MeetMe Raises Full Year 2015 Financial Guidance
January 06 2016 - 9:00AM
Business Wire
MeetMe, Inc. (NASDAQ: MEET), a public market leader for social
discovery, today raised its full year 2015 financial guidance for
the year ended December 31, 2015 in advance of a non-deal roadshow
with potential investors.
Updated Full Year 2015 Guidance
- Total revenue is expected to be
approximately $56.5 million, an increase of 26% from full year
2014, and above the Company’s previously released guidance range of
$53.5 million to $54 million for full year 2015.
- Adjusted EBITDA is expected to be
approximately $19.5 million, an increase of 289% from the prior
year, and above the previously released guidance range of $16.5
million to $17.5 million for full year 2015.
David Clark, Chief Financial Officer of MeetMe, added, “Our
increased revenue guidance anticipates better than expected
performance reflecting seasonally strong fourth quarter advertising
rates and increasing engagement on our apps. As a result, we are
increasing adjusted EBITDA guidance as well.”
Earnings Call and Webcast
MeetMe expects to report full fourth quarter and year-end
results in early March. Details for the earnings conference call
and webcast will be provided in a separate press release.
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 90 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. MeetMe is a leader in mobile monetization with a
diverse revenue model comprising advertising, native advertising,
in-app purchases, and subscription. MeetMe apps are available on
iPhone, iPad, and Android 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, including statements regarding expected revenue
and expected adjusted EBITDA, whether revenue growth reflects
seasonally strong advertising rates and increasing engagement on
our apps, whether engagement on our apps will continue to grow, and
whether we will continue to grow both revenue and adjusted EBITDA.
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, 2014 and the Current Report on Form 8-K filed
with the SEC 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.
Regulation G – Non-GAAP Financial Measures
The Company uses financial measures 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
continuing operations before interest expense, change in warrant
liability, income taxes, depreciation and amortization, and
non-cash stock-based compensation, non-recurring acquisition and
restructuring expenses, loss on cumulative foreign currency
translation adjustment, gain on sale of asset, bad debt expense
outside the normal range, and the goodwill impairment charges. The
Company excludes stock-based compensation because it is non-cash in
nature.
Non-GAAP financial measures should not be considered as an
alternative to net income, operating income, cash flow from
operating activities, as a measure of liquidity or any other
financial measure. They may not be indicative of the historical
operating results of the Company nor is it intended to be
predictive of potential future results. Investors should not
consider non-GAAP financial measures in isolation or as a
substitute for performance measures calculated in accordance with
GAAP.
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version on businesswire.com: http://www.businesswire.com/news/home/20160106005624/en/
Investors:MKR Group Inc.Todd Kehrli or Jim Byers,
323-468-2300meet@mkr-group.com
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