Tapinator, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the third quarter, the company announced revenue of $681,337 against $849,787 a year ago. Net loss was $607,999 against $506,511 a year ago. Basic and diluted loss per share was $0.01 against $0.01 a year ago. Adjusted EBITDA was negative $26,273 against adjusted EBITDA of $123,566 a year ago.

For the nine months, the company announced revenue of $2,303,698 against $2,282,677 a year ago. Net loss was $2,080,931 against $2,922,885 a year ago. Basic and diluted loss per share was $0.02 against $0.05 a year ago. Adjusted EBITDA was $144,025 against $127,081 a year ago.

Primarily as a result of the recent accelerated weakening in Rapid-Launch Games and to a lesser extent due to certain Full-Featured product launch delays, both the company are lowering previously issued full-year revenue, net income and adjusted EBITDA guidance for 2018. For the year 2018, the company now expects revenue of $2,800,000 to $3,000,000 compared to previous guidance or $3,300,000 to $3,600,000. Net loss will be in the range of $3,000,000 to $3,200,000 compared to previous guidance of $2,650,000 to $2,850,000. Adjusted EBITDA will be in the range of $90,000 to $120,000 compared to previous guidance or $200,000 to $400,000.