MeetMe (MEET) Offers Prelim. Q4 Results

The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the mobile meeting space, today pre-released selected preliminary financial information for its fourth quarter and full year 2017.

Preliminary Financial Results for the fourth quarter 2017. The Company expects:

• Revenue to be at or above the high end of its prior outlook of $36.5 million to $38 million; and
• Adjusted EBITDA to be near or above the high end of its prior outlook of $7.5 million to $9.5 million.

(Street sees Q4 revenue of $37 million)

Preliminary Financial Results for the full year 2017. The Company expects:

• Revenue to be at or above the high end of its prior outlook of $120.1 million to $121.6 million; and
• Adjusted EBITDA to be near or above the high end of prior guidance of $28.6 million to $30.6 million.

"We are pleased to deliver strong preliminary results for the fourth quarter," said Geoff Cook, Chief Executive Officer of The Meet Group. "Our recent close of the Lovoo acquisition and the continued rollout of our video platform demonstrate our commitment to diversifying our revenue mix and delivering on the promise of livestreaming video.

“While still a small component of total revenue, monetization of our video product has been accelerating. In the past five weeks, average revenue per daily active user for MeetMe Live users, or vARPDAU, in the United States doubled to approximately 20 cents, up from approximately 10 cents just five weeks ago. We believe this has been largely driven by the initial success of our new video gifting product on our MeetMe app. In addition to driving monetization, we believe the gifting feature also incentivizes streamers to produce higher-quality content and spend more time engaging with their audience. In fact, we saw time spent in video increase following the launch of monetization.

“Building on our early success in video, we recently expanded our mobile product offerings in Skout with the launch of Skout Live. Skout Live gives users the ability to broadcast and view livestreaming video, invite other guest broadcasters into their live-streams, and earn virtual gifts.”

Early results show increasing user engagement with the product:

* On average, 24% of Skout’s daily active users currently watch live-streams* 10% of all Skout live-streamers are already receiving gifts

The Company has also commenced deployment of the cashout process on Skout Live, where streamers can exchange a portion of the gift value they receive for real money. The gifting and cash out features are expected to be available on Tagged Live in the first quarter of 2018.

The Company has not yet closed and not yet finalized its financial statement review process for the fourth quarter and full year 2017. As a result, the information in this release is preliminary and based upon information available to the Company as of the date of this release, and thus remains subject to the completion of the normal year-end accounting procedures and adjustments. During the course of the Company’s review process, items may be identified that would require the Company to make adjustments, which could result in changes to our preliminary selected financial information above. As a result, the preliminary selected financial information above is forward-looking information and subject to risks and uncertainties, including possible adjustments to such information. The Company expects to report its fourth quarter and full year 2017 results in March of 2018.

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