NEW YORK, April 9, 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 March 2019.
This brings to 15 the total number of customers deployed into
commercial service during the three months to March 31st, 2019.
The announcement caps a first quarter during
which Pareteum grew its 36-month Contractual Revenue
Backlog (36MCRB) of signed sales agreements to a new
total of $938
million.
Strong growth in new sales transactions reflects the recent
strategic acquisitions of Artilium and iPass. These
acquisitions have deepened Pareteum's capabilities and
created a rich seam of cross- and up-sell opportunities with
existing customers, as well as significantly expanding the overall
addressable market.
The seven new customers now harnessing Pareteum to
power their commercial services include:
- A US service provider using the Pareteum cloud
platform and network to provide mobility services, including the
capability for provisioning multiple numbers, to consumer and
enterprise markets
- A provider of mobility and security solutions for
families, utilizing the API interface
to Pareteum's cloud platform and network to deliver
connectivity to customers buying their specialist devices in the US
market
- A UK-based service provider
using Pareteum's Mobile Virtual Network Operator platform
to launch a social influencer-driven mobility offering
- A fast-growing US mobile virtual network operator
using the API interface to the Pareteum platform to power
highly flexible, no-contract connectivity services to the consumer
market
- A provider of mobile engagement and sponsored data
solutions to B2C brands and mobile
operators which is using Pareteum's network to
support global services
- A US mobile virtual network operator
using Pareteum's cloud platform and network capabilities
to deliver contract-free mobility services
- A UK-based mobile virtual network operator which is
migrating its existing operation to the Pareteum cloud
platform
Pareteum's Executive Chairman and Principal Executive
Officer Hal Turner commented, "We
have delivered a phenomenal first quarter, powering innovative new
'Communications Re-imagined' service launches from a wide array of
customers. Our ability to help customers break into new
markets fast, without the need for heavy investment in
infrastructure, means we quickly become strategic partners, driving
excellent opportunities for further up-sell."
Vic Bozzo, Chief Executive
Officer at Pareteum added, "This past quarter has seen us
build significant additional momentum for our 36-Month Contractual
Revenue Backlog. As we move into the next quarter we will
continue to drive hard on both execution and new sales."
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.
36-Month Contractual Revenue Backlog
Definition:
36-Month Contractual Revenue Backlog (36MCRB), is a Non-GAAP
financial measure. It is measured on a forward-looking 36-month
snapshot view, monthly, and is generated by the Company's
Communications Services Providers, Enterprises, and IoT customers
who use communication as a service platform products and services
from the company's portfolio. The Pareteum multi-year
Software-as-a-Service agreements include service establishment and
implementation fees, guaranteed minimum monthly recurring fees, as
well as contractually scheduled subscribers (connections), in some
cases including subscriber (connections) usage, during the term of
the agreement, and, their resulting monthly recurring contractual
revenue. There can be no assurances that we reach the total
contract revenue backlog. Timing of revenue recognition may vary
from actual results.
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:
Ted O'Donnell
Chief Financial Officer
+1 646 810 2182
InvestorRelations@pareteum.com
Michael Bloom
Investor Relations
michael.bloom@pareteum.com
Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075
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SOURCE Pareteum Corporation