MeetMe Reports U.S. Mobile CPMs Increased 14% Year over Year for November; Reiterates Fourth Quarter and Full Year 2016 Guida...
December 05 2016 - 9:00AM
Business Wire
MeetMe, Inc. (NASDAQ: MEET), a public market leader for social
discovery, announced today that its mobile CPMs in the United
States increased 14% year over year for the month of November.
MeetMe also reiterated its fourth quarter and full year 2016
guidance ahead of its participation in the 5th Annual ROTH Utah
Corporate Access Event taking place December 9-11, 2016 in Park
City, Utah. MeetMe’s Chief Revenue Officer, William Alena, will be
meeting with institutional investors at the event.
Fourth Quarter 2016 Guidance
- Revenue for the quarter is expected to
be in the range of $27.5 million and $29.0 million, representing
growth of between 38% and 46% year over year.
- Adjusted EBITDA for the quarter is
expected to be in the range of $11.5 million and $13.5 million,
representing growth of between 28% and 50% year over year.
Full Year 2016 Guidance
- Revenue for the year is expected to be
in the range of $74.5 million to $76.0 million, representing growth
of between 31% and 34% year over year.
- Adjusted EBITDA for the year is
expected to be in the range of $28.0 million to $30.0 million,
representing growth of between 38% and 48% year over year.
To arrange a one-on-one meeting with Mr. Alena at the Roth
event, please contact either your ROTH Capital Partners
salesperson, or the MKR Group at meet@mkr-group.com.
About MeetMe, Inc.
Through its MeetMe® and Skout® mobile apps and websites, MeetMe
is a leading social network for meeting new people in the US and a
public market leader for social discovery (NASDAQ: MEET). MeetMe
makes it easy to discover new people to chat with on mobile
devices. With approximately two 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, user credits, and
subscriptions. MeetMe’s apps are available
on iPhone, iPad, and Android in multiple
languages worldwide. 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 whether our mobile CPMs in the United
States will increase in the future, whether we will participate in
the ROTH event and hold upcoming investor meetings as anticipated,
and whether we will obtain projected revenue and adjusted EBITDA as
anticipated for the fourth quarter and the full year 2016,. 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, 2015, the Form 10-Q for the quarter ended June
30, 2016 and the Form 8-K filed on October 4, 2016. 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, including Adjusted EBITDA,
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.
The Company defines Adjusted EBITDA as earnings (or loss) from
continuing operations before interest expense, change in warrant
liability, benefit or provision for income taxes, depreciation and
amortization, and non-cash stock-based compensation, non-recurring
acquisition and restructuring expenses, gain or 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/20161205005472/en/
MKR Group, Inc.Todd Kehrli or Jim Byers(323)
468-2300meet@mkr-group.com
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