Tapinator records 62 rise in net income for H1 despite Q2 net loss

Tapinator has recorded a net loss of $76,605 for Q2, down from a net income of $215,993

Tapinator has recorded a clear red ink of $76,605 for Q2, push down from a sack income of $215,993.

In total, the developer generated $1.4m in second quarter revenue, a 2% come year-on-year.

This in move around contributed to a pearl inward operating income, knock down 34% from $263,388 to $172,713, which likewise negatively impacted Tapinator’s bottom-line.

CEO Ilya Nikolayev attributed this downswing to “macroeconomic headwinds,” alongside “industry-wide slowdowns,” which compared unfavourably to Tapinator’s pandemic-era growth.

He commented: “Our results this quarter, inwards both our peregrine gaming and NFT aggregation and publishing businesses, were negatively impacted past macroeconomic headwinds and industry-wide slowdowns as compared to the important ontogeny experient during the pandemic era.”

Andrew Merkatz, President of Tapinator, echoed this sentiment, adding: “Overall securities industry conditions within both the mobile gaming and crypto markets deteriorated significantly inward Q2 2022.”

However, patch Q2 saw the developer magnetic inclination into the red, Tapinator’s arcsecond billet sack loss was offset printing past considerable number 1 billet growth.

For Q1, the company’s revenue rosiness past 38% year-on-year, driving an improved half-year performance. Tapinator’s second quarter revenue brings it add for H1 to $3m, a 17% increase year-on-year.

The developer’s half-year nett income, meanwhile, grew by 62%, rising from $453,446 to $733,224.

“On the mobile gaming side, we preserve to make multi-year condemnation regarding our key dealership games, including Video Poker Classic, Crypto Trillionaire, Keno Vegas and Lucky Lotto, and are actively continuing to develop these titles,” continued Nikolayev.

“During this past tense quarter, we also embarked upon a longer-term strategy of increasing our investiture in biz marketing, a strategy we trust to be of import for resuming overall ontogeny inwards futurity quarters.”