Meetme.com (MEET) reported it earnings for the quarter and fiscal year ending December 31, 2012 after the market closed on Thursday night and the earnings report send the stock up over 15% in regular trading on Friday.
You may remember that Meetme.com is the company that bought the domain name Meet.me for $450,000
“Total revenues from continuing operations for the fourth quarter 2012 were approximately $11.6 million, an increase of approximately $5.7 million or 96% compared to approximately $5.9 million for the fourth quarter of 2011. This increase is primarily the result of a full quarter in 2012 of combined operations since the acquisition of myYearbook.
MeetMe reported revenues were approximately $9.9 million in the quarter ended December 31, 2012 as compared to revenues of $5.1 million for the same period in the prior year, representing an increase of $4.8 million, year-over-year.
For the year ended December 31, 2012, MeetMe reported revenues were $34.3 million, an increase of $29.1 million over the year ended December 31, 2011. When you compare the combined MeetMe platform revenues for the quarter and year ended December 31, 2011 of $8.4 million and $28.7 million, revenues increased $1.5 million for the quarter ended and $5.6 million for the year ended December 31, 2012.
Revenues from continuing operations were $11.6 million and $9.5 million on a combined basis for the fourth quarters of 2012 and 2011, respectively, an increase of $2.1 million or 23%. The increase on a combined basis is primarily due to the growth in the MeetMe platform revenues of $1.5 million or 18%, and cross-platform revenues of $600,000 or 56% over the comparable period a year ago.
For the year ended December 31, 2012, reported revenues from continuing operations were $46.7 million compared to $10.7 million for the same period in 2011, an increase of $35.9 million or 336%. Again, the reported revenue increase is primarily the result of a full year of combined operations since the acquisition of myYearbook.
On a combined basis for the year ended December 31, 2012, revenues of $46.7 million increased $11 million or 31% from $35.6 million in 2011. The increase in combined revenues is due primarily to the growth during 2012 of the MeetMe platform revenues, and cross-platform revenues of $5.6 million or 20% and $5.4 million or 77%, respectively, over the comparable period a year ago.
The company transformed from $10.7 million in revenue and 202 people in 2011, to $46.7 million in revenue and 154 people in 2012, representing revenue growth of 330% year-over-year.
Traffic on the MeetMe platform increased by a healthy margin in Q4. MeetMe Daily Active Users, DAU, increased 14% over the Q3 average to 1.261 million, while mobile DAU increased 13% to just over 765,000. Overall Monthly Active Users, MAU, increased 40% versus the Q3 average, driven in part by the onetime consolidation with the Quepasa platform in October, but also by our international expansion efforts in general, while our mobile MAUs increased 9%, breaking 2 million average MAUs for the first time. Meanwhile, new registration has leaped 59% overall to 95.8 million, again, mostly in new international markets, while mobile registrations were close to flat versus Q3.”