NEW YORK, July 1, 2019 /PRNewswire/ -- Pareteum
Corporation (NASDAQ: TEUM), a rapidly growing cloud
communications platform company, today announced that its positive
preliminary financial results for the second quarter of 2019 will
exceed current analysts' consensus of $26.2
million(1) for revenue and $4.1 million(1) for Adjusted EBITDA.
These results represent significant ongoing revenue growth and
bottom-line improvement for the Company.
"Pareteum delivered a strong second quarter,
achieving robust year-over-year revenue growth and solid
bottom-line performance driven by substantial customer demand
and increasing connections and usage within the customer base,"
said Hal Turner, Founder, Chairman
& Chief Executive Officer of Pareteum. "Reception to our newly
launched Pareteum Experience Cloud™ has been extremely positive and
we are very excited by the accelerating momentum and rates of
initial customer adoption for this powerful new solution. We are
providing investors and analysts with an early view of our results
on a one-time basis given the compelling quarter and in
advance of several planned institutional investor meetings in
July. Our rapid growth reflects solid performance across all
areas of the business and further bolsters our confidence and
excitement regarding the tremendous growth potential for
Pareteum."
These results are preliminary and unaudited and are subject to
change based on the completion of the company's normal quarter-end
review process. As a result, these preliminary results may be
different from the actual results that will be reflected in
Pareteum's consolidated financial statements for the quarter ended
June 30, 2019 when they are
released.
Pareteum will release its full second quarter 2019 financial
results for the quarter ended June 30,
2019 on August 6, 2019. On
that day, management will hold a conference call and webcast at
4:30 p.m. ET to review and discuss
the Company's results. The webcast will be available live on the
Investors section of the Company's website
at https://investors.pareteum.com.
1 Source: Thomson Reuters as of July 1, 2019
CONFERENCE CALL INFORMATION:
Date: August 6, 2019
Time: 4:30 PM EDT
Conference ID: 2627933
Domestic Dial-in Number: 1-800-239-9838
International Dial-in Number: 1-323-794-2551
Belgium Toll Free: 0800 58228
Netherlands Toll Free: 0800 023 1436
U.K. Toll Free: 0800 358 6377
About Pareteum:
Millions of people and devices are
connected around the world using Pareteum's Global Cloud
Communications Platform, enhancing their mobile experience.
Pareteum unleashes the power of applications and mobile services,
bringing secure, ubiquitous, scalable, and seamlessly available
voice, video, SMS/text messaging, and data, media and content
enablement to our customers, making worldwide communications
services easily and economically accessible to everyone. By
harnessing the value of our cloud communications platform, Pareteum
serves enterprises, communications service providers, early stage
innovators, developers, IoT, and telecommunications infrastructure
providers. Pareteum envisions a new mobile communications
experience imagining what will be, and delivering now. Pareteum
currently has offices in North
America, South America,
Spain, Bahrain, Singapore, India, Indonesia, Germany, Belgium, United
Kingdom, Russia, and
the Netherlands. For more
information please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements may include, without
limitation, statements with respect to Pareteum's plans and
objectives, projections, expectations and intentions. These
forward-looking statements are based on current expectations,
estimates and projections about Pareteum's industry, management's
beliefs and certain assumptions made by management. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of Pareteum may differ materially from the
results expressed or implied by such forward-looking statements.
Given these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise
required by law, Pareteum also disclaims any obligation to update
its view of any such risks or uncertainties or to announce publicly
the result of any revisions to the forward-looking statements made
here. Additional information concerning certain risks and
uncertainties that could cause actual results to differ materially
from those projected or suggested in Pareteum's filings with the
Securities and Exchange Commission, copies of which are available
from the SEC or may be obtained upon request from Pareteum
Corporation.
Media Inquiries
Press@pareteum.com
Pareteum Investor Relations Contacts:
Michael Bloom
Investor Relations
+1 650 232-4341
michael.bloom@pareteum.com
Allise Furlani
The Blueshirt Group
+1 212-331-8433
allise@blueshirtgroup.com
Carrie Howes
Rayleigh Capital
European- Global IR
+1 650-232-4238
carrie.howes@pareteum.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/pareteum-announces-its-second-quarter-2019-financial-results-will-exceed-analysts-consensus-300878179.html
SOURCE Pareteum Corporation