MENAFN Press - 25/02/2017
| Pareteum Offers Major Upside Via New Management Team and Recently Completed a Restructuring Plan |
"Paretum Corporation, Ticker: TEUM"
TEUM is a very compelling turnaround story. Pareteum is a global software and services company serving the needs of communications services providers (CSP's) of all sizes, businesses (large and small) and the emerging needs of the internet of things (IoT), where all 'things are connected.
The Company's software services enable communication service providers and businesses to expand their service offerings without the limitations imposed by their traditionally inflexible and complex legacy hardware infrastructure systems and operating software. With Pareteum's software services, carriers and other providers can quickly and cost effectively add evolving new services such as IoT and all kinds of connected devices while efficiently managing all required back-office and billing operations. Furthermore, because the Pareteum platform is software-based and fully cloud enabled, new services can be created and rapidly deployed globally with very little upfront cost.
• Company emerging from successful restructuring and turn around highlighted by appointment of veteran telecommunications executives including new CEO, Viv Bozzo, new CFO, Ted O'Donnell, new Board members, expanded sales team and removal of over 10M in annualized operating expenses.
• NYSE accepted company's compliance plan, grants extension and moves Company to quarterly from monthly reporting.
• TEUM's largest client is Vodafone - TEUM announced it has secured an extension of its existing MVNE relationship with Vodafone Enabler S.L. (VEE), a unit of Vodafone Group, including upfront development payments and additional service fees. Also in another announcement Vodafone Enabler is taking MNVO service offerings to all the Vodafone companies throughout the world.
• Company provided guidance of 25% top-line revenue growth in 2017 off its 3 million Q4 2016 run rate and already secured four new customer contracts.
• Reached neutral pro forma EBITDA in 3Q and guided positive pro forma EBITDA in 4Q and forward.
• Employee count went from approximately 300 in mid-2015 to 68 at end of 2016. Revenue per employee went from 57K to 190K in 2016
• 6 straight months of subscriber growth at end of 3rd Quarter and prior to newly announced contracts.
Company Name: PublicWire
Contact Person: Dave Donlin
Address:5850 TG Lee Blvd, Suite 300
Country: United States