After its massive acquisition of Skout earlier this year, MeetMe has posted another fantastic set of financial results.
In its Q2 results, MeetMe reported a 48% increase in total revenue year over year, which hit $16.4m.
Last quarter, total revenue was at $13.3m.
This big hike was driven by an 82% increase in mobile revenue year over year, which rose to $15.1m, up from $11.7m in Q1.
In terms of Adjusted EBITDA, this increased by 109% year over year to $6m.
And after the financials were announced, MeetMe shares jumped as much as 16.5%.
With regards to user growth, MeetMe CEO Geoff Cook said the company’s number of DAUs has grown by 15% to 1.22m compared to last year, with MAUs increasing 32% to 4.48m.
And the CEO said the company’s financial success was thanks to its “continued growth” in mobile user engagement.
In June, the Pennsylvania-based company announced it was acquiring Skout for $55m.
MeetMe said it expects the move to increase both its user base and revenue — estimating its 2016 revenue could hit between $70.5m and $73.5m, compared to $56.9m in 2015.
The deal is expected to close this October.
Giving more insight into MeetMe’s Q2 results, Cook said: “During the quarter, we launched Discuss, our interest-based group conversation platform, which we believe is helping drive increased user engagement.
“In fact, last week we achieved a new mobile DAU record surpassing 1.37 million daily active users for the first time and reached a new record of 32.2 million chats in a single day.”
Read more about the Skout acquisition here.