Tapinator, Inc. (OTC: TAPM), a leading emerging growth company within the mobile gaming industry, is pleased to announce that it is raising its previously issued financial guidance for 2016, based on strong performance of its core mobile gaming business during the first half of this year. Tapinator now expects to achieve revenue in the range of $4.0 million - $4.5 million in 2016, up from previous revenue guidance of $3.7 million - $4.3 million for the year, representing an annualized organic revenue growth rate range of 63%-84%. The Company continues to expect near break-even results at the operating income level, and is now targeting an Adjusted EBITDA (a non-GAAP measure) percentage of 24% for 2016, up from previously issued guidance of 22%. Assuming, the Company achieves break-even results at the operating income level, the Company continues to expect net losses in 2016 of approximately $1.6 million, primarily as a result of financing related charges associated with the Company's $2.0 million convertible debenture financing completed during 2015, including $1.5 million in expected non-cash charges.
Tapinator is also pleased to provide the following timing update for some of its most significant 2016 Full Featured game launches:
-- Combo Quest 2 - June 30th, 2016
-- Big Sport Fishing 2016 - August, 2016
-- Rocky - Q4, 2016* (specific timing will be provided closer to release date)
The Company will also soon provide an update on its emerging social casino games portfolio, including recent game performance and launch highlights.
