Provides Update on MoviePass Inc. and MoviePass
Films Business
Helios and Matheson Analytics Inc. (Nasdaq: HMNY) (“Helios”), a
provider of information technology services and solutions and the
92% owner of MoviePass Inc. (“MoviePass”), the nation’s premier
movie-theater subscription service, today announced financial
results for the third quarter ended September 30, 2018.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20181115005542/en/
Average monthly usage per subscriber was
dramatically reduced to .77 movies per month in September 2018, as
compared to 2.22 movies per month in April 2018 (Graphic: Business
Wire)
“During this transitional period for Helios and MoviePass, we
have been focused on reducing our burn rate and striving to improve
our business model and we are very encouraged by our Q3 financial
results,” said Ted Farnsworth, Chairman and CEO of Helios.
Helios Highlights for the third quarter ended September 30,
2018, include the following:
- Helios diluted net loss per share is
$.20 per share compared to a loss of $5.79 per share for the same
period a year ago.
- The ATM offering has terminated and, as
a result, Helios is no longer using an ATM offering to raise
capital and has not used the ATM since August 27, 2018.
- As of October 4, 2018, the June 2018
convertible notes aggregating $164.0 million have been fully
extinguished.
Subscription and Marketing and Promotional Services, and
Films operating segment (collectively the “MoviePass Segment”)
Highlights for the third quarter ended September 30, 2018, include
the following:
- MoviePass Segment revenues increased
$7.2 million, or 9.8%, from $73.3 million to $80.5 million, in the
quarter ended September 30, 2018 as compared to the prior quarter
ended June 30, 2018. The increase is primarily driven by MoviePass,
which generated $79.9 million during the quarter ended September
30, 2018 as compared to $72.8 million during the prior quarter
ended June 30, 2018, an increase of $7.1 million, or 9.8%.
- MoviePass Segment gross margin improved
$76.2 million, or 72.8%, from a loss of $104.7 million to a loss of
$28.5 million, in the quarter ended September 30, 2018 as compared
to the prior quarter ended June 30, 2018, driven primarily by
MoviePass, whose gross margin improved by $75.5 million, or
70.6%.
- Average monthly usage per subscriber
was dramatically reduced to .77 movies per month in September 2018,
as compared to 2.22 movies per month in April 2018 (see
graphic).
MoviePass Films and MoviePass Ventures have acquired stakes
in the following films:
- Monsters and Men
- Border
- The Row
- 10 Minutes Gone
- American Animals
- Gotti
The information in this press release should be read in
conjunction with Helios’ Quarterly Report on Form 10-Q for the
quarter ended September 30, 2018 and is qualified in its entirety
by reference to such Quarterly Report. Investors are urged to
review such Quarterly Report at www.sec.gov.
About Helios and Matheson Analytics
Helios and Matheson Analytics Inc. (Nasdaq: HMNY) (“Helios”) is
a provider of information technology services and solutions,
offering a range of technology platforms focusing on big data,
artificial intelligence, business intelligence, social listening,
and consumer-centric technology. Helios currently owns
approximately 92% of the outstanding shares (excluding options and
warrants) of MoviePass Inc., the nation's premier movie-theater
subscription service, 100% of the outstanding membership interests
in MoviePass Ventures LLC and 51% of the outstanding membership
interests in MoviePass Films LLC. Helios's holdings include Zone
Technologies, Inc., creator of RedZone Map™, a safety and
navigation app for iOS and Android users, and a community-based
ecosystem that features a socially empowered safety map app that
enhances mobile GPS navigation using advanced proprietary
technology. Helios is headquartered in New York, NY and listed on
the Nasdaq Capital Market under the symbol HMNY. For more
information, visit us at www.hmny.com.
About MoviePass Films
MoviePass Films LLC is dedicated to supporting independent
filmmakers and distributors by collaborating with creatives,
co-acquiring equity stakes in films and offering them enhanced
performance in the theatrical window. A joint venture of Helios and
Matheson Analytics Inc. and Emmett Furla Oasis (EFO) Films,
MoviePass Films focuses on studio-driven content and new film
production for theatrical release and other distribution channels,
with the goal of democratizing the film production experience by
bridging the gap between moviegoers and film industry
endeavors.
About MoviePass Inc.
MoviePass Inc. ("MoviePass") is a marketing technology platform
enhancing the exploration of film and the moviegoing experience. As
the nation's premier movie-theater subscription service, MoviePass
provides film enthusiasts the ability to attend select new movies
in theaters. The service, now accepted at more than 91% of theaters
across the United States, is the nation's largest theater network.
Visit us at moviepass.com.
Cautionary Statement on Forward-looking Information
Certain statements in this communication contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 or under Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended (collectively, “forward-looking statements”) that
may not be based on historical fact, but instead relate to future
events, including without limitation statements containing the
words “believe”, “may”, “plan”, “will”, “estimate”, “continue”,
“anticipate”, “intend”, “expect”, “project” and similar
expressions. All statements other than statements of historical
fact included in this communication are forward-looking
statements.
Such forward-looking statements are based on numerous
assumptions. Although Helios’ management believes that the
assumptions made and expectations represented by such statements
are reasonable, there can be no assurance that a forward-looking
statement contained herein will prove to be accurate. Actual
results and developments (including, without limitation, the
ability of Helios to reduce its burn rate and improve its business
model) may differ significantly from those expressed or implied by
the forward-looking statements contained herein and even if such
actual results and developments are realized or substantially
realized, there can be no assurance that they will have the
expected consequences or effects. Risk factors include, among other
things: Helios’ capital requirements and whether or not it will be
able to raise capital as needed; the success of MoviePass’
cost-reduction and subscription revenue increase measures; the
ability to successfully develop the business model of MoviePass;
the ability to integrate the operations of MoviePass, MoviePass
Ventures, MoviePass Films, Moviefone and other acquired businesses
into Helios’ operation; MoviePass’ ability to retain its existing
subscribers and market and sell its services to new subscribers,
and the risk factors described in Helios’ Annual Report on Form
10-K for the fiscal year ended December 31, 2017, its quarterly
reports on Form 10-Q for the quarters ended June 30, 2018 and
September 30, 2018 and other filings, including subsequent current
and periodic reports, information statements and registration
statements filed with the U.S. Securities and Exchange Commission.
You are cautioned to review such reports and other filings at
www.sec.gov.
Given these risks, uncertainties and factors, you are cautioned
not to place undue reliance on such forward-looking statements and
information, which are qualified in their entirety by this
cautionary statement. All forward-looking statements and
information made herein are based on Helios’ current expectations
and Helios does not undertake an obligation to revise or update
such forward-looking statements and information to reflect
subsequent events or circumstances, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181115005542/en/
HMNY Contact:The Pollack PR Marketing GroupStephanie
Goldman/Mark Havenner,
310-556-4443sgoldman@ppmgcorp.com / mhavenner@ppmgcorp.com
MoviePass Contact:LaunchSquad for MoviePass Inc.Gavin Skillman,
212-564-3665
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