Tapinator, Inc. reported earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of $733,673 against $620,096 a year ago. Net loss was $557,052 or $0.01 per share diluted against $1,862,119 or $0.03 per share diluted a year ago. Adjusted EBITDA was $10,183 against adjusted LBITDA of $37,823 a year ago. The increase in revenue is attributable primarily to an increase in Consumer App Store Transactions, driven from within both Full-Featured Games and Rapid-Launch Games, which was partially offset by a decrease in Advertising revenue, driven by declines from within Rapid-Launch Games. The increase in operating loss was primarily attributable to $419,766 in non-cash, stock based compensation expense incurred for the comparable period. The company incurred an operating loss of $553,984, as compared to an operating loss of $267,378 for the comparable three-month period in 2017. The increase in operating loss was primarily attributable to $419,766 in non-cash, stock based compensation expense incurred for the comparable period.

For the six months, the company reported revenue of $1,622,361 against $1,432,890 a year ago. Net loss was $1,472,932 or $0.02 per share diluted against $2,416,376 or $0.04 per share diluted a year ago. Adjusted EBITDA was $170,297 against $3,516 a year ago. The net loss decrease was primarily attributable to $1.59 million of non-cash charges related to debt discount amortization, interest expense and loss on debt extinguishment recorded in the prior period. For the six-month period ended June 30, 2018, the Company incurred an operating loss of $1,146,655, as compared to an operating loss of $445,717 for the comparable six-month period in 2017.  The increase in operating loss was primarily attributable to $1,040,182 in non-cash, stock based compensation expense incurred for the comparable periods.
For the year, the company expects revenue of $3,300,000 to $3,600,000. Net loss of range between $2,850,000 to $2,650,000. Adjusted EBITDA of range between $200,000 to $400,000.