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MeetMe: Todd Kehrli Or Jim Byers

The following excerpt is from the company's SEC filing.

(323) 468-2300

meet@mkr-group.com

MeetMe Reports Preliminary Third Quarter 2015 Financial Results

Above its Previously Released Guidance

– MeetMe, Inc. (NASDAQ: MEET), the public market leader for social discovery, today reported preliminary financial results for its third quarter ended September 30, 2015.

Total revenue is expected to be approximately $14.2 million, an increase of approximately 22% from the third quarter of 2014, and above the Company’s previously released guidance range of $12.5 million to $13 million for the third quarter of 2015.

Adjusted EBITDA is expected to be approximately $5.1 million, an increase of approximately 134% from the prior year third quarter and above the previously released guidance range of $2 million to $3 million for the third quarter of 2015. Third quarter 2015 adjusted EBITDA will exclude approximately $5.8 million of an anticipated one-time write-off of Beanstock Media’s accounts receivable balance, which falls outside of the Company’s normal range of bad debt expense.

David Clark, Chief Financial Officer of MeetMe, added, “We believe our quarterly revenue growth in excess of 20% year over year reflects continued growth in mobile engagement and the effective management of mobile advertising inventory. We significantly increased adjusted EBITDA year over year largely as a result of mobile revenue growth and prudent cost controls. During the quarter, we determined it was necessary to write-off the accounts receivable owed by our previous outsourced inventory management provider, Beanstock Media. This bad debt write-off is a one-time event that falls well outside our normal range of bad debt expense of less than 1% of revenue and should not impact our ability to deliver substantial EBITDA margins going forward. Furthermore, we successfully completed our transition to in-house management in the second quarter at little or no additional cost, and since then have continued to grow both revenue and adjusted EBITDA. We do intend to vigorously pursue repayment of these amounts despite this write-off.”

Earnings Call and Webcast

MeetMe expects to report full third quarter results in early November. Details for the earnings conference call and webcast will be provided in a separate press release.

About MeetMe, Inc.

MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NASDAQ: MEET). MeetMe makes it...


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