generating untold numbers of casual chats,
friendships, dates, and marriages. Our apps, available on iPhone, iPad,
and Android in multiple languages, combine product innovation with
sophisticated data science to both entertain and connect our audience.
The Meet Group has a diversified revenue mix consisting of in-app
purchases, subscription, and advertising, and we have offices in New
Hope, Philadelphia, San Francisco, Dresden, and Berlin. For more
information, visit themeetgroup.com,
and follow us on Facebook,
Twitter
or LinkedIn.

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 livestreaming is the future of dating and
whether livestreaming will achieve success across our portfolio of
mobile apps. 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, 2017 filed with the SEC on March 16, 2018. 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.

The Meet Group
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:

Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group

The Meet Group Launches LOVOO Live in Spain and Italy

Video Rollout Progressing Ahead of Schedule

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ:MEET), a public market leader in the mobile
meeting space, announced the release of live
video on LOVOO
, its leading European dating app, in Spain and Italy.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180612005201/en/

“We are pleased to continue rolling out livestreaming video to the LOVOO
audience, building on our previous launches in Austria, Switzerland, and
France with this expansion to Spain and Italy,” said Geoff Cook, Chief
Executive Officer of The Meet Group. “We are progressing ahead of
schedule, and we expect to bring Live to Germany, LOVOO’s largest
country, later this summer.”

Live gives LOVOO users a brand-new way to interact with one another by
allowing them to broadcast from anywhere at any time. The Live feature
provides a new platform for entertainment and for forming authentic,
meaningful connections.

“We believe LOVOO Live’s early success is confirming that livestreaming
has become important in the context of meeting new people and forming
genuine relationships,” said Florian Braunschweig, co-founder of LOVOO
and GM Europe for The Meet Group. “We’re already seeing the average Live
viewer watch more than 15 minutes per day, and approximately 2% of them
are rewarding broadcasters with gifts for creating content that they
value and a real feeling of connection.”

Cook added, “Alongside our ongoing progress in Europe, we continue to
see solid performance from Live on MeetMe and Skout, with Tagged Live
showing signs of starting on a similar trajectory. As a combined
portfolio, just last week we hit a new record high of 20 million minutes
spent in Live in a single day, up 37% over our highest day in the month
of March.”

About The Meet Group

The Meet Group (NASDAQ:MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, entertain millions
of mobile daily active users, generating untold numbers of casual chats,
friendships, dates, and marriages. Our apps, available on iPhone, iPad,
and Android in multiple languages, combine product innovation with
sophisticated data science to both entertain and connect our audience.
The Meet Group has a diversified revenue mix consisting of in-app
purchases, subscription, and advertising, and we have offices in New
Hope, Philadelphia, San Francisco, Dresden, and Berlin. For more
information, visit themeetgroup.com,
and follow us on Facebook,
Twitter
or LinkedIn.

About LOVOO

Founded in 2012, LOVOO
is a leading European dating app and the largest German-speaking dating
app by downloads. The company is based in Dresden and Berlin, Germany,
and is available in 15 languages around the world. LOVOO changes
people’s lives by changing how they meet through innovative
location-based algorithms and app radar features helping people find
successful matches. Learn more about LOVOO by visiting LOVOO.com,
downloading the app on iPhone or Android, subscribing to the LOVOO blog,
or following LOVOO on Twitter
and Facebook.

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 we will continue rolling out livestreaming video
to the LOVOO audience, whether we will continue to progress ahead of
schedule, whether we will bring LOVOO Live to Germany later this summer,
whether LOVOO Live’s early success is confirming that livestreaming has
become important in the context of meeting new people and forming
genuine relationships, whether Live viewers will continue to watch more
than 15 minutes per day, whether 2% of Live viewers will continue to
reward broadcasters with gifts, whether will continue to see solid
performance from Live on MeetMe and Skout, whether Tagged Live will
continue showing signs of starting on a similar trajectory, and whether
minutes spent in Live will continue to grow. 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, 2017 filed with the SEC on March 16,
2018. 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.

Investors:
The Meet Group
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media:
The
Meet Group
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com
or
LOVOO
Sebastian
Matkey, 0176-62646607
sebastian.matkey@lovoo.com

Source: The Meet Group, Inc.

LOVOO Launches Live Video in France and Switzerland

DRESDEN, Germany–(BUSINESS WIRE)–
LOVOO, a leading European dating app, today announced the launch of live
video in France and Switzerland.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180531005540/en/

LOVE. LIVE. LOVOO. (Photo: Business Wire)

LOVE. LIVE. LOVOO. (Photo: Business Wire)

LOVOO Live enables users to broadcast and view live-streaming video,
invite others to join their streams, chat, and earn virtual gifts,
creating more authentic interactions and making it even easier to meet
new people. The release of live video in France and Switzerland follows
the launch of Live in Austria two weeks ago, where an average of 15% of
users engaged with video on the first day.

“Early Live data from France and Switzerland is good, with the average
user watching more than 15 minutes per day and the average broadcaster
streaming for more than 45 minutes a day, levels comparable to what we
saw in the early days of video on our MeetMe app,” said Geoff Cook,
Chief Executive Officer of The Meet Group.

“What has been surprising is the rapid adoption of gifting on LOVOO,”
continued Cook. “On MeetMe, it took 6 months from the launch of gifts to
reach 2% of viewers giving gifts. On LOVOO, we achieved that milestone
in the first week. Since gifting is the centerpiece of our video
monetization engine, we are heartened to see this early data. We believe
it is a testament to our ever-improving video platform, which enables us
to build a feature once and rapidly deploy it across four different apps
of scale. We expect to continue to execute on our plan to roll out LOVOO
Live on a country-by-country basis throughout the second half of 2018,
with the next major releases planned in Italy, Spain, and Germany.”

Said Florian Braunschweig, co-founder of LOVOO and GM Europe for The
Meet Group: “We believe that livestreaming will play an important role
in the future of dating. Our users want to show themselves and their
world, and livestreaming video is a powerful technology that delivers
not only authenticity and connection but also entertainment. Dating,
relationships, and love are inherently interesting, and we believe Live
will become an important new feature for LOVOO.”

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, entertain millions
of mobile daily active users, generating untold numbers of casual chats,
friendships, dates, and marriages. Our apps, available on iPhone, iPad,
and Android in multiple languages, combine product innovation with
sophisticated data science to both entertain and connect our audience.
The Meet Group has a diversified revenue mix consisting of in-app
purchases, subscription, and advertising, and we have offices in New
Hope, Philadelphia, San Francisco, Dresden, and Berlin. For more
information, visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

About LOVOO

Founded in 2012, LOVOO is
a leading European dating app and the largest German-speaking dating app
by downloads. The company is based in Dresden and Berlin, Germany, and
is available in 15 languages around the world. LOVOO changes people’s
lives by changing how they meet through innovative location-based
algorithms and app radar features helping people find successful
matches. Learn more about LOVOO by visiting LOVOO.com,
downloading the app on iPhone or Android, subscribing to the LOVOO blog,
or following LOVOO on Twitter and Facebook.

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 the early Live data from France and Switzerland
will prove indicative of future data, including the average user
watching time and the average broadcaster streaming time, the rate of
gifting adoption on LOVOO in the future, whether we will continue to
improve our video platform as expected, whether we can rapidly deploy
features across our four apps as expected, whether we will roll out
LOVOO Live on a country-by-country basis throughout the second half of
2018, with the next major releases being in Italy, Spain and Germany,
whether livestreaming will play an important role in the future of
dating, whether our users will continue to want to show themselves and
their world, and whether Live will become an important new feature for
LOVOO. 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, 2017 filed with the SEC on March 16, 2018. 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.

The Meet Group
Investor Contact:
Leslie
Arena, 267-714-6418
larena@themeetgroup.com
or
Media
Contact:

Sebastian Matkey
sebastian.matkey@lovoo.com

Source: The Meet Group

The Meet Group Brings Live Video to France and Switzerland

Continues Rollout to Major LOVOO Countries

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ:MEET), a public market leader in the mobile
meeting space, announced the launch of live video on LOVOO, its leading
European dating app, in France and Switzerland.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180531005209/en/

LOVE. LIVE. LOVOO. (Photo: Business Wire)

LOVE. LIVE. LOVOO. (Photo: Business Wire)

LOVOO Live enables users to broadcast and view live-streaming video,
invite others to join their streams, chat, and earn virtual gifts,
creating more authentic interactions and making it even easier to meet
new people. The release of live video in France and Switzerland follows
the launch of Live in Austria two weeks ago, where an average of 15% of
users engaged with video on the first day.

“Early Live data from France and Switzerland is good, with the average
user watching more than 15 minutes per day and the average broadcaster
streaming for more than 45 minutes a day, levels comparable to what we
saw in the early days of video on our MeetMe app,” said Geoff Cook,
Chief Executive Officer of The Meet Group.

“What has been surprising is the rapid adoption of gifting on LOVOO,”
continued Cook. “On MeetMe, it took 6 months from the launch of gifts to
reach 2% of viewers giving gifts. On LOVOO, we achieved that milestone
in the first week. Since gifting is the centerpiece of our video
monetization engine, we are heartened to see this early data. We believe
it is a testament to our ever-improving video platform, which enables us
to build a feature once and rapidly deploy it across four different apps
of scale. We expect to continue to execute on our plan to roll out LOVOO
Live on a country-by-country basis throughout the second half of 2018,
with the next major releases planned in Italy, Spain, and Germany.”

Said Florian Braunschweig, co-founder of LOVOO and GM Europe for The
Meet Group: “We believe that livestreaming will play an important role
in the future of dating. Our users want to show themselves and their
world, and livestreaming video is a powerful technology that delivers
not only authenticity and connection but also entertainment. Dating,
relationships, and love are inherently interesting, and we believe Live
will become an important new feature for LOVOO.”

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, entertain millions
of mobile daily active users, generating untold numbers of casual chats,
friendships, dates, and marriages. Our apps, available on iPhone, iPad,
and Android in multiple languages, combine product innovation with
sophisticated data science to both entertain and connect our audience.
The Meet Group has a diversified revenue mix consisting of in-app
purchases, subscription, and advertising, and we have offices in New
Hope, Philadelphia, San Francisco, Dresden, and Berlin. For more
information, visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

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 the early Live data from France and Switzerland
will prove indicative of future data, including the average user
watching time and the average broadcaster streaming time, the rate of
gifting adoption on LOVOO in the future, whether we will continue to
improve our video platform as expected, whether we can rapidly deploy
features across our four apps as expected, whether we will roll out
LOVOO Live on a country-by-country basis throughout the second half of
2018, with the next major releases being in Italy, Spain and Germany,
whether livestreaming will play an important role in the future of
dating, whether our users will continue to want to show themselves and
their world, and whether Live will become an important new feature for
LOVOO. 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, 2017 filed with the SEC on March 16, 2018. 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.

The Meet Group, Inc.
Investor Contact:
Leslie
Arena, 267-714-6418
larena@themeetgroup.com
or
Media
Contact:

Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Announces Launch of Live Video on Lovoo in Austria

– Percent of Users Engaging in Video in Austria Reaches 15% in First
Day –

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced the launch of live video on its
Lovoo app in Austria.

“We are thrilled to bring live video to Lovoo,” said Geoff Cook, Chief
Executive Office of The Meet Group. “We’ve been building our video
platform for more than a year-and-a-half, and we are pleased to bring
this compelling product to Lovoo’s European audience. Lovoo is our
largest app by daily active users, providing a meaningful opportunity
for us to continue to grow video revenue.

“Since launching Live in Austria yesterday, we’ve already seen 15% of
users engage with the product, a level comparable to what we had seen in
the early days after launching Live on our MeetMe app,” continued Cook.
“As I’ve indicated previously, we plan to follow our Austrian rollout
with an expansion to France, Germany, Italy, Spain, and Switzerland on a
country-by-country basis throughout the second half of 2018, with France
expected to launch next in June.

“Our progress growing live video monetization continues to be strong. We
look forward to bringing the benefits of our compelling product roadmap
to our entire user base.”

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep millions of
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

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 Lovoo will provide a meaningful opportunity for
us to continue to grow video revenue, future levels of user engagement
with the Live product, whether we will expand our Live rollout to
France, Germany, Italy, Spain, and Switzerland on a country-by-country
basis throughout the second half of 2018 as expected, whether we launch
Live in France in June as expected, and whether we will bring the
benefits of our compelling product roadmap to our entire user base as
expected. 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, 2017 filed with the SEC on March 16, 2018. 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.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group to Present at the Disruptive Growth and Healthcare Conference on May 9th, 2018

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced that the Company will present and
meet with investors at the 2018 Disruptive Growth & Healthcare
Conference on May 9th in New York City. Geoff Cook, CEO, will
present at 1:15pm ET, with a breakout session following at 1:40pm ET.
Jim Bugden, CFO, will participate in the Disrupting Social, Streaming &
VR Panel from 3:00pm – 4:00pm ET.

A live and archived audio webcast of the Company’s presentation will be
available on the Investor Relations section of The Meet Group’s website
at http://ir.themeetgroup.com.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep millions of
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Reports First Quarter 2018 Financial Results

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today reported financial results for its first
quarter ended March 31, 2018.

First Quarter 2018 Financial Highlights

  • Total revenue of $37.6 million, up 88% year over year
  • Mobile revenue of $30.7 million, up 63% year over year
  • GAAP net loss of $4.2 million, or a net loss of $0.06 per share,
    compared to GAAP net income of $0.4 million, or $0.01 per diluted
    share, in the prior year quarter
  • Adjusted EBITDA of $5.2 million, up 9% year over year
  • Non-GAAP net income of $4.1 million, or $0.05 per diluted share,
    compared to $4.3 million or $0.07 per diluted share in the prior year
    quarter

(See the important discussion about the presentation of non-GAAP
financial measures, and reconciliation to the most direct comparable
GAAP financial measure, below.)

“We are off to a strong start to the year, with growth from live video
monetization accelerating at an even faster pace than we had
anticipated,” said Geoff Cook, Chief Executive Officer of The Meet
Group. “Video revenue grew approximately 120% from December 2017 to
March 2018, which we attribute to momentum on our MeetMe app, the launch
of livestreaming monetization on Skout, and our focus on strengthening
our livestreaming community and the quality of our livestreams. Our
annualized video revenue run rate now exceeds $29 million based on
April’s results, up 53% from February’s run rate.

“Key video metrics are improving, and we are setting new highs on a
regular basis,” continued Cook. “We have been particularly pleased to
see average revenue per paying video user grow to $76 for the month of
March on MeetMe Live. Average revenue per daily active user for MeetMe
Live, or vARPDAU, in the United States increased to 44 cents in March
and is now nearing levels achieved by leading livestreaming companies in
Asia. Total vARPDAU, which includes Skout and MeetMe, was 18 cents in
March. Importantly, the percentage of MeetMe users engaged in video
exceeded 25% for the first time in April.

“We are continuing to video-enable more of our large, global community
and build our social entertainment platform. Having recently rolled-out
our shared livestreaming platform on Tagged, we are pleased to announce
that we have launched enhanced video monetization on that app, ahead of
schedule. We expect to begin launching live video on Lovoo later this
month, starting with Austria. We expect our rollout of live video to
more of our users, combined with our deep product pipeline, to
contribute to continued growth in video revenue.”

First Quarter 2018 Financial Results

For the first quarter of 2018, The Meet Group reported revenue of $37.6
million, an increase of 88% from $20.1 million in the prior year
quarter. GAAP net loss was $4.2 million, or a net loss of $0.06 per
share, compared to net income of $0.4 million, or $0.01 per diluted
share in the prior year quarter. Adjusted EBITDA in the first quarter of
2018 was $5.2 million compared to $4.8 million in the prior year quarter.

The Company ended the quarter with $28.0 million in cash and cash
equivalents. Cash flow from operating activities was $7.4 million.

Company Outlook

The Company is providing the following outlook for the second quarter of
2018 and is increasing its outlook for the full year 2018.

Second quarter 2018:

  • Revenue in the range of $38.0 million to $39.0 million
  • Adjusted EBITDA in the range of $5.3 million to $5.6 million

Full year 2018:

  • Revenue in the range of $152.0 million to $155.0 million
  • Adjusted EBITDA in the range of $21.5 million to $23.5 million
 
THE MEET GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
   

March 31,
2018

December 31,
2017

ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 27,969,456 $ 24,158,444
Accounts receivable, net of allowance of $519,306 and $527,958 at
March 31, 2018 and December 31, 2017, respectively
20,365,174 26,443,675
Prepaid expenses and other current assets 3,417,675   3,245,174  
Total current assets 51,752,305 53,847,293
Restricted cash 500,000 894,551
Goodwill 152,185,979 150,694,135
Property and equipment, net 4,149,034 4,524,118
Intangible assets, net 46,094,182 48,719,428
Deferred taxes 16,007,054 15,521,214
Other assets 1,863,590   1,144,032  
Total assets $ 272,552,144   $ 275,344,771  
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 4,666,271 $ 6,277,846
Accrued liabilities 21,868,691 19,866,438
Current portion of long-term debt 15,000,000 15,000,000
Current portion of capital lease obligations 227,678 254,399
Deferred revenue 5,225,506   4,433,450  
Total current liabilities 46,988,146 45,832,133
Long-term capital lease obligations, less current portion, net 157,365 192,137
Long-term debt 36,973,633 40,637,106
Long-term derivative liability 4,512,878 2,995,657
Other liabilities 114,051   147,178  
Total liabilities 88,746,073   89,804,211  
STOCKHOLDERS’ EQUITY:
Preferred stock, $.001 par value; authorized – 5,000,000 shares; 0
shares issued and outstanding at March 31, 2018 and December 31, 2017
Common stock, $.001 par value; authorized – 100,000,000 shares;
72,106,997 and 71,915,018 shares issued and outstanding at March 31,
2018 and December 31, 2017, respectively
72,104 71,918
Additional paid-in capital 410,105,207 408,029,068
Accumulated deficit (225,632,074 ) (221,435,888 )
Accumulated other comprehensive loss (739,166 ) (1,124,538 )
Total stockholders’ equity 183,806,071   185,540,560  
Total liabilities and stockholders’ equity $ 272,552,144   $ 275,344,771  
 
 
THE MEET GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
 

Three Months Ended
March 31,

2018   2017
Revenues $ 37,637,793   $ 20,058,797  
Operating costs and expenses:
Sales and marketing 7,047,993 5,105,508
Product development and content 22,101,537 8,457,494
General and administrative 5,469,178 2,862,427
Depreciation and amortization 3,629,603 1,684,839
Acquisition and restructuring 3,349,951   1,500,429  
Total operating costs and expenses 41,598,262   19,610,697  
(Loss) income from operations (3,960,469 ) 448,100  
Other income (expense):
Interest income 7,208 2,570
Interest expense (607,686 ) (2,332 )
Gain (loss) on foreign currency transactions 103,043 (2,200 )
Other (6,944 )  
Total other expense (504,379 ) (1,962 )
(Loss) income before income tax benefit (expense) (4,464,848 ) 446,138
Income tax benefit (expense) 252,187   (292 )
Net (loss) income $ (4,212,661 ) $ 445,846  
 
Basic and diluted net (loss) income per common stockholder:
Basic net (loss) income per common stockholder $ (0.06 ) $ 0.01  
Diluted net (loss) income per common stockholder $ (0.06 ) $ 0.01  
 
Weighted average shares outstanding:
Basic 71,981,487   61,093,810  
Diluted 71,981,487   66,204,620  
 
 
THE MEET GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
 

Three Months Ended
March 31,

2018   2017
Cash flows from operating activities:
Net (loss) income $ (4,212,661 ) $ 445,846
Adjustments to reconcile net (loss) income to net cash provided by
operating activities:
Depreciation and amortization 3,629,603 1,684,839
Stock based compensation expense 2,168,925 1,134,158
Deferred taxes (539,231 ) (17,465 )
(Gain) loss on foreign currency transactions (103,043 ) 2,200
Bad debt expense (recovery) 213,598 (27,000 )
Amortization of loan origination costs 86,527
Changes in operating assets and liabilities:
Accounts receivable 5,988,039 7,942,814
Prepaid expenses, other current assets and other assets (793,908 ) 97,899
Accounts payable and accrued liabilities 273,716 (2,577,771 )
Deferred revenue 723,907   2,359  
Net cash provided by operating activities 7,435,472   8,687,879  
Cash flows from investing activities:
Purchase of property and equipment (172,642 ) (150,510 )
Net cash used in investing activities (172,642 ) (150,510 )
Cash flows from financing activities:
Proceeds from exercise of stock options 764,547
Proceeds from issuance of common stock 43,000,424
Proceeds from exercise of warrants 443,750
Payments of capital leases (73,317 ) (69,817 )
Payments for restricted stock awards withheld for taxes (92,600 )
Payments on long-term debt (3,750,000 )  
Net cash (used in) provided by financing activities (3,915,917 ) 44,138,904  
Change in cash, cash equivalents, and restricted cash prior to
effects of foreign currency exchange rate
3,346,913 52,676,273
Effect of foreign currency exchange rate (translation) 69,548   (2,200 )
Net increase in cash, cash equivalents, and restricted cash 3,416,461   52,674,073  
Cash, cash equivalents, and restricted cash at beginning of period 25,052,995   22,246,015  
Cash, cash equivalents, and restricted cash at end of period $ 28,469,456   $ 74,920,088  
Supplemental disclosure of cash flow information:
Cash paid for interest $ 516,940   $ 2,332  
 
 
THE MEET GROUP, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA
(UNAUDITED)
 

Three Months Ended
March 31,

2018   2017
Net (loss) income $ (4,212,661 ) $ 445,846
 
Interest expense 607,686 2,332
Income tax (benefit) expense (252,187 ) 292
Depreciation and amortization 3,629,603 1,684,839
Stock-based compensation expense 2,168,925 1,134,158
Acquisition and restructuring 3,349,951 1,500,429
(Gain) loss on foreign currency transactions (103,043 ) 2,200
Adjusted EBITDA $ 5,188,274   $ 4,770,096
 
GAAP basic net (loss) income per common stockholder $ (0.06 ) $ 0.01
GAAP diluted net (loss) income per common stockholder $ (0.06 ) $ 0.01
Basic adjusted EBITDA per common stockholder $ 0.07   $ 0.08
Diluted adjusted EBITDA per common stockholder $ 0.07   $ 0.07
 
Weighted average shares outstanding:
Basic 71,981,487   61,093,810
Diluted 75,849,484   66,204,620
 
 
THE MEET GROUP, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME
(UNAUDITED)
 

Three Months Ended
March 31,

2018   2017
GAAP Net (loss) income $ (4,212,661 ) $ 445,846
 
Stock-based compensation expense 2,168,925 1,134,158
Amortization of intangibles 3,056,609 1,226,155
Income tax (benefit) expense (252,187 ) 292
Acquisition and restructuring 3,349,951   1,500,429
Non-GAAP net income $ 4,110,637   $ 4,306,880
 
GAAP basic net (loss) income per common stockholder $ (0.06 ) $ 0.01
GAAP diluted net (loss) income per common stockholder $ (0.06 ) $ 0.01
Basic Non-GAAP net income per common stockholder $ 0.06   $ 0.07
Diluted Non-GAAP net income per common stockholder $ 0.05   $ 0.07
 
Weighted average shares outstanding:
Basic 71,981,487   61,093,810
Diluted 75,849,484   66,204,620
 

Webcast and Conference Call Details

Management will host a webcast and conference call to discuss first
quarter 2018 financial results today, May 2, 2018 at 4:30 p.m. Eastern
time. To access the call dial 866-572-9351 (US and Canada) or
703-736-7482 (International) and when prompted provide the participant
passcode 5377109 to the operator. An audio replay will be available at
855-859-2056 domestically or 404-537-3406 internationally, using
passcode 5377109 through May 9, 2018. In addition, a webcast of the
conference call will be available live on the Investor Relations section
of the Company’s website at www.themeetgroup.com
and a replay of the webcast will be available for 90 days.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep millions of
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

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 second quarter 2018 revenue and Adjusted EBITDA
will be in the projected range, whether video growth will continue as
expected, whether average revenue per paying video user and average
revenue per daily active user will continue to grow as expected, whether
user engagement in video will continue to increase, whether and when we
will launch live video on our Lovoo app and whether the rollout of video
to more of our users combined with our deep product pipeline will
contribute to continued growth in video revenue. 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, 2017 filed with the SEC on March 16,
2018. 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 Measures

The Company defines mobile traffic and engagement metrics (including
MAU, DAU, chats per day, and new users per day) to include mobile app
traffic for all properties and mobile web traffic for MeetMe, Skout and
Lovoo.

The Company uses Adjusted EBITDA and Non-GAAP Net Income, 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. We refer you to the reconciliations below.

The Company defines Adjusted EBITDA as earnings (or loss) from
operations before interest expense, benefit or provision for income
taxes, depreciation and amortization, stock-based compensation, warrant
obligations, non-recurring acquisition, restructuring or other expenses,
gain or loss on cumulative foreign currency translation adjustment, gain
on sale of asset, bad debt expense outside the normal range, and
goodwill and long-lived asset impairment charges. The Company excludes
stock-based compensation because it is non-cash in nature. The Company
defines Non-GAAP Net Income as earnings (or loss) before benefit or
provision for income taxes, amortization of intangibles, goodwill and
long-lived asset impairment charges, non-recurring acquisition and
restructuring costs, bad debt expense outside the normal range and
non-cash stock based compensation.

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.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Announces Date of Earnings Release and Conference Call for First Quarter 2018 Financial Results

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced that its first quarter 2018
financial results will be issued in a press release on Wednesday, May 2,
2018, after the close of the market. The company will host a conference
call at 4:30 p.m. ET to discuss the financial results with the
investment community.

 

What:

The Meet Group first quarter 2018 earnings conference call
 

When:

Wednesday, May 2, 2018, at 4:30 p.m. Eastern Time
 

Dial-In:

866-572-9351 (US and Canada)

 

703-736-7482 (International)

 

Passcode:5377109

 

Webcast:

To access the live and replay webcast, please visit the investor
relations section of The Meet Group’s website at http://www.themeetgroup.com.

 

Call Replay:

An audio replay will be available at 855-859-2056 domestically or
404-537-3406 internationally, using passcode 5377109 through May 9,
2018.
 

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep millions of
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Provides Update on Livestreaming Video Progress

  • Announces rollout of Tagged livestreaming on The Meet Group’s
    shared platform
  • Reports strong gains in key video metrics

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today provided an update on its livestreaming
video rollout and key video operating results.

“We see momentum in video building,” said Geoff Cook, Chief Executive
Officer of The Meet Group. “We have begun the rollout of Tagged
livestreaming on our shared video platform, and we expect to launch
enhanced video monetization on Tagged next month. Additionally, we are
ahead of schedule with our plans to bring live video to Lovoo, and we
now expect to begin rolling out the feature in a phased approach
starting in May.

“What’s more, we have been setting new all-time highs related to video
engagement and monetization across The Meet Group’s portfolio:

  • The number of monetizing users continues to increase on MeetMe and
    Skout. In particular, the number of paid gifters increased 36% in
    March over February. Gifters buy virtual gifts for livestreamers.
  • Video users as a share of mobile daily active users (or vDAU%) on
    MeetMe exceeded 25% for the first time ever last week.
  • Total broadcast time across our shared video platform exceeded 4
    million minutes for the first time this week, and total streaming time
    exceeded 10 million minutes — combining for over 26 years of live
    video engagement in a single day.

“We expect Lovoo and Tagged to drive continued growth of video
engagement and monetization. Additionally, we have a deep pipeline of
product features and enhancements that we believe will continue to drive
video DAU and video ARPDAU, while also creating richer, more meaningful
connections within our community,” continued Cook. “We recently began
rolling out gender filters on MeetMe so that users can connect via live
video, and we merged our Skout and MeetMe audiences, giving users of
both platforms access to a greater number of potential connections.
Skout Live is performing well and is already contributing meaningfully
to total video revenue.”

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep 4.3 million
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

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 we will continue to see momentum in video
building, whether we will launch enhanced video monetization on Tagged
next month, whether we will begin rolling out Lovoo video as anticipated
in May, whether we will continue setting new highs related to video
engagement on MeetMe and Skout, whether the number of monetizable users
will continue to increase on MeetMe and Skout, whether the number of
gifters will continue to increase on MeetMe and Skout, whether the share
of video DAU will continue to grow, whether total broadcast and viewing
minutes will continue to grow, whether we will begin to monetize Lovoo
and Tagged users in May, whether Lovoo and Tagged will continue to drive
growth of video engagement and monetization, whether our product
pipeline will continue to drive video DAU and video ARPDAU while
creating richer, more meaningful connections within our community, and
whether Skout Live will continue performing well and contribute
meaningfully to total video revenue. 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, 2017 filed with the SEC on March 16,
2018. 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.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:

Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group to Speak at Princeton University, HackPrinceton, and the Women in Technology Summit

NEW HOPE, Pa.–(BUSINESS WIRE)–
The
Meet Group
, Inc. (NASDAQ:MEET), a public market leader in the mobile
meeting space, is excited to announce that Geoff Cook has been invited
to speak at Princeton
University
’s Keller Center for Innovation in Engineering Education
and to keynote HackPrinceton,
a weekend-long hack-a-thon event.

Cook will talk about his journey through entrepreneurship to becoming a
public tech company CEO on April 18, 2018, at 4:30 pm. Cook’s
presentation titled Growing a Startup and Going Public from New Hope
PA
is part of the Keller
Center’s
Creative Minds and Leadership lecture series and is free
and open to the public
.

“I founded my first company from my Harvard dorm room and co-founded
MeetMe not long after my exit from that company,” said Geoff Cook, CEO
of The Meet Group. “I look forward to sharing my insights for how I
built two multi-million dollar businesses with the Princeton community
and the future generation of entrepreneurs.”

Cook will also participate in the University event, HackPrinceton, which
welcomes 600 developers and designers from across the country to create
incredible software and hardware projects. Cook will keynote the
festivities and join as a judge to help determine the winners of the
36-hour competition from March 30, 2018, to April 1, 2018.

On March 23, 2018, Co-founder and VP of Brand Strategy, Catherine Cook
Connelly, is scheduled to keynote the D.C. Women
in Technology Summit
(WITS) at The Washington Post.

The Women in Tech Summit inspires, educates and connects women in the
technology industry. Catherine will speak on the topic Growing up
StartUP – What being a teen startup founder taught me about myself and
business
.

All profits generated from each WITS event support the non-profit TechGirlz.org and
its ongoing mission to inspire middle school girls to explore the
possibilities of technology to empower their future careers.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep 4.3 million
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

The Meet Group, Inc.
MEDIA CONTACT:
Brandyn Bissinger,
267-446-7010
bbissinger@themeetgroup.com
or
INVESTOR
CONTACT:
Leslie Arena, 267-714-6418
larena@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group to Present at the 30th Annual ROTH Conference

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced that its management will present
at the 30th Annual ROTH Conference on Monday, March 12, 2018
at 9:30 am PT (12:30PM ET). The conference is being held at the Ritz
Carlton in Dana Point, California. The Company will also be hosting
one-on-one meetings with institutional investors throughout the day.

A live and archived audio webcast of the company’s presentation will be
available on the Investor Relations section of The Meet Group’s website
at http://ir.themeetgroup.com.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful live-streaming video platform,
empowering our global community to forge meaningful connections. Our
primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep 4.3 million
mobile daily active users entertained and engaged and originate untold
numbers of casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages, use
innovative products and sophisticated data science to let our users
stream live video, send gifts, chat, and share photos. The Meet Group
has a diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Reports Fourth Quarter and Full Year 2017 Financial Results

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today reported financial results for its fourth
quarter and full year ended December 31, 2017.

Fourth Quarter 2017 Financial Highlights

  • Total revenue of $40.1 million, up 37% year over year
  • Mobile revenue of $32.0 million, up 15% year over year
  • GAAP net loss of $67.7 million, or $0.94 per diluted share primarily
    as a result of a non-cash asset impairment charge and deferred tax
    charge of $56.4 million and $7.7 million, respectively, compared to
    GAAP net income of $9.9 million, or $0.15 per diluted share in the
    prior year quarter
  • Adjusted EBITDA of $10.5 million, compared to $12.8 million in the
    prior year quarter
  • Non-GAAP net income of $9.5 million, or $0.12 per diluted share,
    compared to $12.4 million or $0.19 per diluted share in the prior year
    quarter

Full Year 2017 Financial Highlights

  • Total revenue of $123.8 million, up 63% year over year
  • Mobile revenue of $97.8 million, up 38% year over year
  • GAAP net loss of $64.2 million, or $0.93 per diluted share primarily
    as a result of a non-cash asset impairment charge and deferred tax
    charge of $56.4 million and $7.7 million, respectively, compared to
    GAAP net income of $46.3 million, or $0.80 per diluted share in the
    prior year
  • Adjusted EBITDA of $31.6 million, up 8% year over year, or a 26% margin
  • Non-GAAP net income of $28.5 million, or $0.39 per diluted share,
    compared to $26.9 million or $0.47 per diluted share in the prior year

(See the important discussion about the presentation of non-GAAP
financial measures, and reconciliation to the most direct comparable
GAAP financial measure, below.)

“Video has arrived at The Meet Group,” said Geoff Cook, Chief Executive
Officer. “While we only just began to monetize livestreaming video in
the fourth quarter of 2017, it’s already a $19 million annualized run
rate business based on the month of February’s results, up 70% versus
the fourth quarter average.

“We believe that’s remarkable progress, particularly given that we’ve
deployed video on only two of our four major apps, representing just 40%
of our total daily active users (DAU). We expect video revenue to
continue to grow quickly in 2018 and beyond, as we seek to rapidly
expand our daily video audience and improve our per-video-user
monetization rates. We are in the process of video-enabling our large,
global social community, and we believe that outside of Asia we are the
only social dating company of size with a full-scale commitment to live
video.

“It is important to note,” Cook said, “that we expect the first quarter
of 2018 will be the first quarter in our history in which we generate
the majority of our revenue from user-pay, rather than advertising.
Fueled by the early success of video on MeetMe and Skout and our
acquisitions of Lovoo and Tagged, our share of user-pay revenue grew
from 6% in the fourth quarter of 2016 to 39% in the fourth quarter of
2017. We expect it will approach 60% in the first quarter of 2018. As we
continue to transition toward a user-pay revenue model, we continue to
manage costs closely to support our short-term and long-term financial
strength. Earlier this week we reduced our cost structure by an
additional $7 million on an annualized basis, primarily through
headcount and operating expense reductions in our San Francisco office.

“I am also pleased to announce the appointment of Jim Bugden as our
Chief Financial Officer. We believe Jim is the ideal financial partner
to help us navigate the transformation of our business model from
advertising to user-pay. He was the long-time CFO of myYearbook (the
predecessor of The Meet Group), and played a key role in diversifying
our revenue model through acquisitions of new lines of business as the
SVP of Corporate Development. Additionally, our Board of Directors
appointed Spencer Grimes as a member. Spencer brings considerable
experience in finance and media, currently as Managing Partner of
Twinleaf Management LLC, a Connecticut-based registered investment
adviser focused on small cap equities in media and technology. Mr.
Grimes is also an adjunct professor of digital media at The New School
in New York City. I look forward to working closely with Jim and
Spencer.”

Fourth Quarter and Full Year Financial Results

For the fourth quarter of 2017, the Company reported revenue of $40.1
million, an increase from $29.2 million year over year. GAAP net loss
was $67.7 million, or $0.94 per diluted share, compared to GAAP net
income of $9.9 million, or $0.15 per diluted share year over year. GAAP
net loss includes both a non-cash asset impairment charge and a deferred
tax charge, both of which contributed to the year over year change. In
our annual impairment testing of goodwill and intangible assets, we
determined that a write-down of goodwill of $56.4 million was required
for our U.S. reporting entity. We believe this was due predominantly to
the market-driven impacts on advertising revenue resulting from lower
CPMs that negatively affected our results and outlook. We do not expect
that this non-cash impairment charge will impact our ability to generate
cash flow in the future. In addition, at the end of fourth quarter, with
the passage of the new corporate tax law, we took a $7.7 million
one-time, non-cash charge to adjust the value of our deferred tax asset.
Adjusted EBITDA in the fourth quarter of 2017 was $10.5 million compared
to $12.8 million year over year.

For the full year 2017, the Company reported revenue of $123.8 million,
an increase from $76.1 million in 2016. GAAP net loss for the year was
$64.2 million, or $0.93 per diluted share, compared to GAAP net income
of $46.3 million, or $0.80 per diluted share, in the prior year. The
Company reported a non-cash asset impairment charge for our U.S.
reporting entity and a deferred tax charge of $56.4 million and $7.7
million, respectively, related to the reasons noted above. Adjusted
EBITDA for the full year 2017 was $31.6 million, compared to $29.3
million in 2016. Non-GAAP net income was $28.5 million, or $0.39 per
diluted share, compared to $26.9 million or $0.47 per diluted share in
the prior year.

The Company ended the year with approximately $24 million in cash and
cash equivalents.

         

THE MEET GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

 
December 31,
2017
December 31,
2016
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 24,158,444 $ 21,852,531

Accounts receivable, net of allowance of $527,958 and $283,000 at
December
31, 2017 and 2016, respectively

26,443,675 23,737,254
Prepaid expenses and other current assets 3,245,174   1,489,267  
Total current assets 53,847,293 47,079,052
Restricted cash 894,551 393,484
Goodwill 150,694,135 114,175,554
Property and equipment, net 4,524,118 2,466,110
Intangible assets, net 48,719,428 17,010,565
Deferred taxes 15,521,214 28,253,827
Other assets 1,144,032   110,892  
Total assets $ 275,344,771   $ 209,489,484  
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 6,277,846 $ 5,350,336
Accrued liabilities 19,419,595 8,395,060
Current portion of long-term debt 15,000,000
Current portion of capital lease obligations 254,399 221,302
Deferred revenue 4,433,450   434,197  
Total current liabilities 45,385,290 14,400,895
Long-term capital lease obligations, less current portion, net 192,137
Long-term debt 40,706,597
Long-term derivative liability 2,995,657
Other liabilities 147,178    
Total liabilities 89,426,859   14,400,895  
STOCKHOLDERS’ EQUITY:

Preferred stock, $.001 par value; authorized – 5,000,000 shares; 0
shares issued
and outstanding at December 31, 2017 and 2016

Common stock, $.001 par value; authorized – 100,000,000 shares;
71,915,018
and 58,945,607 shares issued and outstanding at
December 31, 2017 and 2016, respectively

71,918 58,949
Additional paid-in capital 408,029,068 351,873,801
Accumulated deficit (221,058,536 ) (156,844,161 )
Accumulated other comprehensive loss (1,124,538 )  
Total stockholders’ equity 185,917,912   195,088,589  
Total liabilities and stockholders’ equity $ 275,344,771   $ 209,489,484  
 
                 

THE MEET GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

 

Three Months Ended
December 31,

Year Ended December 31,
2017 2016 2017 2016
Revenues $ 40,119,076   $ 29,222,186   $ 123,753,813   $ 76,124,109  
Operating costs and expenses:
Sales and marketing 6,050,466 6,313,958 20,355,964 15,089,987
Product development and content 19,698,097 8,059,563 60,704,473 25,790,173
General and administrative 6,504,840 3,063,319 19,549,805 9,494,804
Depreciation and amortization 3,954,243 1,802,568 11,573,827 4,069,211
Acquisition and restructuring 3,125,448 829,169 11,774,140 2,457,295
Goodwill impairment 56,428,861     56,428,861    
Total operating costs and expenses 95,761,955   20,068,577   180,387,070   56,901,470  
(Loss) income from operations (55,642,879 ) 9,153,609   (56,633,257 ) 19,222,639  
Other income (expense):
Interest income 387 2,488 5,731 21,185
Interest expense (438,445 ) (3,160 ) (860,392 ) (19,388 )
Change in warrant liability (864,596 )
(Loss) gain on foreign currency adjustment (30,416 ) 69 (32,488 ) 33,416
Other 9,631     9,631    
Total other expense (458,843 ) (603 ) (877,518 ) (829,383 )
(Loss) income before income tax (expense) benefit (56,101,722 ) 9,153,006 (57,510,775 ) 18,393,256
Income tax (expense) benefit (11,637,816 ) 749,916   (6,703,600 ) 27,875,362  
Net (loss) income $ (67,739,538 ) $ 9,902,922   $ (64,214,375 ) $ 46,268,618  
 
Basic and diluted net (loss) income per common stockholders:
Basic net (loss) income per common stockholders $ (0.94 ) $ 0.17   $ (0.93 ) $ 0.89  
Diluted net (loss) income per common stockholders $ (0.94 ) $ 0.15   $ (0.93 ) $ 0.80  
 
Weighted average shares outstanding:
Basic 71,808,179   58,856,831   68,743,956   51,963,702  
Diluted 71,808,179   64,121,470   68,743,956   57,745,652  
 
           

THE MEET GROUP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP NET (LOSS) INCOME TO ADJUSTED EBITDA

(UNAUDITED)

 

Three Months Ended
December 31,

Year Ended December 31,
2017 2016 2017 2016
Net (loss) income $ (67,739,538 ) $ 9,902,922 $ (64,214,375 ) $ 46,268,618
 
Interest expense 438,445 3,160 860,392 19,388
Change in warrant liability 864,596
Income tax expense (benefit) 11,637,816 (749,916 ) 6,703,600 (27,875,362 )
Depreciation and amortization 3,954,243 1,802,568 11,573,827 4,069,211
Stock-based compensation expense 2,665,232 1,013,145 8,467,278 3,567,987
Goodwill impairment 56,428,861 56,428,861
Acquisition and restructuring 3,125,448 829,169 11,774,140 2,457,295
Loss (gain) on foreign currency adjustment 30,416   (69 ) 32,488   (33,416 )
Adjusted EBITDA $ 10,540,923   $ 12,800,979   $ 31,626,211   $ 29,338,317  
 
GAAP basic net (loss) income per common stockholder $ (0.94 ) $ 0.17   $ (0.93 ) $ 0.89  
GAAP diluted net (loss) income per common stockholder $ (0.94 ) $ 0.15   $ (0.93 ) $ 0.80  
Basic adjusted EBITDA per common stockholder $ 0.15   $ 0.22   $ 0.46   $ 0.56  
Diluted adjusted EBITDA per common stockholder $ 0.14   $ 0.20   $ 0.43   $ 0.51  
 
Weighted average shares outstanding:
Basic 71,808,179   58,856,831   68,743,956   51,963,702  
Diluted 75,965,208   64,121,470   73,198,544   57,745,652  
 
                 

THE MEET GROUP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP NET (LOSS) INCOME TO NON-GAAP NET INCOME

(UNAUDITED)

 

Three Months Ended
December 31,

Year Ended December 31,
2017 2016 2017 2016
GAAP Net (loss) income $ (67,739,538 ) $ 9,902,922 $ (64,214,375 ) $ 46,268,618
 
Stock-based compensation expense 2,665,232 1,013,145 8,467,278 3,567,987
Amortization of intangibles 3,370,712 1,364,850 9,353,171 2,507,433
Income tax expense (benefit) 11,637,816 (749,916 ) 6,703,600 (27,875,362 )
Goodwill impairment 56,428,861 56,428,861
Acquisition and restructuring 3,125,448   829,169   11,774,140   2,457,295  
Non-GAAP net income $ 9,488,531   $ 12,360,170   $ 28,512,675   $ 26,925,971  
 
GAAP basic net (loss) income per common stockholder $ (0.94 ) $ 0.17   $ (0.93 ) $ 0.89  
GAAP diluted net (loss) income per common stockholder $ (0.94 ) $ 0.15   $ (0.93 ) $ 0.80  
Basic Non-GAAP net income per common stockholder $ 0.13   $ 0.21   $ 0.41   $ 0.52  
Diluted Non-GAAP net income per common stockholder $ 0.12   $ 0.19   $ 0.39   $ 0.47  
 
Weighted average shares outstanding:
Basic 71,808,179   58,856,831   68,743,956   51,963,702  
Diluted 75,965,208   64,121,470   73,198,544   57,745,652  
 

Webcast and Conference Call Details

Management will host a webcast and conference call to discuss fourth
quarter and full year 2017 financial results today, March 7, 2018 at
4:30 p.m. Eastern time. To access the call dial 866-572-9351 (US and
Canada) or 703-736-7482 (International) and when prompted provide the
participant passcode 7858249 to the operator. In addition, a webcast of
the conference call will be available live on the Investor Relations
section of the Company’s website at www.themeetgroup.com
and a replay of the webcast will be available for 90 days.

About The Meet Group

The Meet Group (NASDAQ: MEET) is a fast-growing portfolio of mobile apps
designed to meet the universal need for human connection. Our apps –
currently MeetMe®, LOVOO®, Skout®, Tagged®, and Hi5® – let users in more
than 100 countries chat, share photos, stream live video, and discuss
topics of interest, and are available on iPhone, iPad, and Android in
multiple languages. Using innovative products and sophisticated data
science, The Meet Group keeps its 4.3 million mobile daily active users
engaged and originates untold numbers of casual chats, friendships,
dates, and marriages. The Meet Group offers advertisers the opportunity
to reach customers on a global scale and has leading mobile monetization
strategies, including advertising, in-app purchases, and subscription
products. The Meet Group has offices in New Hope, San Francisco,
Dresden, and Berlin. For more information, visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

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 total revenue and mobile revenue will
continue to grow, whether our Adjusted EBITDA will continue to grow,
whether video revenue will continue to grow as expected in 2018 and
beyond, whether we will expand our daily video audience and improve
per-video-user monetization rates as expected, whether the first quarter
of 2018 will be the first in our history in which we generate the
majority of our revenue from user-pay, whether user-pay revenue will
represent 60% of total revenue in the first quarter of 2018, and whether
the non-cash impairment charge will impact our ability to generate cash
flow in the future. 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, 2016 filed with the SEC on March 9, 2017, our Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2017, June 30,
2017 and September 30, 2017 filed with the SEC on May 10, 2017, August
4, 2017 and November 9, 2017, respectively. 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 Measures

The Company defines mobile traffic and engagement metrics (including
MAU, DAU, chats per day, and new users per day) to include mobile app
traffic for all properties and mobile web traffic for MeetMe and Skout.

The Company uses Adjusted EBITDA and Non-GAAP Net Income, 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. We refer you to the reconciliations below.

The Company defines Adjusted EBITDA as earnings (or loss) from
operations before interest expense, benefit or provision for income
taxes, depreciation and amortization, stock-based compensation, warrant
obligations, non-recurring acquisition, restructuring or other expenses,
gain or loss on cumulative foreign currency translation adjustment, gain
on sale of asset, bad debt expense outside the normal range, and
goodwill and long-lived asset impairment charges. The Company excludes
stock-based compensation because it is non-cash in nature. The Company
defines Non-GAAP Net Income as earnings (or loss) before benefit or
provision for income taxes, amortization of intangibles, non-recurring
acquisition and restructuring costs, bad debt expense outside the normal
range, and non-cash stock based compensation.

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.

The Meet Group, Inc.
Investors:
Leslie Arena, 267-714-6418
larena@themeetgroup.com
or
Media:
Brandyn
Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Announces Date of Earnings Release and Conference Call for Fourth Quarter and Full Year 2017 Financial Results

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, today announced that its fourth quarter and full
year 2017 financial results will be issued in a press release on
Wednesday, March 7, 2018, after the close of the market. The company
will host a conference call at 4:30 p.m. ET to discuss the financial
results with the investment community.

     

What:

The Meet Group fourth quarter and full year 2017 earnings conference
call
 

When:

Wednesday, March 7, 2018, at 4:30 p.m. Eastern Time (1:30 p.m. PT)
 

Dial-In:

866-572-9351 (US and Canada)
703-736-7482 (International)
Passcode: 7858249
 

Webcast:

To access the live and replay webcast, please visit the investor
relations section of The Meet Group’s website at http://www.themeetgroup.com.

 

Call Replay:

An audio replay will be available at 855-859-2056 domestically or
404-537-3406 internationally, using passcode 7858249 through March
14, 2018.
 

About The Meet Group

The Meet Group (NASDAQ: MEET) is a fast-growing portfolio of mobile apps
designed to meet the universal need for human connection. Our apps –
currently MeetMe®, LOVOO®, Skout®, Tagged®, and Hi5® – let users in more
than 100 countries chat, share photos, stream live video, and discuss
topics of interest, and are available on iPhone, iPad, and Android in
multiple languages. Using innovative products and sophisticated data
science, The Meet Group keeps its over 4.5 million mobile daily active
users engaged and originates untold numbers of casual chats,
friendships, dates, and marriages. The Meet Group offers advertisers the
opportunity to reach customers on a global scale and has leading mobile
monetization strategies, including advertising, in-app purchases, and
subscription products. The Meet Group has offices in New Hope, San
Francisco, Dresden, and Berlin. For more information, visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

The Meet Group, Inc.
Investor Contact:
Leslie Arena,
267-714-6418
larena@themeetgroup.com
or
Media
Contact:
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Announces that Catherine Cook Connelly will Present at SXSW and International iDate Conferences

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ:MEET) announces that Catherine Cook
Connelly, Co-founder and VP of Brand Strategy at The Meet Group, will
present at the 51st International iDate Conference on January 25, 2018
in Delray Beach, Florida, and South by SouthWest (SXSW) Conference and
Festivals on March 12, 2018 in Austin, Texas.

This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20180118005308/en/

The Meet Group Announces that Catherine Cook Connelly will Present at SXSW and International iDate C ...

The Meet Group Announces that Catherine Cook Connelly will Present at SXSW and International iDate Conferences (Photo: Business Wire)

For 15 years, C-level executives have gathered in January at “iDate,”
the industry’s largest annual trade show and expo. iDate focuses on
assembling global dating CEOs to identify new opportunities, develop
ideas, gain insight for higher levels of traffic and earn more revenue.
Catherine will speak on the main stage about Live Video and Its
Impact on The Dating Business
.

“I’m looking forward to talking about live streaming video and the
positive impact we’ve seen it have with our users,” said Catherine Cook
Connelly, VP of Brand Strategy at The Meet Group.

In March, Catherine is scheduled to join a panel discussion at SXSW on
the topic Empowering Girls with Tech: Breaking Barriers. The
global conference provides an opportunity for professionals at every
level to participate, learn, and network in a week-long conference and
festivals that celebrate the convergence of the interactive, film, and
music industries.

“Getting young girls involved in pursuing STEM and entrepreneurship is
important,” said Connelly. “I’m excited to be a part of this panel that
explores drivers to get girls interested in these fields, the barriers
they face both systemically and culturally, and strategies the panelists
have seen work in the past.”

Schedule Times:
iDate – Live
Video and Its Impact on The Dating Business

2:30 pm – 3:00 pm et

SXSW – Empowering
Girls with Tech: Breaking Barriers

11:00 am – 12:00 pm ct

About The Meet Group

The Meet Group (NASDAQ:MEET) is a fast-growing portfolio of mobile apps
designed to meet the universal need for human connection. Our apps –
currently MeetMe®, LOVOO®, Skout®, Tagged®, and Hi5® – let users in more
than 100 countries chat, share photos, stream live video, and discuss
topics of interest, and are available on iPhone, iPad, and Android in
multiple languages. Using innovative products and sophisticated data
science, The Meet Group keeps its over 4.5 million mobile daily active
users engaged and originates untold numbers of casual chats,
friendships, dates, and marriages. The Meet Group offers advertisers the
opportunity to reach customers on a global scale and has leading mobile
monetization strategies, including advertising, in-app purchases, and
subscription products. The Meet Group has offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more information,
visit themeetgroup.com,
and follow us on Facebook,
Twitter
or LinkedIn.

The Meet Group, Inc.
MEDIA CONTACT:
Brandyn Bissinger,
267-446-7010
bbissinger@themeetgroup.com
or
INVESTOR
CONTACT:
Leslie Arena, 267-714-6418
larena@themeetgroup.com

Source: The Meet Group, Inc.

The Meet Group Announces Selected Preliminary Fourth Quarter and Full Year 2017 Financial Results

–Expects fourth quarter and full year 2017 revenue to be at or above
high end of prior outlook

NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ:MEET), a public market leader in the mobile
meeting space, today pre-released selected preliminary financial
information for its fourth quarter and full year 2017.

Preliminary Financial Results for the fourth quarter 2017. The Company
expects:

  • Revenue to be at or above the high end of its prior outlook of $36.5
    million to $38 million; and
  • Adjusted EBITDA to be near or above the high end of its prior outlook
    of $7.5 million to $9.5 million.

Preliminary Financial Results for the full year 2017. The Company
expects:

  • Revenue to be at or above the high end of its prior outlook of $120.1
    million to $121.6 million; and
  • Adjusted EBITDA to be near or above the high end of prior guidance of
    $28.6 million to $30.6 million.

“We are pleased to deliver strong preliminary results for the fourth
quarter,” said Geoff Cook, Chief Executive Officer of The Meet Group.
“Our recent close of the Lovoo acquisition and the continued rollout of
our video platform demonstrate our commitment to diversifying our
revenue mix and delivering on the promise of livestreaming video.

“While still a small component of total revenue, monetization of our
video product has been accelerating. In the past five weeks, average
revenue per daily active user for MeetMe Live users, or vARPDAU, in the
United States doubled to approximately 20 cents, up from approximately
10 cents just five weeks ago. We believe this has been largely driven by
the initial success of our new video gifting product on our MeetMe app.
In addition to driving monetization, we believe the gifting feature also
incentivizes streamers to produce higher-quality content and spend more
time engaging with their audience. In fact, we saw time spent in video
increase following the launch of monetization.

“Building on our early success in video, we recently expanded our mobile
product offerings in Skout with the launch of Skout Live. Skout Live
gives users the ability to broadcast and view livestreaming video,
invite other guest broadcasters into their live-streams, and earn
virtual gifts.”

Early results show increasing user engagement with the product:

* On average, 24% of Skout’s daily active users currently watch
live-streams
* 10% of all Skout live-streamers are already
receiving gifts

The Company has also commenced deployment of the cashout process on
Skout Live, where streamers can exchange a portion of the gift value
they receive for real money. The gifting and cash out features are
expected to be available on Tagged Live in the first quarter of 2018.

The Company has not yet closed and not yet finalized its financial
statement review process for the fourth quarter and full year 2017. As a
result, the information in this release is preliminary and based upon
information available to the Company as of the date of this release, and
thus remains subject to the completion of the normal year-end accounting
procedures and adjustments. During the course of the Company’s review
process, items may be identified that would require the Company to make
adjustments, which could result in changes to our preliminary selected
financial information above. As a result, the preliminary selected
financial information above is forward-looking information and subject
to risks and uncertainties, including possible adjustments to such
information. The Company expects to report its fourth quarter and full
year 2017 results in March of 2018.

About The Meet Group

The Meet Group (NASDAQ:MEET) is a fast-growing portfolio of mobile apps
designed to meet the universal need for human connection. Our apps –
currently MeetMe®, LOVOO®, Skout®, Tagged®, and Hi5® – let users in more
than 100 countries chat, share photos, stream live video, and discuss
topics of interest, and are available on iPhone, iPad, and Android in
multiple languages. Using innovative products and sophisticated data
science, The Meet Group keeps its over 4.5 million mobile daily active
users engaged and originates untold numbers of casual chats,
friendships, dates, and marriages. The Meet Group offers advertisers the
opportunity to reach customers on a global scale and has leading mobile
monetization strategies, including advertising, in-app purchases, and
subscription products. The Meet Group has offices in New Hope, San
Francisco, Dresden, and Berlin. For more information, visit themeetgroup.com,
and follow us on FacebookTwitter or LinkedIn.

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 fourth quarter 2017 revenue and Adjusted EBITDA
will be in the projected range, whether full year 2017 revenue and
Adjusted EBITDA will be in the projected range, whether we will continue
the rollout of our video platform as anticipated, whether we will
continue to diversify our revenue mix and deliver on the promise of
livestreaming video, whether monetization of our video product will
continue to accelerate, whether average revenue per daily active user
for MeetMe Live will continue to increase, whether the gifting feature
will incentivize streamers to produce higher-quality content and spend
more time engaging with their audience, whether time spent in video will
continue to increase following the launch of monetization, whether the
early results show increasing user engagement on Skout Live will
continue and if so at what rates, whether we will complete deployment of
the cashout process on Skout Live as expected, and whether we will make
the gifting and cash out features available on Tagged Live in the first
quarter of 2018. 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, 2016 filed with the SEC on March 9, 2017, our Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2017, June 30,
2017 and September 30, 2017 filed with the SEC on May 10, 2017, August
4, 2017 and November 9, 2017, respectively. 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 Adjusted EBITDA, which is 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
defines Adjusted EBITDA as earnings (or loss) from operations before
interest expense, benefit or provision for income taxes, depreciation
and amortization, stock-based compensation, warrant obligations,
non-recurring acquisition, restructuring or other expenses, gain or loss
on cumulative foreign currency translation adjustment, gain on sale of
asset, bad debt expense outside the normal range, and goodwill and
long-lived asset impairment charges. The Company excludes stock-based
compensation because it is non-cash in nature. The Company has not
included a GAAP reconciliation of Adjusted EBITDA because such
reconciliation could not be produced without unreasonable effort.

The Company defines Video Daily Active User (vDAU) as a registered user
of one of our platforms who has logged in and visited the Live feature,
either as a broadcaster or viewer, on the day of measurement. The
Company defines Average Video Revenue per Daily Active User (vARPDAU) as
the average daily revenue per vDAU.

The Company uses these user metrics for financial and operational
decision-making and as a means to evaluate period-to-period comparisons.
The Company presents user metrics 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 its industry and because it believes that
these metrics provide useful information to investors regarding the
Company’s financial condition and results of operations. The Adjusted
EBITDA estimates provided herein are forward-looking and a
reconciliation cannot be without unreasonable effort therefore no
reconciliation is provided. There is no comparable GAAP measure to
vARPDAU provided in the Company’s financial statements and therefore no
reconciliation is provided.

The Meet Group
Investors:
Leslie Arena, 267-714-6418
larena@themeetgroup.com
or
Media:
Brandyn
Bissinger, 267-446-7010
bbissinger@themeetgroup.com

Source: The Meet Group, Inc.

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