MIAMI, FL--(NewMediaWire - Feb 4, 2016) - Net Element, Inc.
(NASDAQ: NETE)
("Net Element" or the "Company"), a provider of global mobile
payment technology solutions and value-added transactional
services, today announced preliminary transaction processing
results for the fourth quarter and year ended December 31,
2015.
2015 Full Year Results:
- Total US Dollar volume processed globally
in 2015 exceeded $1.75 billion with an annual run rate of over $2
billion as of December 2015, an increase of 9.4% compared to $1.6
billion in 2014. (Russian volume includes effects of currency
adjustments)
Total transactions processed for 2015
exceeded 160.7 million compared to 51.9 million in 2014, an
increase of 210%.
2015 Fourth Quarter Results:
- Total US Dollar volume processed in the
fourth quarter of 2015 exceeded $537 million, an increase of 28%
compared to $420 million in 2014.
Total transactions processed in the fourth
quarter of 2015 exceeded 53.5 million, an increase of 128% compared
to 23.5 million in 2014.
Total number of consumers served exceeded 14
million in the fourth quarter of 2015, an increase of 1,386%
compared to 942 thousand in 2014. (11 million of consumers are
attributed to the PayOnline acquisition completed in 2015)
"2015 was another record year across all key operating metrics,"
commented Oleg Firer, CEO of Net Element. "We are pleased with our
fourth quarter metrics. We were able to post strong gains from our
core businesses despite unfavorable currency conversion rates in
2015."
About Net Element
Net Element, Inc. (NASDAQ: NETE)
operates a payments-as-a-service transactional and value-added
services platform for small to medium enterprise ("SME") in the US,
Russian Federation and other international markets. In the US it
aims to grow transactional revenue by innovating SME productivity
services such as its cloud based, restaurant point-of-sale solution
Aptito. Internationally, Net Element's strategy is to leverage its
omni-channel platform to deliver flexible offerings to emerging
markets with diverse banking, regulatory and demographic conditions
such as UAE, Kazakhstan, India and Latin America where initiatives
have been recently launched. It maintains offices in Miami, FL and
in Russia. Further information is available at www.netelement.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Any statements contained in this press release that are not
statements of historical fact may be deemed forward-looking
statements. Words such as "continue," "will," "may," "could,"
"should," "expect," "expected," "plans," "intend," "anticipate,"
"believe," "estimate," "predict," "potential," and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, whether Net Element can secure any additional financing
and if such additional financing will be adequate to meet the
Company's objectives. All forward-looking statements involve
significant risks and uncertainties that could cause actual results
to differ materially from those expressed or implied in the
forward-looking statements, many of which are generally outside the
control of Net Element and are difficult to predict. Examples of
such risks and uncertainties include, but are not limited to: (i)
Net Element's ability (or inability) to obtain additional financing
in sufficient amounts or on acceptable terms when needed; (ii) Net
Element's ability to maintain existing, and secure additional,
contracts with users of its payment processing services; (iii) Net
Element's ability to successfully expand in existing markets and
enter new markets; (iv) Net Element's ability to successfully
manage and integrate any acquisitions of businesses, solutions or
technologies; (v) unanticipated operating costs, transaction costs
and actual or contingent liabilities; (vi) the ability to attract
and retain qualified employees and key personnel; (vii) adverse
effects of increased competition on Net Element's business; (viii)
changes in government licensing and regulation that may adversely
affect Net Element's business; (ix) the risk that changes in
consumer behavior could adversely affect Net Element's business;
(x) Net Element's ability to protect its intellectual property;
(xi) local, industry and general business and economic conditions;
(xii) adverse effects of potentially deteriorating U.S.-Russia
relations, including, without limitation, over a conflict related
to Ukraine, including a risk of further U.S. government sanctions
or other legal restrictions on U.S. businesses doing business in
Russia. Additional factors that could cause actual results to
differ materially from those expressed or implied in the
forward-looking statements can be found in the most recent annual
report on Form 10-K and the subsequently filed quarterly reports on
Form 10-Q and current reports on Form 8-K filed by Net Element with
the Securities and Exchange Commission. Net Element anticipates
that subsequent events and developments may cause its plans,
intentions and expectations to change. Net Element assumes no
obligation, and it specifically disclaims any intention or
obligation, to update any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by law.