Tapinator says Q2, H1 results set several records
Company plans launch of new social casino title in Q4.
Tapinator, Inc., a developer and publisher of games for mobile platforms, on Tuesday released unaudited financial results for the three and six months ending June 30.
The company noted it filed its quarterly report for the period ending June 30.
During the second quarter of this year, Tapinator said it achieved record revenue of approximately $1.4m, record bookings of approximately $1.4m, net income of approximately $216,000 and record adjusted EBITDA of approximately $374,000.
The company said its quarterly revenue, bookings, net income and adjusted EBITDA represent year-over-year improvements of 21%, 13%, 239% and 20%, respectively.
Tapinator said its basic and fully diluted net income per share was $0.38 and $0.37 per share, respectively.
For the six months ending June 30, Tapinator achieved what it said was record revenue of approximately $2.6m, record bookings of approximately $2.8m, record net income of approximately $453,000 and record adjusted EBITDA of approximately $574,000.
The company said its first half revenue, bookingsand adjusted EBITDA achieved year-over-year improvements of 26%, 23% and 42%, respectively.
For the first half, the company’s basic and fully diluted net income per share was a record $0.82 and $0.80 per share, respectively.
“We are extremely happy with our record performance in Q2,” Ilya Nikolayev, CEO of Tapinator, said in a statement. “As we have previously noted, we are proud of the quality, feature set and overall performance of Video Poker Classic (VPC). We continue to incrementally improve the game, and, in Q2, we launched a new Unlocks / Avatar feature, added more special events to the game and optimized the experience for our paying players.”
Nikolayev added the company believes the foundation it has built out for VPC, including various reengagement and monetization systems, now is ready to be leveraged for a second social casino product.
“We are currently in design/development of a social casino game that is being built on top of the framework created for VPC,” he explained. “We believe this approach for building this title will result in a shorter development timeline and a very high quality product, which will translate into strong engagement and monetization metrics.”
Also in Q2, Tapinator launched its newest idle game, Idle Industries, globally. According to Nikolayev, the game was well-received by both players, who rated it an average of 4.7 out of 5.0 stars, and Apple, which featured the title in the United States, Germany, France the UK and several other countries.
“We have since gone live with five updates to the product, through which we have launched significant features such as Special Events as well as made various optimizations,” Nikolayev said, adding in the coming weeks the company will roll out version 1.3 of the game, which includes a number of significant enhancements.
Andrew Merkatz, president of Tapinator, said the company initiated product development on a new social casino title slated to launch in Q4 of this year.
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