Tapinator develops and publishes category leading games for mobile platform. Its Revolution subsidiary invests in cryptocurrencies
During the first quarter of 2021, Tapinator achieved revenue of approximately $1.2 million, record bookings* of approximately $1.3 million, record net income of approximately $237,000, and adjusted EBITDA of approximately $200,000.
The Company’s quarterly revenue, bookings and adjusted EBITDA represent year-over-year improvements of 33%, 37% and 121%, respectively. The Company also announced record basic and fully diluted net income per share of $0.43 and $0.40 per share, respectively.
Ilya Nikolayev, CEO of Tapinator commented, “We are very happy with our performance in Q1. First, in terms of existing games, our focus on continuing to optimize and build on the foundation of Video Poker Classic is showing great results. In Q1, we introduced new in-app purchases, notifications, events, and much more. We believe that Video Poker Classic will continue to grow through incremental improvements on top of a game that is currently the best-in-class video poker title on mobile. We are in development on NFT500, our recently announced NFT art collection and casting platform. Our belief is that, in the future, a significant direction for the NFT market will center around utility. In other words, the question of: Beyond residing in a crypto wallet, what can we do with NFTs? We believe that casting will be a big part of the answer to this question and we look forward to launching our innovative casting platform, NFT500, this coming summer.”
Tapaintor sees strong conviction regarding its mobile games business and specifically its Category Leading Games. Its investments within its Revolution Blockchain subsidiary are more speculative, but they believe there are long term opportunities for the Company within the nascent market for crypto media and entertainment software. It anticipates delivering another year of strong company-wide revenue and bookings growth along with adjusted EBITDA margin of at least 15%. Tapinator also expect to deliver positive net earnings for the year ended 2021.
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