Trade School Go, Inc. (TSGO) research, news, and more from GeoInvesting

Company description

Fri, 24 Apr 2026 12:54:28 GMT

Trade School Go, Inc. (OTC: TSGO) (formerly trading as TAPM) operates TradeSchoolGo.com, an AI-powered trade school discovery platform connecting prospective students with accredited vocational training programs across the United States. The platform leverages advanced AI technology to provide comprehensive information about trade schools, programs, licensing requirements, and career outcomes.

Research

Thu, 16 May 2024 18:37:36 GMT

Tapinator, Inc. (OTC:TAPM) ($0.60; $1.6M market cap) announced Q1 2024 results: (May 14th release)

Sales of $1.23 million vs $1.06 million in the prior year
EPS of $0.05 vs $0.07

“We continue to see industry-wide marketing challenges, based on privacy changes that have made player targeting and tracking more difficult. However, we have increased our investment in marketing to put systems and processes in place which we believe will, over time, result in more favorable customer acquisition costs and an increase in player lifetime value…

…We are currently exploring opportunities at the intersection of voice, chat, and AI and we hope to provide an update on these efforts in Q3. As noted previously, given the maturation of mobile gaming, we are also seeking alternative growth opportunities for our shareholders within other industries/markets that can offer more significant growth prospects for the Company. We have evaluated numerous other opportunities to drive shareholder value over the past year and continue to evaluate such opportunities."

We are watching the company closely to see if it can resume revenue growth as the mobile gaming industry stabilizes, and as the company looks to expand its product offerings.

Tapinator Inc. develops and publishes category-leading games for mobile platforms.

Research

Wed, 13 Mar 2024 14:33:10 GMT

Tapinator, Inc. (OTC:TAPM) ($0.61; $1.6M market cap) announced Q4 2023 results:

Sales of $1.16 million vs $1.15 million in the prior year
EPS of $0.01 vs breakeven

In some of our past earnings updates, we covered developments to the strategic direction of Model Portfolio Holding TAPM, a developer and publisher of category-leading games for mobile platforms.

The company has been trying to adjust its strategy by focusing on new and its top selling existing products, particularly in the social casino area, and exploring growth opportunities beyond mobile gaming, such as in the launch of a new blackjack game.

Tapinator has typically experienced a year-over-year decline in sales and fluctuating profitability since early 2023 as it faced significant challenges from an industry-wide contraction in mobile gaming and a bear market in NFTs.

Accordingly management is still conveying a tepid point of view:

“Ilya Nikolayev, CEO of Tapinator, commented, "Year-over-year, we saw a 9% decrease in bookings for our games business, with a 2% decrease in our core Video Poker Classic property. These results can be attributed to: (1) marketing challenges facing the mobile industry based on privacy changes that have made player targeting and tracking more difficult; (2) the continuing decline of our legacy Rapid Launch Games business; and (3) a mobile games industry that continues to mature and which has become increasingly competitive. “

Aside from that, it appears that the company continues to highlight the progress of poker offerings, with no significant departures from their previous financial commentaries.

Research

Tue, 14 Nov 2023 16:35:20 GMT

Tapinator, Inc. (OTC:TAPM) ($0.65; $1.7M market cap), a developer and publisher of category leading games for mobile platforms, announced Q3 2023 results:

Sales of $1.17 million vs $1.30 million in the prior year
GAAP loss of $0.11 vs EPS of $0.05
Non-GAAP EPS of $0.06 vs EPS of $0.03 (We caution using non-gaap numbers as some of the non-cash charges seem to be recurring).

Unfortunately, unlike the last several press releases, management did not provide any commentary as it had in the past on how the mobile gaming industry was bottoming.

Research

Mon, 14 Aug 2023 18:30:21 GMT

Tapinator, Inc. (OTC:TAPM) ($0.60; $1.6M market cap), a developer and publisher of category leading games for mobile platforms, announced Q2 2023 results:

Sales of $1.03 million vs $1.39 million in the prior year
EPS of $0.03 vs loss of $0.03

“While we continue to invest in both existing and new products within the social casino area, we are also seeking alternative growth opportunities for our shareholders, both within mobile gaming itself as well as within other industries/markets that can offer more significant growth prospects for the Company…

We believe that all three of the product development directions summarized above are important for the growth of our business. However, we are especially excited about our upcoming blackjack game. In the mobile gaming space, current blackjack offerings focus on either solitary play (one player sitting at a table alone) or on a multiplayer experience (emulating a traditional blackjack table). We believe that there is significant opportunity for a third type of experience on mobile, focused on live, community play. We look forward to providing additional information on this product closer to its Q4 launch."

Research

Mon, 15 May 2023 14:56:52 GMT

Tapinator, Inc. (OTC:TAPM) ($0.68; $1.8M market cap), a developer and publisher of category leading games for mobile platforms, announced Q1 2023 results:

Sales of $1.01 million vs $1.68 million in the prior year
EPS of $0.07 vs EPS of $0.27

"In Q1 2023, we saw a decrease in revenue primarily stemming from the continuing decline of our legacy rapid-launch business and our NFT publishing business. Both of these declines were expected by us and we previously communicated the challenges that we're seeing within these two lines of business. Within our core social casino business, the decrease that we saw is being caused by an industry-wide contraction for mobile gaming. At this point, we believe that the contraction has slowed, and the business has stabilized. Nonetheless, we believe that it is important to seek growth opportunities both within mobile gaming itself as well as externally within industries/markets that are growing rapidly.”

Research

Mon, 06 Mar 2023 15:54:58 GMT

Tapinator, Inc. (OTC:TAPM) ($0.79; $2.1M market cap), a developer and publisher of category leading games for mobile platforms, announced Q4 2022 results:

Sales of $1.15 million vs $1.67 million in the prior year
Net loss of $0.22 vs net loss of $0.11
Full year sales of $5.5 million vs $5.8 million
EPS of $0.10 vs EPS of $0.23
Adjusting the quarterly and annual earnings for impairment charges related to the company’s NFT business would have resulted in much higher earnings per share numbers. The breakdown for earnings for share for the quarter and the year would have been:
- Quarter: $0.00 vs. $0.03.
- Year: $0.44 vs. $0.37

We think this is probably the better way to look at the company going forward when examining the health of the business. If the company can get back on track and to its previous run rate in earnings, shares are selling a very cheap valuation multiple.

"In 2022, we saw various macro challenges, including an industry-wide contraction for mobile gaming and a NFT bear market. In these challenging times, we believe that it is especially important to stay the course and continue executing on our product roadmap as well as operate the business in a profitable, efficient manner. We have done both and believe that we will see positive momentum from our efforts in 2023.

Research

Wed, 09 Nov 2022 05:00:00 GMT

Tapinator, Inc. (OTC:TAPM) ($1.20; $3.2M market cap), a developer and publisher of category leading games for mobile platforms, announced Q3 2022 results:

Sales of $1.3 million vs $1.5 million in the prior year
EPS of $0.05 vs EPS of $0.18

Overall market conditions within both the mobile gaming and crypto markets continued to decline in Q3 2022. According to research firm Sensor Tower, mobile spending declined at a rate of 4.8% year-over-year during the third quarter of 2022. The 3% decrease in our Category Leading Games Bookings during the quarter would indicate that our top-line performance in our core business was in-line to slightly above the market overall. As discussed previously we are no longer investing in our Rapid Launch Games thus we would expect continued degradation of that revenue stream over time. Furthermore, we have reduced our focus on NFT publishing given the continued contraction and volatility of those markets. Accordingly, Q3 reflects significant decline in NFT publishing bookings, and we expect such decline to repeat in both Q4 of 2022 and Q1 of 2023.

Given these factors and the continued challenging macro conditions, we would expect to see at least two more quarters of year-over-year company-wide contraction. We continue to believe that our historic focus on maintaining a lean cost structure has positioned us well to withstand such contraction and that continued investments in our franchise games, combined with our more recent investments in game marketing will begin to yield meaningful results for the Company as we look out to 2023 and beyond. We are not providing financial guidance at this time."

Research

Fri, 12 Aug 2022 04:00:00 GMT

Tapinator, Inc. (OTC:TAPM) ($2.28; $6.2M market cap), a developer and publisher of category leading games for mobile platforms, announced Q2 2022 results:

Sales of $1.39 million vs $1.42 million in the prior year
Net loss of $0.03 vs EPS of $0.07
“Our results this quarter, in both our mobile gaming and NFT collection and publishing businesses were negatively impacted by macroeconomic headwinds and industry wide slowdowns as compared to the significant growth experienced during the pandemic era. On the mobile gaming side, we continue to have multi-year conviction regarding our key franchise games, including Video Poker Classic, Crypto Trillionaire, Keno Vegas and Lucky Lotto, and are actively continuing to develop these titles. During this past quarter, we also embarked upon a longer-term strategy of increasing our investment in game marketing, a strategy we believe to be important for resuming overall growth in future quarters.”

It looks like we certainly got involved in this company at the top of a growth cycle. According to management, it looks like we’re going to have to wait at least three more quarters to get any more uptick in the business.

A big part of the bullish thesis when we originally wrote the article on this company was that it would have success launching a new category-leading game, which is necessary to reignite growth because of the maturing revenue growth of its legacy block buster category-leading poker game.

Unfortunately, the company hasn’t really given us much color on how that launch has been going. So, it’s prudent for us to do two things:.

First we always need to try to gain some data on the traction of its new category-leading game and secondly, we need to take a look at some competitors in the industry to see if their narratives match the cautionary tone of TAPM

Research

Tue, 10 May 2022 19:18:07 GMT

Tapinator, Inc. (OTC:TAPM) ($2.40; $6.79M market cap), a developer and publisher of category leading games for mobile platforms reported Q1 2022 results:

Sales of $1.68 million vs $1.21 million in the prior year

EPS of $0.27 vs $0.08 in the prior year

Non-GAAP EPS of $0.16 vs $0.04 in the prior year (adjusted for the gains related to NFT business; 2021 was gain on extinguish of debt )

Bookings of $1.7 million vs $1.3 million in the prior year

Suspends guidance

While it is nice to see that the company has experienced really nice growth for the quarter, like many other industries that benefited from increased revenue during the COVID-19 pandemic, the mobile game industry is set for a pause in growth. We definitely want to see if insiders will continue to buy stock at depressed levels, especially if the stock pulls back on this quarterly report. Furthermore, and more importantly, we want to track downloads for its new social gaming app (Keno Vegas) that the company just launched. Launching new social gaming casino apps, with the hopes of scoring big on one of them, like they have on their industry-leading game (Video Poker Classic), is key to the growth story.

"We are extremely proud of another record performance this past quarter. These results are driven by our continued strong execution within our mobile gaming business, combined with robust performance from within our NFT art collection and publishing businesses.

On the mobile gaming side, our products continue to perform as expected and we continue to release updates for our key games, including Video Poker Classic, Crypto Trillionaire and Lucky Lotto. We also successfully launched Keno Vegas, a new social casino product that leverages some of the extensive foundation, including monetization and live operations systems, that we have spent years building out for Video Poker Classic. We are pleased with the product's initial metrics and look forward to further developing the game.”

Company outlook:

While we continue to have conviction regarding our mobile games business, and specifically our Category Leading Games, we are facing macroeconomic headwinds and beginning to see an industry wide slowdown as compared to the significant growth experienced during the pandemic era. We believe we are relatively well positioned to weather such slowdown given our focus on evergreen game types within the social casino genre. Our investments within the NFT space are more speculative and volatile, but we continue to believe there are substantial long-term opportunities for the Company within the nascent Web3 markets representing the intersection of NFTs, digital art, gaming and the emerging metaverse. Due to the significant volatility and illiquidity within NFT markets, we do not intend to provide non-GAAP current market valuation estimates for our NFT collection. We are also not providing financial guidance at this time.

Research

Fri, 11 Mar 2022 15:04:48 GMT

Tapinator, Inc. (OTC:TAPM) ($14.82; $8.1M market cap), a developer and publisher of category leading games for mobile platforms, announced Q4 2021 results:

Sales of $1.6 million vs $1.2 million in the prior year
Loss per share of $0.56 vs loss of $0.76 in the prior year

Full year results:

Sales of $5.8 million vs $4.4 million in the prior year
EPS of $1.13 vs a loss of $0.99 in the prior year

Current Outlook

“We continue to have strong conviction regarding our mobile games business, and specifically our Category Leading Games. Our investments within the NFT space are more speculative, but we continue to believe there are substantial long-term opportunities for the Company within the nascent Web 3.0 markets representing the intersection of NFTs, digital art, mobile gaming and the metaverse. Our early conviction regarding this market opportunity, which dates back to 2018, is now being proven out; according to market research firm DappRadar, global NFT Sales exploded to $23 billion in 2021. We are not providing financial guidance at this time.”

Sales in Q4 were in line with what we had expected, but we need to take a deeper look into the financials to determine to if we need to apply any adjustments to the GAAP EPS results that might be non-recurring. However, as we stated in our initial report on TAPM, young video/mobile game publishers can exhibit wide fluctuations in quarterly results as they build a stable of games. The company currently has one game that is driving a good deal of its revenue and has been in the process of attempting to develop another “blockbuster’ game.

Research

Mon, 15 Nov 2021 11:50:57 GMT

Tapinator, Inc. (OTC:TAPM), a developer and publisher of category leading games for mobile platforms, reported Q3 2021 results, which we highlighted on Wednesday. While further digging through the release, we noticed that the quarter was boosted by the newly launched NFT segment.

If not for the NFT business, the quarter would have been flat. We will watch this trend closely. It is nice to see the NFT business already contributing to revenue. However, the legacy business products likely have matured and will have limited growth. It is also worth noting the company will be launching new products in the 1st quarter of 2022 which, coupled with the NFT business, could still provide a nice growth rate moving forward.

Research

Wed, 10 Nov 2021 16:03:52 GMT

Tapinator, Inc. (OTC:TAPM) ($21.27; $11.7M market cap), a developer and publisher of category leading games for mobile platforms, announced Q3 2021 results:

Sales of $1.5 million vs $1.1 million in the prior year
EPS of $0.89 vs. $0.13 in the prior year
We achieved record revenue and bookings of approximately $1.5mm and $1.8mm, respectively, representing growth of 32% and 60% year-over-year, respectively.

"We are extremely happy with our record performance in Q3. These results are based on our continuing to execute on our mobile gaming business as well as early traction within our NFT Publishing business.

On the mobile gaming side, our products continue to perform as expected and we continue to release updates for our key games. At the same time, as we indicated previously, we are currently in development on a new social casino product that leverages the extensive foundation, including monetization and live operations systems, that we have built out for Video Poker Classic. We expect to launch this social casino game in Q1 2022.”

Outlook:

“We continue to have strong conviction regarding our mobile games business, and specifically our Category Leading Games. Our investments within our Revolution Blockchain subsidiary are more speculative, but we believe there are substantial long-term opportunities for the Company within the nascent Web 3.0 markets representing the intersection of NFTs, digital art, mobile gaming and the metaverse. Our early conviction regarding this market opportunity, which dates to 2018, is now being proven out; according to market research firm DappRadar, global NFT Sales expanded from $28 million in Q3 2020 to $11 Billion in Q3 2021. While we are not providing specific financial guidance currently, we do expect to deliver revenue for 2021 of at least $5.7 million, representing annual growth of at least 30%, along with adjusted EBITDA margins of at least 25% in 2021.”

The guidance for Q4 could imply a flat YoY sales comp. Regardless, we are happy with the progress the company is making and are impressed with its strong operating margins which bodes well for earnings growth as sales ramp up. It's sometimes the nature of the beast with respect to video and mobile game companies - there are going to be occasional poor quarterly year over year financial comps based on the timing of new game releases, especially as legacy games run through their life cycles. It happens with all the big names early in their growth cycles. Good examples of this are Electronic Arts Inc. (NASDAQ:EA) and Take-Two Interactive Software, (NASDAQ:TTWO).

Research

Thu, 21 Oct 2021 17:47:14 GMT

Tapinator, Inc. (OTC:TAPM) ($25.00; $14.0M market cap), a developer and publisher of category leading games for mobile platforms, announced the release of its NFT500 mobile app. NFT500 is a free NFT casting platform, initially focused on blue chip NFTs via the Company's own NFT500 Museum Collection.

“When we look out several years, we envision consumers with screens in their homes displaying NFT-based digital art. We expect that a substantial majority of these consumers will choose not to spend tens or hundreds of thousands of dollars on NFT collections, but rather will utilize the NFT500 mobile app to cast works from our collection onto their wall...

...We are extremely proud of the recent app launch as well as the value that we believe we have created for shareholders this year through the development of the NFT500 platform. We plan to commence marketing of the app immediately, and we look forward to continuing to build both the technology platform and the NFT500 Museum Collection. Market demand for NFTs has surged this year, with NFT trade volume in the third quarter of 2021 reaching $10.67 billion, up 704% from the previous quarter according to CNBC...

...Recent announcements by companies such as Coinbase and Facebook expressing their intent to enter the NFT market further validate Tapinator's early attempts to establish leadership within this exciting new asset class beginning as far back as early 2018. After additional regulatory research, we have decided at this time not to pursue the issuance of any digital token through NFT500. We believe ownership in Tapinator common stock provides a more straightforward and cost-effective method for investors to participate in any potential capital appreciation from the NFT500 Museum Collection, although we cannot guarantee that any future appreciation will occur.”

On August 27, 2021 we released our bullish article highlighting why we felt TAPM was in the early innings of a multi-year growth phase. While we focused on the company’s mobile gaming business, we did touch upon the company’s new endeavour into NFT offerings. In early October, we highlighted a Seeking Alpha article that focused on the NFT angle of the company, which aligned with our bullish thesis. You can also read another Seeking Alpha article from early August with more on the future of the NFT art market.

Research

Thu, 07 Oct 2021 14:34:29 GMT

Tapinator, Inc. (OTC:TAPM) ($22.60; $12.4M market cap) - On August 27, 2021 we released our bullish article highlighting why we felt TAPM was in the early innings of a multi-year growth phase. While we focused on the company’s mobile gaming business, we did touch upon the company’s new endeavour into NFT offerings.

Yesterday, a Seeking Alpha article was published on TAPM focusing on the NFT angle of the company. The author posits that while the NFT marketplace is rife with hype projects, scams, and pitfalls for the average investor, he believes that TAPM represents a more legitimate option for your “first-class ticket onboard the NFT train”, further saying that NFT500, Tapinator's NFT art museum, curates the top 1% of art, separating from the vast majority of trash projects, providing a safe medium for investors.

Please note that our bullish stance on TAPM is based on the growth opportunities for its core mobile gaming business and that we see its NFT endeavour as a call option. We opined on this narrative in the TAPM research article we recently published on August 27, 2021, “Tapinator Inc. - A Look Under The Hood Reveals A Potential Multibagger”.

PodClips

Mon, 23 Aug 2021 04:00:00 GMT

TAMP Quick Pitch PodClip

Research

Mon, 16 Aug 2021 14:35:35 GMT

Adding TAPM to Our Select Long Disclosure (as mentioned in weekly summary last night)

We already interviewed Tapinator, Inc. (OTC:TAPM) ($13.00; $7.3M market cap) management and are reviewing our notes. Stay tuned for more information on the story. The crux of our bullish thesis revolves around the following points:

Change in business plan that took place in 2017 is starting to pay off
Being run by a very successful management team
Insider buying
Operating in a high growth niche of its industry
Undervalued vs. Comps

Valuation:

P/E
- (ttm non-gaap) 68.4x
- (annualized Q2) 8.75x
EV/S
- (ttm) 1.42
- (annualized Q2) 1.27x

Caveats:

With only about half million shares outstanding, it is one of the most thinly traded stocks in our coverage universe
Most revenues are generated from one flagship product
We are still early in our due diligence process

Management has accepted our invitation to present their story to the Geo community. We hope to set that up shortly.