NEW HOPE, Pa.--(EON: Enhanced Online News)--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 email@example.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.
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.