FOUNTAIN VALLEY, Calif., Nov. 16, 2012 (GLOBE NEWSWIRE) -- MEDL Mobile, Inc. (OTCBB:MEDL) ("MEDL" or the "Company") - a pioneer in the creation, development, marketing and monetization of mobile apps - announced its financial results for the third quarter ended September 30, 2012.
Third Quarter Highlights:
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Revenues increased 58.6% to $1.1 million in Q3 2012, compared with $0.7 million in the year-ago period.
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On a quarter-on-quarter basis, revenues increased 151.5% in Q3 2012 from Q2 2012.
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Total Installations of the MEDL API (MEDL Brain/Analytics/Advertising Platform) increased to 2,472,798 as of Q3 2012 from 132,471 as of Q3 2011 - an increase of more than 1,766%. Overall API installs also increased Q2 2012 to Q3 2012 by 1,495,846 or 153%.
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Monthly Active Users (MAUs) of apps in MEDL's library increased to an average of 1,587,548 in Q3 2012 from an average of 56,277 in Q3 2011 - an increase of 2,720%. Q3 2012 also gained over Q2 of 2012 by 1,145,312 or 259%.
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Daily Active Users (DAUs) of apps in MEDL's library increased to an average of 75,102 in Q3 2012 from an average of 3,854 in Q2 2011 - an increase of more than 1,848%. Daily Active Users also saw a large gain from Q2 2012 to Q3 2012 with an increase of 40,129 users (122%).
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Total User Sessions of apps in MEDL's library increased to 12,701,182 for Q3 2012 from 623,418 for Q3 2011 - an increase of more than 1,937%. Overall sessions also increased Q2 2012 to Q3 2012 by 8,451,368 or 199%.
- MEDL ad network secured key strategic partnerships with 25 new advertisers, including Hotels.com, Priceline, Kabam and TinyCo.
"We continue to see increasing demand for mobile app development and our pipeline continues to grow from third parties seeking to monetize their intellectual property, persona or brand," said Andrew Maltin, co-founder and CEO of MEDL. "This significant growth in demand is up against a limited supply of qualified developers, placing MEDL in an advantageous position to capitalize on attractive market dynamics."
"The mobile revolution is still in an early stage," added Mr. Maltin. "As the market continues to expand and evolve, we are creating and growing new revenue streams such as advertising and app recommendation which we believe will drive strong shareholder value in the quarters ahead."
About MEDL Mobile
The Company develops, acquires and publishes a growing library of mobile applications which perform specific functions for the user on the Apple and Android platforms. The Company licenses its technology and performs custom development for key clients such as Monster.com, New York Times Company, Teleflora, Telefonica and Medtronic, allowing the company to grow the overall library of technology and greatly extending the potential reach of the Mobile Brain. The Company enters into partnerships to mobilize and monetize IP with such notable names as Encyclopedia Britannica, MTV's Pauly D, Cheech & Chong, Rampage Jackson and Marlee Matlin. The Company is establishing a business model in which it expects to generate multiple revenue streams, including development fees, download and in-app purchases, advertising, sponsorship and licensing of technology. User analytics are collected by the Company's growing Mobile Brain, which processes user data in order to create better distribution and monetization of mobile applications. The Company's Software Development Kit (SDK) consists of a growing suite of tools which have been designed to help developers to better market and monetize their mobile applications. For more information about MEDL Mobile, please visit www.medlmobile.com.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about MEDL Mobile'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 the Company 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. Potential risks and uncertainties include but are not limited to the ability to integrate Inedible Software apps and platform into MEDL's product offering, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company 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. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
For more information about MEDL Mobile, please visit http://www.medlmobile.com