Tap Hidden gem unearthed by Bitcoin and Recent rise5 Dec 2023 19:06
FY23 and FY22 revenue figures are both for Tap and Tap’s wholly-owned subsidiary, Tap Global Limited ("TGL"). Tap acquired 100% of TGL on 10 January 2023.
Financial Performance
FY23 has been a record year for revenue with the operating company, TGL reporting significant growth since Tap listed on the AQSE Growth Market (“Listing”). Following the Listing and a particularly strong trading period in the first half of the calendar year, TGL generated revenues of over £2.5m in FY23, a near threefold increase on FY22.
As previously announced, Tap intends to commission analyst research which will establish financial forecasts, including revenue and profitability in the near future. The Company expects this research to be available shortly after the publication of its Full Year Results.
User Growth and International Expansion
Since Listing, Tap has continued to rapidly expand its user base, passing the 150,000-user mark in May 2023. Tap is pleased to report that it now has over 185,000 registered users on its platform and the Company expects to continue growing its user base through application upgrades, increased marketing spend and by launching in new markets.
As previously announced, the Company continues to plan for international expansion with Canada, the United States and Australia among its target markets. As stated in April’s Trading Update, management continues to take a