Subjects: CCA, ERP
Pareteum Announces Its Second Quarter 2019 Financial Results Will Exceed Analysts' Consensus
NEW YORK, July 1, 2019 /PRNewswire/ -- Pareteum Corporation (NASDAQ: TEUM), a rapidly growing cloud communications platform company, today announced that its positive preliminary financial results for the second quarter of 2019 will exceed current analysts' consensus of $26.2 million(1) for revenue and $4.1 million(1) for Adjusted EBITDA. These results represent significant ongoing revenue growth and bottom-line improvement for the Company.
"Pareteum delivered a strong second quarter, achieving robust year-over-year revenue growth and solid bottom-line performance driven by substantial customer demand and increasing connections and usage within the customer base," said Hal Turner, Founder, Chairman & Chief Executive Officer of Pareteum. "Reception to our newly launched Pareteum Experience Cloudtm has been extremely positive and we are very excited by the accelerating momentum and rates of initial customer adoption for this powerful new solution. We are providing investors and analysts with an early view of our results on a one-time basis given the compelling quarter and in advance of several planned institutional investor meetings in July. Our rapid growth reflects solid performance across all areas of the business and further bolsters our confidence and excitement regarding the tremendous growth potential for Pareteum."
These results are preliminary and unaudited and are subject to change based on the completion of the company's normal quarter-end review process. As a result, these preliminary results may be different from the actual results that will be reflected in Pareteum's consolidated financial statements for the quarter ended June 30, 2019 when they are released.
Pareteum will release its full second quarter 2019 financial results for the quarter ended June 30, 2019 on August 6, 2019. On that day, management will hold a conference call and webcast at 4:30 p.m. ET to review and discuss the Company's results. The webcast will be available live on the Investors section of the Company's website at https://investors.pareteum.com.
1 Source: Thomson Reuters as of July 1, 2019
CONFERENCE CALL INFORMATION:
Date: August 6, 2019
Time: 4:30 PM EDT
Conference ID: 2627933
Domestic Dial-in Number: 1-800-239-9838
International Dial-in Number: 1-323-794-2551
Belgium Toll Free: 0800 58228
Netherlands Toll Free: 0800 023 1436
U.K. Toll Free: 0800 358 6377
About Pareteum:
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, India, Indonesia, Germany, Belgium, United Kingdom, Russia, and the Netherlands. For more information please visit: www.pareteum.com.
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
[email protected]
Pareteum Investor Relations Contacts:
Michael Bloom
Investor Relations
+1 650 232-4341
[email protected]
Allise Furlani
The Blueshirt Group
+1 212-331-8433
[email protected]
Carrie Howes
Rayleigh Capital
European- Global IR
+1 650-232-4238
[email protected]
SOURCE Pareteum Corporation
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