IRVINE, Calif., March 14, 2016 (GLOBE NEWSWIRE) -- Content syndication and monetization company, Adaptive Medias, Inc. (OTCQB:ADTM), a leader in programmatic advertising across mobile, video and online display, today announced it expects revenues to exceed its previously announced guidance and to achieve positive adjusted EBITDA in the fourth quarter ended December 31, 2015.
“Our shift towards our 'Media Graph First' higher-margined technology sales strategy is well on-track as reflected by the increased demand for our technology. As a result, we expect our fourth quarter results will top our most recent guidance,” said John B. Strong, Adaptive Medias’ Chairman and Chief Executive Officer. “We now see fourth quarter revenues above $1.6 million, compared with our previous guidance of $1.33 million. We also expect to achieve positive adjusted EBITDA during the quarter.”
CEO Comments on Recent Offer to Acquire Adaptive Medias
Mr. Strong today also provided an update on the status of AdSupply’s recently-announced offer to acquire Adaptive Medias for approximately $1.50 per share. “As we continue to work with AdSupply to evaluate our options, we believe the combination of Adaptive Medias and AdSupply will likely represent a compelling opportunity for both companies and their respective clients and shareholders. We believe a merger of the parties could enhance the business and growth prospects of the combined entities and position us as a leading strategic partner of choice in the mobile advertising space and could potentially bring more value to our shareholders than our acquisition by AdSupply. We expect to complete our evaluation very soon and look forward to sharing our assessment with our shareholders,” concluded Mr. Strong.
ABOUT ADAPTIVE MEDIAS, INC.
Adaptive Medias, Inc. (OTCBB:ADTM) is a programmatic audience and content monetization provider for website owners, app developers and video publishers who want to more effectively optimize content through advertising. The Company provides a foundation for publishers and developers looking to engage brand advertisers through a multi-channel approach that delivers integrated, engaging and impactful ads across multiple devices. Adaptive Medias meets the needs of its publishers with an emphasis on maintaining user experience, while delivering timely and relevant ads through its multi-channel ad delivery and content platform. For more information, please visit www.adaptivem.com. Follow the Company on Twitter @adaptive_m.
Non-GAAP Financial Measures
The Company uses certain non-GAAP financial measures in this release. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (GAAP).
We report adjusted EBITDA because it is a key measure used by our management and Board of Directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. In particular, the exclusion of certain expenses in calculating adjusted EBITDA, such as one-time stock compensation expenses, goodwill impairment and amortization, can provide a useful measure for period-to-period comparisons of our core business. Accordingly, we believe that adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors.
(This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Adaptive Medias' current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Adaptive Medias' actual results, performance or achievements to differ materially from those expressed in or implied by such statements, including without limitation, the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed merger agreement; the outcome of any legal proceedings that could be instituted against Adaptive Medias or its directors or AdSupply related to the proposed merger agreement; the possibility that various conditions to the consummation of the proposed acquisition not be satisfied or waived, including the receipt of all regulatory clearances related to the merger; the failure of Adaptive Medias to obtain the necessary financing to complete the proposed proposal, risks related to the ultimate outcome and results of integrating the operations of Adaptive Medias and AdSupply, the ultimate outcome of Adaptive Medias’ operating strategy applied to AdSupply and the ultimate ability to realize synergies; the effects of the business combination on Adaptive Medias and AdSupply, including on the combined company's future financial condition, operating results, strategy and plans; risks that the proposed transaction disrupts current plans and operations, and potential difficulties in employee retention as a result of the proposed merger; risks related to the combined companies’ ability to successfully implement its acquisition strategy or integrate other acquired companies; uncertainty as to the future profitability of businesses acquired by the combined entity, and delays in the realization of, or the failure to realize, any accretion from acquisition transactions by the combined entity; the risk of downturns in the ad-tech industry; the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in our other reports and other public filings with the U.S. Securities and Exchange Commission ("SEC"). Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.)