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. (ADTM) is a leading provider of mobile video delivery and monetization solutions for publishers, content producers and advertisers. The Company’s comprehensive mobile video technology platform, Media Graph, facilitates the delivery of integrated, engaging video content and impactful ad units across all screens and devices. Adaptive Medias is one of the first companies to offer clients a digital video player built specifically for the mobile world. For more information, please visit www.adaptivem.com. Follow the Company on Twitter @adaptive_m.
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SAFE HARBOR STATEMENT
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. 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.