Tapinator, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Revised Earnings Guidance for the Full Year 2008
November 13, 2018 at 09:57 am EST
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Tapinator, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the third quarter, the company announced revenue of $681,337 against $849,787 a year ago. Net loss was $607,999 against $506,511 a year ago. Basic and diluted loss per share was $0.01 against $0.01 a year ago. Adjusted EBITDA was negative $26,273 against adjusted EBITDA of $123,566 a year ago.
For the nine months, the company announced revenue of $2,303,698 against $2,282,677 a year ago. Net loss was $2,080,931 against $2,922,885 a year ago. Basic and diluted loss per share was $0.02 against $0.05 a year ago. Adjusted EBITDA was $144,025 against $127,081 a year ago.
Primarily as a result of the recent accelerated weakening in Rapid-Launch Games and to a lesser extent due to certain Full-Featured product launch delays, both the company are lowering previously issued full-year revenue, net income and adjusted EBITDA guidance for 2018. For the year 2018, the company now expects revenue of $2,800,000 to $3,000,000 compared to previous guidance or $3,300,000 to $3,600,000. Net loss will be in the range of $3,000,000 to $3,200,000 compared to previous guidance of $2,650,000 to $2,850,000. Adjusted EBITDA will be in the range of $90,000 to $120,000 compared to previous guidance or $200,000 to $400,000.
Tapinator, Inc. develops and publishes games for mobile platforms. The Companyâs portfolio includes over 300 titles that have over 500 million mobile downloads, including games such as Video Poker Classic and Crypto Trillionaire. It publishes two types of mobile games: Category Leading Games and Rapid-Launch Games. The Company operates NFT500, a digital art collection platform consisting of blue-chip fine art non-fungible tokens (NFTs), consists of approximately 525 fine art NFTs from more than 150 prominent NFT artists, such as Tyler Hobbs, Bored Ape Yacht Club, XCOPY, Helena Sarin, Pindar Van Arman, Monica Rizzolli, Refik Anadol, Manolo Gamboa Naon, Kevin Abosch, Zach Lieberman, Pak, Anne Spalter, Snofro, Hackatao, Bruce Gilden, Justin Aversano, Claire Silver, Zancan, Matt Deslauriers, Dmitri Cherniak, Nick Kuder and Damien Hirst. The Company's Rapid-Launch Games are published primarily under its Tap2Play brand. Its subsidiaries include Tapinator, LLC and Tap2Play, LLC.
Tapinator, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Revised Earnings Guidance for the Full Year 2008