Dramatic Increased Popularity of Mobile Gaming Leading to Healthy Rise in Revenue Growth Potential, Company Reports Strong Revenue Results

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Mar 30, 2016, 08:30 ET

CORAL SPRINGS, Florida, March 30, 2016 /PRNewswire/ --

Mobile gaming continues its rapid growth, accounting for $34.8 Billion of the total of $85.4 Billion spent on gaming in 2015. Active gaming tech companies and mobile gaming publishers with current achievements of note in the markets today are Tapinator, Inc. (OTC: TAPM), Activision Blizzard, Inc. (NASDAQ: ATVI), Avid Technology, Inc. (NASDAQ: AVID), Zynga, Inc. (NASDAQ: ZNGA) and Scientific Games Corporation (NASDAQ: SGMS)

Tapinator, Inc. (OTC: TAPM), an emerging growth company within the mobile gaming industry, announced yesterday financial results for the period ended December 31, 2015, and the filing of its annual report and audited financial statements for the years ended December 31, 2015 and 2014. The annual report and audited financial statements may be found at http://www.otcmarkets.com/stock/TAPM/filings. "Tapinator continued to show solid business expansion in the fourth quarter of 2015," stated Tapinator CEO, Ilya Nikolayev. "Our fourth quarter revenues grew 87% year-over-year to approximately $693,000, representing our sixth consecutive quarter of at least double-digit year-over-year 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 select number of full-featured titles 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 $150,000 in the fourth quarter of 2015, an increase of 187% year-over-year and our seventh consecutive quarter of positive adjusted EBITDA.

Read the full Tapinator (TAPM) Press Release at http://www.financialnewsmedia.com/profiles/tapm.html

For the year ended December 31, 2015, Tapinator achieved revenue of approximately $2.49 million and adjusted EBITDA of approximately $523,000, representing year-over-year growth rates of 159% and 414%, respectively. We are very pleased with of our accomplishments in 2015, in terms of our financial performance, product traction and user growth. Tapinator was able to deliver these results even as we continue to make substantial investments in our new game development, human resources, marketing and data/analytics infrastructure. We believe that we have laid the appropriate groundwork to allow Tapinator to support a much larger enterprise and we look forward to demonstrating continued business growth in 2016 and beyond."

Financial Highlights From TAPM Report

-        Annual revenue of $2,448,051; up 159% year-over-year
-        Quarterly revenue of $692,682; up 87% year-over-year
-        Annual adjusted EBITDA (a non-GAAP measure) of $522,894; up 414% year-over-year*
-        Quarterly adjusted EBITDA (a non-GAAP measure) of $149,707; up 187% year-over-year*
-        $1.49 million in cash and cash equivalents as of December 31, 2015

In other gaming developments & news of importance: Activision Blizzard, Inc. (NASDAQ: ATVI) News: Scholastic, the world's largest publisher and distributor of children's books, and internationally acclaimed game developer and publisher Blizzard Entertainment announced a collaboration on a new book series for kids ages 8-12 based on Blizzard's popular World of Warcraft® game franchise. World of Warcraft: Traveler will launch simultaneously in the U.S., the U.K., Australia, New Zealand, and Canada, with the first hardcover book scheduled for release in November 2016, followed by the second title in November 2017. Set in the breathtaking land of Azeroth, this epic action-adventure series features a young cast of Warcraft characters discovering the mysteries and majesty of the world around them. Written by celebrated comic book author and animation writer Greg Weisman, the first book will include full-page sketches created by Blizzard artist Samwise Didier, and a full-color cover illustration by Blizzard artist Stephane Belin.

Avid Technology, Inc. (NASDAQ: AVID) announced that the world's largest professional wrestling company, World Wrestling Entertainment (WWE), has invested in a new production workflow powered by the Avid MediaCentral™ Platform. By embracing Avid Everywhere™, the global sports media company can enable its production teams to work more efficiently. WWE has chosen to protect its investment in the new workflow solution, as well as its media assets by implementing a back-up system so it can continue to produce content in the event of an unexpected disruption. WWE is a global sports entertainment company headquartered in Stamford, Connecticut. The company is one of the largest producers of original content, which is distributed via broadcast, cable, web, DVD, print, and its own streaming network to 180 countries across the globe. To help manage the huge amount of content it produces-including 40 hours a week in the U.S. alone-WWE needed a scalable, efficient, and integrated workflow to generate and manage content. The media giant also felt it was of utmost importance to include an integrated backup production system in the solution design to maintain its production workflow.

Zynga, Inc. (NASDAQ: ZNGA) News: Zynga.org, an independent nonprofit organization dedicated to the idea that social games are a platform for social good, will host 100 students from local high schools at Zynga's San Francisco headquarters for the 3rd annual Game Design Academy Career Day. The immersive day of game industry exposure and exploration is part of San Francisco Unified School District (SFUSD) and Zynga.org's Game Design Academy program, which leverages students' interest and excitement around games to teach the fundamentals of technology education and computer science and to prepare the next generation of tech industry professionals to fill the jobs oftomorrow.

Scientific Games Corporation (NASDAQ: SGMS) recently announced that will host its inaugural EMPOWER customer conference showcasing the Company's innovative solutions, convergence technologies and the industry's broadest gaming, lottery, and interactive product portfolio. The EMPOWER conference evolved from Bally Technologies' Systems User Conference, which was held for 11 years at casino resorts across the United States. Following the merger of Scientific Games and Bally Technologies in 2014, the Company is now planning an expanded event to incorporate its three business divisions, making EMPOWER the only private, global conference of its kind in the gaming and lottery industry.

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