"We are gratified to see the value of our products recognized by Seattle businesses as Seattle is widely recognized as one of the most technology savvy markets in the country," said Jeff Thompson, President and Chief Executive Officer of Towerstream. "Our continued progress demonstrates the leverage of our business model and the predictability of our revenue stream."

"Seattle reached EBITDA profitability due to both a steady increase in revenues and lower operating costs, primarily related to headcount reductions announced in June," stated Joseph Hernon, Chief Financial Officer of Towerstream. "It is important to note that EBITDA profitability and Market Cash Flow are not recognized measures under generally accepted accounting principles. We utilize these metrics to measure the operational performance of our markets, and their respective ability to contribute cash flow to support centralized operating and corporate overhead costs."

Key Operating Metrics and Non-GAAP Financial Measures

The terms "EBITDA" and "Market Cash Flow" are measurements used by Towerstream to monitor business performance and are not recognized measures under generally accepted accounting principles, or "GAAP." Accordingly, investors are cautioned in using or relying upon these measures as alternatives to recognized GAAP measures. Towerstream's method of calculating these measures may differ from other companies and, accordingly, may not be comparable to similar measures presented by other companies. The term "EBITDA" refers to earnings before interest expense, interest income, income taxes, depreciation, amortization and stock-based compensation. "Market Cash Flow" represents the amount of cash generated in a market after deducting a market's direct operating expenses from that market's revenues. Market Cash Flow does not include (i) centralized operating costs which support all markets collectively or (ii) any network related capital expenditures incurred in a market.

Towerstream Service Options

Towerstream offers a variety of bandwidth options from T-1 to 1000 Mbps as well as service reliability backed by an industry-leading Service Level Agreement (SLA) and a no-risk, money-back guarantee. Towerstream's fixed wireless broadband network delivers high-speed Internet access supporting VoIP, bandwidth on demand, wireless redundancy, VPNs, disaster recovery, bundled data and video services.