Pareteum Announces Customer Go-Live Deployments in Europe, South America, North America, and Asia Pacific
Revenue Conversion Accelerates
Pareteum Expects Positive EBITDA from Continuing Operations for the Full Year
NEW YORK, April 5, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, announced that the Company has implemented services announced during 2017 and which are part of the company's 36-month Contractual Revenue Backlog.
The following announced contracts, that are in our 36-month Contractual Revenue Backlog, have gone into live services production and will now begin producing monthly recurring revenues:
| Managed Service Platform Customers |
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| Pareteum Announces Expanded European MVNE Contract to Launch First Global MVNO |
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| Expanded Vodafone contract to manage roaming services |
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| Service went live with active connections Q2 2017 |
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| Pareteum Awarded Advanced Engagement from Vodafone Enabler S.L. |
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| Vodafone additional managed service for Broadband and 4G |
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| Service went live Q3 2017 |
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| Pareteum Expands into African Market Adding $12,000,000 to its Revenue Backlog with Mobile Virtual Network Enabler Agreement |
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| African based MVNE focused on Enterprise and Consumer Offerings |
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| Began revenue contribution April 2018 |
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| Brazil Mobile Service Provider Expands to Worldwide Markets and Selects Pareteum's Global Cloud |
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| Brazil based MVNO with established consumers |
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| Began services Q4 2017 |
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| Pareteum Europe Awarded Guaranteed € 8.7 Million Euro Contract for Managed Service Platform over 5 Years |
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| MVNO focused on consumer and enterprise mobile services for existing operator |
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| Began revenue contribution in Q1 2018 |
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| Global Cloud Platform Customers |
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| Pareteum to Utilize Patented SIM-Free Migration Technology to Enable New Cloud-Based Service Hosting |
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| HLR as a Service customer |
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| Began service Q3 2017 |
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| TEUM Awarded 2 Year Contract for Global Mobility Cloud Services |
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| Direct Billing Application |
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| Began service Q1 2018 |
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| Leading Global Tourism Retailer Chooses Pareteum to Power Its Brand in Recurring 3-Year Seven-Figure Contract |
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| Global Travel MVNO in ten different countries |
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| Began service Q4 2017 |
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| Pareteum Awarded 3-Year $1,000,000 Contract to Provide Mobile Virtual Network Enablement for IoT Connectivity in the Middle East |
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| IoT connectivity for connected home applications |
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| Began service April 2018 |
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| Leading European Mobile Reseller Selects Pareteum to Convert Customers to Its Own MVNO Brand in $3,500,000 Contract |
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| Large established European on-line retailer |
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| Began service April 2018 |
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| Pareteum Awarded Contract From China-Focused MVNO in First Sales Resulting from Strategic Alliance & Teaming Agreement with Artilium |
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| China based MVNO |
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| Began service Q3 2017 |
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| Pareteum Wins Global Internet of Things (IoT) Contract for Its Cloud Services |
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| Enterprise Application Developer |
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| Began service Q4 2017 |
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| Pareteum Awarded $3 Million Contract to Add Mobility to Established South American Data Network Provider |
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| Began deployment and contribution to revenue in Q4 2017 |
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| TEUM Application Exchange Developers Platform Customers |
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| Pareteum Extends Global Mobility Cloud Platform to Include IoT and Messaging |
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| Satellite Mobile MVNO |
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| Began revenue Q2 2017 |
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| Pareteum Awarded 3-Year Contract to Mobile Enable a Rapidly Expanding Internet of Things Provider |
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| West Coast IoT API Developer |
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| Began Services Q1 2018 |
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| Digital Brand Management Company Selects Pareteum to Deliver Subscriber Messaging and Marketing Content |
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| Global Call Center Management Company |
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| Began revenue Q4 2017 |
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Hal Turner, Executive Chairman and Principal Executive Officer at Pareteum commented, "We are a mission driven business and we hear positive feedback from our Shareholders, thanking us for our 'transparency.' Our ambition is to deliver a single solution to make it simple for our customers to grow and integrate the latest technologies without having to think about building them. We remain ahead of our targeted 36-month Contractual Revenue Backlog conversion. Pareteum is expecting positive EBITDA from continuing operations for the full year."
About Pareteum:
The mission of Pareteum Corporation (NYSE American: TEUM) is to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through cloud communication services and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our platform services partners (technologies integrated into our cloud) include: HPE, IBM, Sonus, Oracle, Microsoft, and other world class technology providers). All of the relevant customer acquired value is derived from Pareteum's award winning software, developed and enhanced for many years. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain and the Netherlands. For more information please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Pareteum's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Pareteum's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Pareteum may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Pareteum also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested in Pareteum's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from Pareteum Corporation.
Contractual Revenue Backlog Definition:
Contractual revenue backlog is measured on a forward looking 36 month snapshot view monthly, and, is generated by each of the Company's Managed Services, Global Mobility Cloud, and Application Exchange & Developer's Platform customers. The Pareteum multi-year Software-as-a-Service agreements include service establishment and implementation fees, guaranteed minimum monthly recurring fees, as well as contractually scheduled subscribers, in some cases including subscriber usage, during the term of the agreement, and, their resulting monthly recurring revenue. There can be no assurances that we reach the total revenue backlog. The revenue backlog assumes timing of revenue recognition that may vary from actual results.
Pareteum Investor Relations Contacts:
Ted O'Donnell
Chief Financial Officer
(212) 984-1096
[email protected]
Hayden IR
(917) 658-7878
SOURCE Pareteum Corporation
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