Pareteum Corporation (NASDAQ:TEUM)
Historical Stock Chart
3 Months : From Apr 2019 to Jul 2019
NEW YORK, May 10, 2019 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM), a rapidly growing global cloud software communications platform company with a mission to connect every person and every(thing)TM, today announced it launched seven new customers into production during April 2019.
Continued rapid movement of customers into production is driving a strong financial performance from Pareteum. Today's announcement follows the release of Pareteum's first quarter financial results for 2019, during which the Company generated revenue of $23 Million, a year-over-year growth rate of 460 percent.
The seven new customers now powering their commercial services with Pareteum solutions are:
- An Internet of Things (IoT) service provider using the Pareteum SuperAPI to connect to the Pareteum global network to deliver IoT connectivity and management services to customers and application developers in the automotive, smart city, and systems integrator sectors.
- A developer of a global blockchain-based Wi-Fi sharing community which has embedded Pareteum's global smart Wi-Fi network into its mobile app to provide access for members who have mined tokens by sharing their own Wi-Fi.
- A provider of mobility services using the Pareteum cloud platform and smart network to power competitive national and international mobile services to ex-pat communities living in the Netherlands.
- A mobile voice and broadband services provider to international enterprise and consumer markets using Pareteum's cloud platform, SIM solutions, and network capabilities to deliver services in the US, Australia, and New Zealand.
- A Pay-TV and broadband provider using the Pareteum solutions to extend its bundled offering to include mobile services.
- A US Mobile Virtual Network Operator and provider of virtual PBX services using the Pareteum platform and network to power services to the B2B market.
- A UK Mobile Virtual Network Operator with distribution through one of the UK's largest wholesale retailers is using the Pareteum cloud platform, network, and SuperAPI to power consumer services.
Pareteum's Executive Chairman and Principal Executive Officer Hal Turner commented, "We are maintaining incredible momentum in bringing our customers into commercial operation while continuing to drive new business opportunities for our software- and cloud-based solutions. I am proud of our highly skilled software engineering TEUM and I look forward to deep and fruitful strategic relationships with each of these customers and many more."
Vic Bozzo, Chief Executive Officer at Pareteum added, "At Pareteum we strive for excellence in execution and I am delighted with our continued efforts. Revenue continues to grow and that is the proof that we are succeeding at every point in our customer relationships, from sales transactions all the way through to commercial launch."
About Pareteum Corporation:
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, 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
Pareteum Investor Relations Contacts:
Chief Financial Officer
+1 646 810 2182
The Blueshirt Group email@example.com
European- Global IR
+1 416 837 0075
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SOURCE Pareteum Corporation