A Pareteum Internet of Things (IoT) Applications Provider Customer Commences Revenue Production
Integrated Mobile Services on Demand
Expected to Contribute to First Quarter 2018 Revenue
NEW YORK, NEW YORK, January 5, 2018 – Pareteum Corporation (NYSE American: TEUM), the rapidly growing Cloud Communications Platform company, today announced it has activated service to one of its Application Provider IoT customers, which was previously announced as new customer on October 11, 2017.
This deployment signals planned revenue in the first quarter of 2018, ahead of schedule, and reinforces the efficiency of Pareteum’s Global Cloud Platform (GCP). Pareteum’s GCP enables its customer’s subscribers, including members of their widely growing Application Programming Interface (API) Developer Community, to add mobility services directly to their Banking, Social Media, Call Centers, consumer facing applications, and App Store Products.
“Our move to the cloud has allowed us to fundamentally change use cases and opportunities not only for our company but for our customers,” stated Vic Bozzo Pareteum’s CEO. “The growing Pareteum development community is seeing the ability to incorporate mobility into their applications for the first time in a self-service model by directly connecting to our API without having to wait for the long cycles of provisioning to the network, which ultimately means recognizing revenue faster.”
“The digital economy, and its monetization is being driven by application developers, creating an API economy. Pareteum, as an integral part of the Digital and API Economy ecosystem, is poised to support geometric growth for these companies with our securely offered Blockchain solutions, as part of our Global Cloud services. Being connected and working wirelessly in an untethered fashion is the mobility driver for the world’s population. Pareteum brings seamless transition among devices, networks and applications, with flawless peer to peer metering, charging, billing and settlements. It is the power of our mobile payments, Blockchain, and Cryptocurrency driven capabilities, offered to the application development community, that will unleash their growth and business transacted with Pareteum,” stated Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum.
About Pareteum Corporation
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. 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 Contact:
Chief Financial Officer