Tapinator, Inc. Revises Preliminary Unaudited Earnings Guidance for the Year Ended December 31, 2016
January 30, 2017 at 10:51 pm EST
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Tapinator, Inc. revised preliminary unaudited earnings guidance for the year ended December 31, 2016. These results replace the preliminary results provided by the company on January 5, 2017, and are subject to further year-end adjustments that may occur during the completion of its annual year-end audit. Based on the information now available for the year ended December 2016, Tapinator expects revenue of approximately $3.7 million, which corresponds to achieving 52% annual revenue growth against the comparable figures for 2015. The company expects to report an operating loss of approximately $12,000 for the year ended December 2016, which compares favorably to an operating loss of approximately $900,000 for the comparable 2015 period. The company expects to report net loss of approximately $2.3 million compared to net loss of approximately $1.9 million for the comparable 2015 period. The expected net loss for 2016 includes approximately $2.1 in non-cash charges related to the July 2016 refinancing of the company's senior secured convertible debenture. The company expects to report adjusted EBITDA of approximately $870,000 for the year ended December 2016, which corresponds to achieving approximately 66% annual adjusted EBITDA growth versus the comparable figures for 2015.
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.