Tapinator Inc (OTCMKTS:TAPM) reported that the revenue for the period ending June 30, 2015 jumped 49% sequentially to $615,000. Ilya Nikolayev, the CEO said that the company showed noteworthy business expansion in 2Q2015.The revenue in quarter jumped 172% YOY and 49% QOQ, representing the fifth quarter in a row of double digit sequential sales growth.
The management speaks
The CEO of Tapinator further added that the revenue expansion was largely a result of broadening of Tapinator’s rapid-launch games portfolio and targeted investments into selective full-featured titles. These titles have immense long-term franchise potential. Moreover, the company reported strong adjusted EBITDA of $187,591 in 2Q2015, a jump of 1,390% YOY and 68% sequentially.
Tapinator team is delighted with the achievements recorded in 2Q2015, especially in terms of overall financial performance, product quality and user traction. Also, the title ‘Burn It Down’ was selected as a ‘Best New Game’ and was listed in ‘Top 50’ game on iOS. It even scored a place in ‘Top 5’ within both the Puzzle and Adventure categories.
The highlights
Tapinator launched the first product under the Social Casino group, Video Poker VIP, in 2Q2015. The management is enthused by initial monetization, user feedback and player retention metrics of the game. They consider this category and game vital to company’s future growth strategy. In the report, the company highlighted that they obtained $2 million in growth funds through a financial transaction from an investment fund. This financing improved the liquidity and helped to pay off the previously outstanding debt.
Tapinator Inc (OTCMKTS:TAPM) completed its first audit process as a publicly listed firm for the period from inception through December 31, 2014. It was given a “clean” opinion on submitted financial statements. In last trading session, the stock price of Tapinator declined more than 4% to close the trading session at $0.450. The decline came at a share volume of 337,777 compared to average monthly share volume of 174,041.
