The Meet Group, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Third Quarter of 2018; and Revises Earnings Guidance for the Full Year of 2018
For the six months, the company reported revenues of $80,439,538 against $51,388,265 a year ago. Loss from operations was $3,019,383 against $1,244,578 a year ago. Loss before income tax benefit was $4,159,527 against $1,429,623 a year ago. Net loss was $4,447,933 against net income of $1,302,441 a year ago. Basic and diluted net loss per common stockholder was $0.06 against basic and diluted net income per common stockholder $0.02 a year ago. Net cash provided by operating activities was $9,598,418 against $16,662,265 a year ago. Purchase of property and equipment was $256,391 against $595,126 a year ago. Adjusted EBITDA was $12,793,325 against $12,181,610 a year ago. Diluted adjusted EBITDA per common stockholder was $0.16 against $0.17 a year ago. Non-GAAP net income was $10,497,915 against $10,946,888 a year ago. Diluted Non-GAAP net income per common stockholder was $0.14 against $0.16 a year ago.
The company provided guidance for the third quarter of 2018. For the quarter, the company expects revenue in the range of $43 million to $44 million, Adjusted EBITDA in the range of $7.4 million to $7.8 million.
The company revised earnings guidance for the full year of 2018. For the period, the company expects revenue in the range of $166 million to $168 million against prior guidance of $152 million to $155 million. Adjusted EBITDA is expected to be in the range of $27 million to $28 million against prior guidance of $21.5 million to $23.5 million.