Tapinator Inc (TAPM)

[misanthrope]

CORAL SPRINGS, Florida, May 5, 2016 /PRNewswire/ --

As consumers continue to gravitate towards on-the-go gaming options, mobile gaming continues to make its way towards eventually passing consoles and PCs in popularity, presenting rapid growth potentials for Gaming companies. Gaming developers and Publishers with current developments of note in the markets today are Tapinator, Inc. (OTC: TAPM), Zynga Inc. (NASDAQ: ZNGA), Electronic Arts Inc. (NASDAQ: EA), Glu Mobile Inc. (NASDAQ: GLUU), Activision Blizzard (NASDAQ: ATVI).

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 three months ended March 31, 2016. "Tapinator showed rapid business expansion in the first quarter of 2016," stated Tapinator CEO, Ilya Nikolayev. Our first quarter revenues grew 106% year-over-year to approximately $849,000, representing our seventh consecutive quarter of at least double-digit year-over-year revenue growth. Our revenue expansion can be primarily attributed to the continued broadening of our Rapid-Launch Games portfolio, as well as to a select number of Full-Featured Games that we believe have significant franchise potential. In addition to our strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA (a non-GAAP measure) of approximately $221,000 in the first quarter of 2016, an increase of 97% year-over-year, and our eighth consecutive quarter of positive adjusted EBITDA.