Tapinator develops and publishes category-leading games for mobile platforms. The Revolution subsidiary invests in cryptocurrencies
In the first quarter of 2021, Tapinator generated revenue of approximately $ 1.2 million, record bookings * of approximately $ 1.3 million, record earnings of approximately $ 237,000, and an adjusted EBITDA of approximately $ 200,000.
The company’s quarterly revenue, bookings, and Adjusted EBITDA represent improvements of 33%, 37% and 121%, respectively, over the prior year. The company also announced basic and fully diluted earnings per share of $ 0.43 and $ 0.40 per share, respectively.
Ilya Nikolayev, CEO of Tapinator commented: “We are very satisfied with our performance in the first quarter. First, our focus on further optimizing and building on top of Video Poker Classic is showing great results in relation to existing games. In the first quarter, we introduced new in-app purchases, notifications, events, and more. We believe that through incremental improvements, Video Poker Classic will continue to grow, in addition to a game that is currently the best video poker title for mobile in the industry right now. We’re under development on NFT500, our recently announced NFT art collection and casting platform. We believe that one important direction for NFT market in the future will be focused on utility. In other words, the question: what can we do with NFTs if we don’t just live in a crypto wallet? We believe casting will be an important part of the answer to that question and look forward to bringing our innovative casting platform NFT500 to market next summer. “
Tapaintor sees a strong belief in its mobile games business and in particular in the Leading Games category. Investments in the Revolution Blockchain subsidiary are more speculative, but they believe the company has long-term opportunities in the emerging market for crypto media and entertainment software. Another year is expected with strong company-wide sales and booking growth and an adjusted EBITDA margin of at least 15%. Tapinator also expects a positive net result for the 2021 financial year.