MeetMe reported financial results for its full year and fourth quarter ended December 31, 2015. Q4 total revenue was a record $19.9 million, up 53% from the fourth quarter of 2014.
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Q4 mobile revenue was a record $17.2 million, up 126% from the fourth quarter of 2014. Mobile revenue represented 86% of total revenue, the highest in MeetMe’s history.
Adjusted EBITDA was a record $9.0 million, an increase of 247% year over year. Adjusted EBITDA margin increased to 45%, up from 20% in the fourth quarter of 2014.
Net income was a record $6.1 million, compared to net income of $847,000 for the fourth quarter of 2014. Cash and Cash Equivalents totaled $19.3 million at December 31, 2015.
Total revenue was a record $56.9 million, up 27% year over year. Mobile revenue was a record $45.3 million, up 84% year over year. Mobile revenue represented 80% of total revenue, up from 55% in 2014.
Adjusted EBITDA was a record $20.2 million, or a 36% margin, up 303% year over year. Net income was a record $6.0 million, compared to a net loss of $4.0 million for 2014.
Geoff Cook, chief executive officer of MeetMe, stated, "We believe our record revenue, adjusted EBITDA and net income reflect the increasing value of our audience to mobile advertisers and the continued growth in mobile engagement by our users.
"We saw record engagement in the fourth quarter and experienced tremendous growth in chats this past year, reaching a new milestone of 30 million user-to-user chats in a single day at the end of the year. In the fourth quarter, our mobile daily active users increased 20% year over year and our total mobile monthly active users increased 32% year over year."
David Clark, Chief Financial Officer of MeetMe, added, "Mobile revenue for 2015 increased 84% year over year and represented 80% of our total revenue, up from 55% in 2014.
"We believe our increasing revenue was driven by our growing mobile engagement as well as continued strength in the mobile advertising industry. Much of the increased revenue flowed through to adjusted EBITDA, which increased to a record $20 million for the year, resulting in a 36% adjusted EBITDA margin." ■
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