TEUM - Pareteum Corp. (TEUM) Celebrating Growth in Cloud-Based SaaS Market Ongoing Enhancement of Revenue and Performance
- Pareteum is building on sales and acquisition successes by joining the Russell 3000 Index, granting the company a higher investment profile
- Pareteum’s cloud platform and related services connect millions of people in dozens of countries over numerous networks, with most of the company’s revenues currently coming from Europe
- The SaaS market is expected to expand at a CAGR of 21.2 percent through 2023, and the overall cloud market is expected to grow by 17.3 percent this year, showcasing the rising demand for related products and services
- The company’s second quarter financial report, anticipated next month, is expected to show the company beating analysts’ forecasts for revenue and EBITDA
Communications cloud services provider Pareteum Corp. (NASDAQ: TEUM) established its chops as a growing software as a service (SaaS) enterprise when it joined the Russell 3000 Index earlier this month following the Russell U.S. Indexes’ annual reconstitution. The reconstitution captures the 4,000 largest U.S. stocks each year, and Russell indexes are actively consulted by investment managers and institutional investors. The indexes are used as benchmarks for active investment strategies, according to a news release about the company’s activities (http://nnw.fm/cjyD1).
“We are executing on our growth strategy and we believe inclusion in the index is a testament to the strong performance we have achieved,” Pareteum Chairman and CEO Hal Turner stated in a news release, adding that the...
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