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Tapinator (OTC: TAPM) reported its unaudited financial results for Q1 2024, revealing a 16% YoY increase in revenue to $1.2 million and a 5% YoY increase in bookings to $1.2 million. Net income dropped by 29% YoY to $144,000, and adjusted EBITDA decreased by 15% YoY to $144,000. The basic and fully diluted EPS were $0.05.
Operating income saw a 17% increase to $21,417, while the net income margin fell from 19% to 12%. Tapinator maintains its focus on key products like Video Poker Classic and Blackjack Live Casino, with significant updates planned for 2024. The company is also exploring AI-driven enhancements and alternative growth opportunities outside the mobile gaming sector.
Tapinator announced its Q1 2024 financial results, showing a revenue increase of 16% year-over-year to $1.2 million.
Bookings rose by 5% to $1.2 million, while Adjusted EBITDA increased by 15% to $144k. However, net income decreased by 29% to $144k, with basic and fully diluted EPS at $0.05.
The company continues to face marketing challenges due to privacy changes but has increased investment in marketing to improve customer acquisition costs and player lifetime value.
Product development remains focused on key games like Video Poker Classic and Blackjack Live Casino, with significant updates planned for Q2 and Q3 2024.
Tapinator is also exploring opportunities in other industries to drive shareholder value.
