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Recent Earning Reports for Mobile Gaming Stocks Showing Healthy, Steady Growth

Financialnewsmedia.com News Commentary

The global health pandemic has had an incredibly negative impact on most businesses and markets across the globe, but there are actually some markets that have thriving because of the pandemic. The global gaming market is one of those exceptions. Revenues are booming in this industry this year… and are projected to continue in the near future. In fact, most of companies in market are showing upticks in recent quarterly earnings reports across the market… and the mobile games market looks like it will enjoy more growth than both PC and console gaming.  According to a report from Newzoo: “The world is currently undergoing a harrowing and unprecedented event: the COVID-19 pandemic. During these trying times, gaming has become a means of escapism and time filling for many. As a result, one of this year’s growth drivers is an increased interest in gaming due to COVID-19-related lockdown measures. However, the launch of the next-generation consoles toward the end of the year is also a key contributing factor.” Newzoo projected that the 2020’s global games market will generate revenues of $159.3 billion, a healthy year-on-year growth of +9.3%… All game segments saw an increase in engagement and revenues as a result of the COVID-19 measures, but mobile gaming saw the biggest increase. In total, mobile games will generate revenues of $77.2 billion in 2020, growing +13.3% year on year.

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Another report by TechZone360 echoed that projection, saying: “Last year, the global mobile gaming market grew to $68.5 billion. This growth was influenced by several underlying factors, making experts believe that the numbers will continue soaring this year. According to market experts, the global mobile gaming market will hit $76.7 billion, representing a 12% market growth.  This year, industry experts predict that consumers will collectively spend over 670 billion hours playing games on their mobile phones. That’s a significant increase, considering that people spent about 558 billion hours in 2019. This growth has been brought by the substantial rise of mobile use for online gaming, as game publishers continue releasing mobile-compatible versions of popular titles.”

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Andrew Merkatz, President & CFO of Tapinator, commented on the Company’s results, “We are very pleased with the following accomplishments during the second quarter of 2020:

  • We delivered our best bookings, net income, earnings per share, and adjusted EBITDA in Tapinator history, driven by our LiveOps which performed well throughout the quarter.
  • We reported quarterly bookings* of approximately $1.3mm, representing year-over-year growth of 60%.
  • We reported, within our core Category Leading Apps business, quarterly bookings* of approximately $1.0mm, representing year-over-year growth of 74%.
  • We continued the significant cost control measures that we implemented in the first quarter of this year.  These measures contributed to our achievement of quarterly net income of approximately $64,000 and adjusted EBITDA* of approximately $313,000, which compare, respectively, to a net loss of approximately ($265,000) and adjusted EBITDA* of approximately $293,000 recorded in Q2 2019.
  • We achieved adjusted EBITDA margin of 27% during the quarter, performance that we believe is indicative of the strong operating leverage inherent in our business.

The mobile game industry is expected to generate $100 billion in revenue in 2020, up from $86 billion in 2019, according to App Annie, the mobile data and analytics researcher.  Based on the report, games are now 72% of all spending in the app stores. Mobile games saw 25% more spending than all other games combined in 2019. Mobile game spending was 2.4 times the spending for PC and Mac games, and 2.9 times spending for home game consoles in 2019.  The growth rate of the social casino market, the subset of the market that Tapinator focuses on, is estimated at 5% over the next four years and is projected to reach $6.8 billion by 2023, according to market research firm Eilers & Krejcik. Tapinator has become a seasoned operator in this massive and lucrative market, and we believe we are well positioned to continue to deliver strong growth and product leadership in the coming years.”

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