$TAPM News - Tapinator Releases Third Quarter 2015 Financial Report Q3 Revenues of $728,000, an Increase of 191% Year-Over-Year

NEW YORK, - (http://www.financialnewsmedia.com News Alerts) - Tapinator, Inc. (OTC: TAPM), an emerging growth company within the mobile gaming industry, today announced financial results and the filing of its quarterly report for the period ended September 30, 2015. The complete report may be found at http://www.otcmarkets.com/stock/TAPM/filings.



\"Tapinator continued to show significant business expansion in the third quarter of 2015,\" stated Tapinator CEO, Ilya Nikolayev. \"Our quarterly revenues grew 191% year-over-year and 18% quarter-over-quarter, representing our sixth consecutive quarter of at least double-digit sequential revenue growth. Our revenue expansion can be attributed to both the continued broadening of our rapid-launch games portfolio, as well as our continued investment into a small number of full-featured titles that we believe have significant franchise potential. In addition to our very strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA of $73,914 in the third quarter of 2015, an increase of 65% year-over-year and our sixth consecutive quarter of positive adjusted EBITDA.



We are very proud of our accomplishments in Q3 2015, in terms of our financial performance, product traction and user growth. Tapinator is particularly pleased to deliver these results even as we continue to make substantial investments in new game development, marketing and data/analytics infrastructure.\"



Financial Highlights

- Quarterly revenue of $728,128; up 191% year-over-year

- Quarterly adjusted EBITDA (a non-GAAP measure) of $73,914; up 65% year-over-year

- $1.79 million in cash and cash equivalents as of September 30, 2015





Product Highlights

The Company ended Q3 with 153 games, of which 26 were launched in the quarter. Tapinator has 37 titles in its portfolio that have each achieved at least one million downloads, up from 20 games that had reached this milestone at the end of Q2. Within its full-featured games business, the Company had seven titles that have been selected as \"Best New Games\" and one \"Free App of the Week\" on iOS as of the end of Q3.



Dice Mage was featured as a \"Best New...