Company Also Provides Update on Major 2016 Game Launches
New York, NY – June 20, 2016 – Tapinator, Inc. (OTC: TAPM), a leading emerging growth company within the mobile gaming industry, is pleased to announce that it is raising its previously issued financial guidance for 2016, based on strong performance of its core mobile gaming business during the first half of this year. Tapinator now expects to achieve revenue in the range of $4.0 million - $4.5 million in 2016, up from previous revenue guidance of $3.7 million - $4.3 million for the year, representing an annualized organic revenue growth rate range of 63%-84%. The Company continues to expect near break-even results at the operating income level, and is now targeting an Adjusted EBITDA (a non-GAAP measure) percentage of 24% for 2016, up from previously issued guidance of 22%. Assuming, the Company achieves break-even results at the operating income level, the Company continues to expect net losses in 2016 of approximately $1.6 million, primarily as a result of financing related charges associated with the Company’s $2.0 million convertible debenture financing completed during 2015, including $1.5 million in expected non-cash charges.
Tapinator is also pleased to provide the following timing update for some of its most significant 2016 Full Featured game launches:
- Combo Quest 2 – June 30th, 2016
- Big Sport Fishing 2016 – August, 2016
- Rocky – Q4, 2016 (specific timing will be provided closer to release date)
The Company will also soon provide an update on its emerging social casino games portfolio, including recent game performance and launch highlights.
Finally, the Company’s CEO, Ilya Nikolayev, recently provided an interview to Stockhouse.com which provides a summary overview of Tapinator’s history, business model, recent performance milestones, and investment highlights. The interview is available for viewing here.
About Tapinator
Tapinator (OTC: TAPM) designs, develops, and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator's portfolio includes more than 200 mobile gaming titles that have achieved over 200 million cumulative player downloads, primarily within the Simulation, Arcade, Role Playing, Casino and Sports genres. Tapinator generates revenues through the sale of advertising within its games, the sale of paid downloadable games, and the sale of additional in-game content. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Germany, Canada, Indonesia, Pakistan, and the United States. For a full listing of Tapinator game titles and to view the Company’s most recent investor presentation, please go to http://tapinator.com/.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Our statements regarding our financial outlook for the full fiscal year 2016 contained in this press release are forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.
CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com