Visitors Now:
Total Visits:
Total Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

$TAPM News – Tapinator Releases Q3 2016 Results – Revenues Increase 49% Year-Over-Year to $1,083,000

Monday, November 14, 2016 6:25
% of readers think this story is Fact. Add your two cents.

(Before It's News)

FinancialNewsMedia.com News Alert: NEW YORK, – (http://www.financialnewsmedia.com News Alert) – Tapinator, Inc. (OTC: TAPM), a publisher of mobile games on the iOS, Google Play and Amazon platforms, today announced financial results and the filing of its quarterly report for the period ended September 30, 2016. The quarterly report and unaudited financial statements may be found at http://www.otcmarkets.com/stock/TAPM/filings.

“Tapinator demonstrated strong growth in the third quarter of 2016,” stated Tapinator CEO, Ilya Nikolayev. “Driven by more than 21 million average monthly active users, our third quarter revenues grew 49% year-over-year to approximately $1,083,000, representing our ninth consecutive quarter of at least double-digit year-over-year revenue growth. Our revenue expansion can be attributed primarily to the broadening of our Rapid-Launch Games portfolio and, within our Full-Featured Games division, to the late Q2 launch of Combo Quest 2 on iOS and the continued growth of our Video Poker Classic title across all major mobile platforms. In addition to our strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA (a non-GAAP earnings measure) of approximately $277,000 in the third quarter of 2016, an increase of 276% year-over-year, and our tenth consecutive quarter of positive adjusted EBITDA.

We were very pleased with our third quarter results as we saw significant year-over-year growth in player engagement, revenue and adjusted EBITDA, combined with increased diversification of our revenue base. However, within our Rapid-Launch business, new player downloads on the Google Play platform slowed, beginning midway through the third quarter, causing us to take a more cautious outlook toward our upcoming fourth quarter performance as more fully described in our Forward Guidance below.” Read this and more news for TAPM at http://financialnewsmedia.com/profiles/tapm.html

Financial Highlights

– Quarterly revenues of $1,083,176; up 49% year-over-year

– Nine-month year-to-date revenues of $2,994,262; up 71% year-over-year

– Quarterly adjusted EBITDA* (a non-GAAP measure) of $277,869; up 276% year-over-year

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.