The Meet Group (MEET) Prelim. Q4 Revenue Tops Views

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 2018.

For the fourth quarter 2018, the Company expects:

• Revenue of approximately $52.3 million, above the high end of its prior outlook of $47.8 million to $48.8 million; and
• Adjusted EBITDA of approximately $10.3 million, above the high end of its prior outlook of $8.7 million to $9.1 million.

(**Consensus sees Q4 revenue of $49.77 million)

Preliminary Financial Results for the full year 2018. The Company expects:

• Revenue of approximately $178.5 million, above the high end of its prior outlook of $174 million to $175 million; and
• Adjusted EBITDA of approximately $31.8 million, above the high end of its prior outlook of $30.2 million to $30.6 million.

“We ended 2018 with excellent results across our business,” said Geoff Cook, CEO of The Meet Group. “Video revenue grew in total and across each of our apps in the fourth quarter compared to the third. We exited the year with an annualized video revenue run-rate of $71 million based on the month of December, capping a remarkable year for a product that we launched just 15 months ago.

“Users are enthusiastically embracing our Battles product, which has infused a new level of energy, fun and excitement into Live,” continued Cook. “While it is still very much early days for the product, more than 30,000 battles per day took place in the past week, as livestreamers competed to earn the most diamonds and become the best singer, dancer or battler. Viewer gifting behavior over the same period was strong as total credits given in Battles comprised approximately 15% of Live credits.

“Advertising results in the fourth quarter were also seasonally strong with ad revenue growing approximately 19% from the third 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 2018. 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 2018 results in March of 2019.

You May Also Be Interested In

• Apogee Enterprises names new Architectural Glass segment president
• Bitdeer board member Chao Suo to resign effective July 2026
• Sable Resources outlines new targets ahead of first drill at Zorro