MEET Meet Group Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 23, 2015

 

MeetMe, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware		001-33105		86-0879433
(State or other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

 

 

100 Union Square Drive New Hope, Pennsylvania		18938
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (215) 862-1162

 

Not Applicable

(Former name or former address if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 7.01 Regulation FD Disclosure.

 

On June 23, 2015, MeetMe, Inc. (the “Company”) issued a press release for improved second quarter 2015 guidance. A copy of the press release is attached hereto as Exhibit 99.1.

 

The information furnished pursuant to Item 7.01 of this Current Report shall not be considered “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Exchange Act, unless the Company expressly sets forth in such future filing that such information is to be considered “filed” or incorporated by reference therein. This information shall not be deemed an admission as to the materiality of such information that is required to be disclosed solely by Regulation FD.

 

Item 9.01. Financial Statements and Exhibits

 

(d)      Exhibits

 

Exhibit No.		Description
99.1		MeetMe, Inc. press release, dated June 23, 2015.

 

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

		MEETME, INC.
Date: June 23, 2015		By: /s/ David Clark
		Name:  David Clark
		Title:    Chief Financial Officer

 

 

 

EXHIBIT INDEX

 

 

Exhibit No.		Description
99.1		MeetMe, Inc. press release, dated June 23, 2015.

 

 

Exhibit 99.1

 

 

Investor Contact:

 

MKR Group Inc.

Todd Kehrli

(323) 468-2300

meet@mkr-group.com 

 

MeetMe Announces Improved Second Quarter 2015 Guidance

 

NEW HOPE, Pa.—June 23, 2015—MeetMe, Inc. (NASDAQ: MEET), a public market leader for social discovery, today announced it increased its revenue and adjusted EBITDA guidance for its second quarter ending June 30, 2015 based on progress it has made in successfully transitioning management of its advertising inventory in-house earlier this month.

 

Geoff Cook, Chief Executive Officer of MeetMe, stated, “Since resuming management of our advertising inventory, we have experienced stronger rates than we originally anticipated. Our daily mobile app advertising revenue in the first three weeks of June has increased 23% versus the May average, and in the seven days ending June 21st, we have experienced 53% higher daily mobile app advertising revenue than the May average. We continue to enhance and improve our current ad inventory and look forward to testing full-screen mobile video ad units in July.”

 

David Clark, Chief Financial Officer of MeetMe, added, “We now expect second quarter revenue to be between $10.5 million and $10.7 million, above our previously revised guidance of $9.0 million to $9.5 million. Adjusted EBITDA for the second quarter is expected to be between $1.5 million and $2.0 million, compared to our previously provided revised guidance of adjusted EBITDA in the range of $250,000 to $750,000. All guidance amounts are subject to change based on our determination of the collectability of all amounts owed to us by Beanstock Media, Inc. Beanstock represents approximately $5.8 million in accounts receivable, of which approximately $2.25 million is overdue. We believe none of these amounts is in dispute.”

 

MeetMe expects to announce full second quarter 2015 results in early August at which point it expects to also furnish additional revenue and profitability related metrics and updated annual guidance for 2015.

 

About MeetMe, Inc. 

 

MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NASDAQ: MEET). MeetMe makes it easy to discover new people to chat with on mobile devices. With approximately 80 percent of traffic coming from mobile and more than one million total daily active users, MeetMe is fast becoming the social gathering place for the mobile generation. The company is a leader in mobile monetization with a diverse revenue model comprising advertising, native advertising, virtual currency, and subscription. MeetMe apps are available on iPhone, iPad, Android and Windows Phone in multiple languages, including English, Spanish, Portuguese, French, Italian, German, Chinese (Traditional and Simplified), Russian, Japanese, Dutch, Turkish and Korean. For more information, please visit meetmecorp.com.

 

 

 

Forward-Looking Statements 

 

Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whether our EBITDA will continue to grow, whether we will continue to experience stronger rates than originally anticipated, whether our mobile app advertising revenue will continue to increase and if so at what rates, whether we will continue to enhance and improve our current ad inventory, whether we will test full-screen mobile video ad units in July, whether our second quarter revenue and adjusted EBITDA will meet expected results, whether and what amount of overdue accounts receivable we will be able to collect from Beanstock Media, Inc., and the timing of such collection. 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 we are not able to collect our overdue amounts from Beanstock Media Inc. easily or otherwise as anticipated, the risk that our transition of managing our advertising inventory in-house will not continue successfully as anticipated, our expectations for revenue and adjusted EBITDA will not be met, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, and events could adversely affect usage of our 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, 2014, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, and the Current Report on Form 8-K filed on June 3, 2015. 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.