Press Releases

PeerStream, Inc. Reports Third Quarter 2018 Results

– NEW YORK, Nov. 08, 2018 (NewMediaWire) -- PeerStream, Inc. ("PeerStream," the "Company," "we," "our" or "us") (OTCQB: PEER), a global internet solutions provider driving adoption of emerging blockchain technologies, today announced financial and operational results for the third quarter of 2018 ended September 30, 2018.Third Quarter 2018 Financial Highlights:Total revenue of $6.7 million increased 12.8% as compared to the same period last year due to the Company's new Business Solutions offerings and recognition of revenue from the technology services agreement with ProximaX Limited ("ProximaX").Business Solutions contract prepayments of approximately $4.8 million have been booked as deferred technology service revenue on the balance sheet at September 30, 2018 and will be recognized over the remaining term of the contract with ProximaX.Net loss was approximately $570 thousand for the third quarter ended September 30, 2018, a $1.4 million improvement when compared to a net loss of approximately $2.0 million for the third quarter ended September 30, 2017. Net loss in the third quarter of 2018 was driven by a $576 thousand impairment loss on digital tokens received by the Company in connection with the ProximaX technology services agreement.Adjusted EBITDA, a non-GAAP measure, was approximately $884 thousand for the quarter ended September 30, 2018, a significant increase of $2.0 million compared to an adjusted EBITDA loss of approximately $1.2 million in the comparable period last year.As of September 30, 2018, PeerStream's cash balances totaled $7.2 million with zero debt on the balance sheet.Third Quarter 2018 Financial Overview (in thousands)Current quarter compared to same quarter last year:  Three Months Ended  September 30,GAAP Results (unaudited) 2018 2017 ChangeSubscription revenue $4,907  $5,447  (9.9)%Advertising revenue  331   480  (31.1)%Technology service revenue  1,448   -  100.0%Total revenues $6,686  $5,927  12.8%       Net loss $(570) $(2,004) (71.6)%Net cash used in provided by operating activities$(461) $(1,281) (64.0)%       Financial Metrics (unaudited)      Active subscribers (at period end)  150   168  (10.7)%Subscription bookings $4,690  $5,471  (14.3)%Adjusted EBITDA (a non-GAAP measure) $884  $(1,150) N/ACurrent year-to-date compared to same period last year:  Nine Months Ended  September 30,GAAP Results (unaudited) 2018 2017 ChangeSubscription revenue $15,318  $17,414  (12.0)%Advertising revenue  967   1,472  (34.3)%Technology service revenue  3,540   -  100.0%Total revenues $19,825  $18,886  5.0%       Net loss $(3,243) $(4,528) (28.4)%Net cash (used in) provided by operating activities $3,301  $(660) N/A       Financial Metrics (unaudited)      Active subscribers (at period end)  150   168  (10.7)%Subscription bookings $14,937  $17,209  (13.2)%Adjusted EBITDA (a non-GAAP measure)$2,007  $(1,881) N/ADuring the three months ended September 30, 2018, we executed key components of our objectives:Continued to build the infrastructure for PeerStream Business Solutions through the addition of internal business development resources, the initialization of marketing tactics and the augmentation of execution capabilities. PeerStream Business Solutions provides consulting, services and support related to blockchain technology adoption for corporate clients by leveraging the Company's blockchain technology capabilities and proprietary software in development;Advanced development of PeerStream Protocol ("PSP"), an open source, multimedia delivery protocol that is built on blockchain technology and is designed to increase privacy, security, scalability, and cost efficiency for real-time communication applications in such areas as video conferencing, messaging and workforce collaboration. PSP is our first blockchain-based software to be made available for license and is designed for third party developers and corporate clients. Already under license by ProximaX, PSP is currently on target for initial launch in Q1 of 2019; andMade significant progress towards the Q4 2018 launch of a private beta version ...

PeerStream, Inc. Reports Second Quarter 2018 Results

– Results Include $2.1 Million Revenue from New Blockchain Business Solutions Offering NEW YORK, NY / ACCESSWIRE / August 6, 2018 / PeerStream, Inc. ("PeerStream," the "Company," "we," "our" or "us") (OTCQB: PEER), a global internet solutions provider...

PeerStream Joins Chamber of Digital Commerce

– Chamber of Digital Commerce is World's Largest Blockchain Trade OrganizationNEW YORK, NY / ACCESSWIRE / June 20, 2018 / PeerStream, Inc. ("PEER," the "Company," "we," "our" or "us") (OTCQB: PEER), a leading developer of innovative decentralized ...

PeerStream, Inc. Reports First Quarter 2018 Results

– Company Achieves Positive EBITDA from Impact of Integration Cost Reductions, First Payment from Major Business Solutions Partnership Received NEW YORK, May 09, 2018 (GLOBE NEWSWIRE) -- PeerStream, Inc. (f/k/a Snap Interactive, Inc.) (“PeerStream,” the ...
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