Tapinator, Inc. announced unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company announced revenue of $888,688 compared to $812,794 for the same period a year ago. The increase in revenue was attributable primarily to an increase in Consumer App Store Transactions, driven by Full-Featured Games business, which was partially offset by a decrease in Advertising revenue, driven by declines in Rapid-Launch Games business. Net loss was $915,880 compared to $554,255 for the same period a year ago. The net loss increase was primarily attributable to $620,417 in non-cash, stock based compensation expense incurred in the most recent quarter. Adjusted EBITDA was $160,106 compared to $41,338 for the same period a year ago. The increase in adjusted EBITDA is primarily due to $620,417 in non-cash, stock based compensation expense incurred in the most recent quarter which is included in net loss and backed out of the adjusted EBITDA figure. Operating loss was $592,671 compared to $178,340 for the same period a year ago. The increase in operating loss was primarily attributable to $620,417 in non-cash, stock based compensation expense incurred in the most recent quarter. Diluted net loss per share was $0.01 compared to $0.01 for the same period a year ago.

For the fiscal year 2018, the company expects unaudited revenue to be in the range of $4,117,000 to $3,931,000, operating loss to be in the range of $2,327,000 to $2,419,000, net loss to be in the range of $2,650,000 to $2,742,000, and adjusted EBITDA to be $548,000 to $456,000.