$TAPM News - Tapinator Announces Updated Preliminary 2016 Results

NEW YORK, - (http://www.financialnewsmedia.com News Alert) - Expected Revenue Growth of 52% to $3.7mm; Expected Adjusted EBITDA Growth of 66% to $870,000 - Tapinator, Inc. (OTC: TAPM), a leading mobile game publisher, is announcing updated preliminary, unaudited summary results for the year ended December 31, 2016. These results replace the preliminary results provided by the Company on January 5, 2017, and are subject to further year-end adjustments that may occur during the completion of its annual year-end audit. Based on the information now available for the year ended December 2016, Tapinator expects revenue of approximately $3.7 million, which corresponds to achieving 52% annual revenue growth versus the comparable figures for 2015, and expects bookings (a non-GAAP measure) of $3.8 million, which corresponds to achieving 56% annual bookings growth versus the comparable figures for 2015. The Company expects to report an operating loss of approximately $12,000 for the year ended December 2016, which compares favorably to an operating loss of approximately $900,000 for the comparable 2015 period. The Company expects to report a net loss of approximately $2.3 million for the twelve-month period ended December 2016 which compares to a net loss of approximately $1.9 million for the comparable 2015 period. The expected net loss for 2016 includes approximately $2.1 in non-cash charges related to the July 2016 refinancing of the Company\'s Senior Secured Convertible Debenture. The Company expects to report adjusted EBITDA (a non-GAAP measure), of approximately $870,000 for the year ended December 2016, which corresponds to achieving approximately 66% annual adjusted EBITDA growth versus the comparable figures for 2015.



The Company plans to release an annual shareholder letter in February 2017 and its complete audited 2016 results in March of 2017. Tapinator CEO Ilya Nikolayev commented, \"2016 was another record year for Tapinator, both in terms of revenue and adjusted EBITDA growth. While we are still early in our development, we are grateful to our employees, shareholders and commercial partners for enabling the success that we have achieved thus far. We look forward to communicating our 2016 accomplishments in greater detail, and to providing our strategic priorities for continued growth in 2017 in our upcoming annual shareholder letter.\" Read this and more news...