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NEW YORK, March 11, 2022 /PRNewswire/ — Tapinator, Inc. (OTC:TAPM) (“Tapinator,” the “Company,” “we,” “our” or “us”)a developer and publisher of category leading games for mobile platforms and a collector and publisher of fine art NFTs, today announced unaudited financial results for the period ended December 31, 2021and the filing of its annual report for the years ended December 31, 2021 and 2020.
The annual report and financial statements have been published on OTC Markets and may be found at http://www.otcmarkets.com/stock/TAPM/disclosure. The results provided below replace, in their entirety, any guidance or projections previously issued by the Company.
For the year ended December 31, 2021Tapinator achieved record revenue of approximately $5.8 millionrecord bookings* of approximately $6.7 millionrecord net income of approximately $666,000 and record adjusted EBITDA* of approximately $1.6 million. The Company’s annual revenue, bookings*and adjusted EBITDA* represent year-over-year improvements of 31%, 53% and 60%, respectively. For the full year, the Company also announced record basic and fully diluted net income per share of $1.19 and $1.13 per share, respectively.
For the three months ended December 31, 2021Tapinator achieved record revenue of approximately $1.7 millionrecord bookings* of approximately $2.2 millionnet loss of approximately ($316,000) and record adjusted EBITDA* of approximately $590,000. The Company’s quarterly revenue, bookings and adjusted EBITDA* represent year-over-year improvements of 39%, 108%, and 76%, respectively. For the quarter, the Company also announced basic and fully diluted net loss per share of ($0.56) per share.
*A table has been included in this press release with non-GAAP adjustments to the Company’s revenue resulting in bookings (a non-GAAP measure) and non-GAAP adjustments to the Company’s net loss, resulting in adjusted EBITDA (a non-GAAP measure) for the relevant periods.
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Financial Highlights |
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Quarter Ended |
Year Ended |
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December 31 |
December 31 |
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2021 |
2020 |
% Ch. |
2021 |
2020 |
% Ch. |
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GAAP Results: |
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Revenue |
$1,678,800 |
$1,210,510 |
39% |
$5,840,124 |
$4,454,940 |
31% |
|
|
Operating Income (Loss) |
$176,921 |
($245,786) |
NM(1) |
$884,620 |
($345,467) |
NM(1) |
|
|
Net Income (Loss) |
($316,203) |
($416,411) |
NM(1) |
$665,580 |
($547,499) |
NM(1) |
|
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Net Income (Loss) margin % |
-19% |
-34% |
11% |
-12% |
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Net Income (Loss) Per Share – Basic |
($0.56) |
($0.76) |
-26% |
$1.19 |
($0.99) |
NM(1) |
|
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Net Income (Loss) Per Share – Diluted |
($0.56) |
($0.76) |
-26% |
$1.13 |
($0.99) |
NM(1) |
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Weighted avg. common shares outstanding – basic |
564,962 |
551,005 |
560,288 |
550,979 |
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Weighted avg. common shares outstanding – diluted |
564,962 |
551,005 |
587,385 |
550,979 |
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Non-GAAP Results: |
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Bookings: |
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Category Leading Games |
$1,356,357 |
$880,655 |
54% |
$4,874,534 |
$3,457,568 |
41% |
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Rapid-Launch Games |
$139,539 |
$177,435 |
-twenty one% |
$683,640 |
$932,554 |
-27% |
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NFT Publishing |
$707,393 |
$0 |
NM(1) |
$1,158,005 |
$0 |
NM(1) |
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Total Bookings |
$2,203,289 |
$1,058,090 |
108% |
$6,716,179 |
$4,390,122 |
53% |
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Full story available on Benzinga.com
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