Tapinator posts $1.4m in revenue for Q2, a 2% fall
The company experienced decline during the quarter in multiple areas.
Tapinator has published its quarterly report for the period ending June 30. The mobile platform and games developer generated close to $1.4m in revenue for the second quarter.
Overall revenue fell by 2% year-over-year. Bookings during Q2 decreased by 12% when compared to the previous year’s corresponding period, totaling $1.3m at the end of the quarter.
The company posted a net loss of $77,000, along with a basic and fully diluted net loss of $0.03 per share.
Adjusted EBITDA was $292,000 in Q2, reflecting a 22% decrease year-over-year.
Tapinator CEO Ilya Nikolayev said its results for the second quarter reflected “industry-wide slowdowns,” but the company is looking ahead to develop a long-term growth strategy.
Nikolayev commented: “Our results this quarter, in both our mobile gaming and NFT collection and publishing businesses were negatively impacted by macroeconomic headwinds and industry-wide slowdowns as compared to the significant growth experienced during the pandemic era.
“During this past quarter, we also embarked upon a longer-term strategy of increasing our investment in-game marketing, a strategy we believe to be important for resuming overall growth in future quarters.”
Nikolayev went on to add that the company is also focused on developing and releasing new game titles.
“On the mobile gaming side, we continue to have multi-year conviction regarding our key franchise games, including Video Poker Classic, Crypto Trillionaire, Keno Vegas and Lucky Lotto, and are actively continuing to develop these titles,” Nikolayev said.
Tapinator develops and publishes category games for mobile platforms, as well as collects and publishes fine art NFTs.
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