Quepasa Adjusted EBITDA Positive in First Post-Merger Quarter Record Revenues of $10.8 Million

Quepasa Corporation QPSA today announced select preliminary unaudited financial results for the quarter ended March 31, 2012, which is the first full quarter following the closing of its merger with Insider Guides, Inc. (d/b/a myYearbook) in November of 2011. For the quarter, Quepasa expects to report revenues of $10.8 million and positive adjusted EBITDA, a non-GAAP financial measure, of $673,000 compared to a loss to common shareholders of approximately $1.9 million. This reflects a 382% growth in revenue over the same period one year ago. The company plans to report final results for the 2012 first quarter on May 3, 2012 after the market close.