The Meet Group, Inc. (NASDAQ:MEET) rose Tuesday after the company issued strong Q4 forecast.
The company, based in New Hope, Pa., claiming its status as a public market leader in the mobile meeting space, declared that, for the fourth quarter 2018, it 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.
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."
Shares tacked on 16 cents, or 3.2%, to $5.20
