FingerMotion Inc. (FNGR): A Future Anchored in Mobile Products Research and Development
- FingerMotion’s R&D expenditure has been gradually increasing quarter over quarter and year on year, representing its focus on the development of innovative mobile payment and communication products for over 1/2 million users in China
- The company’s Big Data Insights division, Sapientus, which has accounted for most of the R&D expenditure so far, has been several years in the making
- FingerMotion is looking to establish a collaborative lab with partners to run as a joint research and analytics hub
- In March 2020, FNGR set aside resources dedicated to the R&D of an RCS platform
A look at several of the recent forms 10-K (annual report) and 10-Q (quarterly report) that evolving technology company FingerMotion (OTCQX: FNGR) has filed with the SEC shows interesting trends. These trends, which point to an ever-increasing focus on research and development (“R&D”), further bolster the company’s commitment to developing “must-have” applications for both consumers and businesses.
In the three months ended November 30, 2020 (Q3 2021), the company’s R&D expenditure was up 29% to $124,723 from $96,627 reported in Q3 2020 (https://nnw.fm/YCcsQ). The increase contributed to a year-end R&D expenditure of $552,343 for the fiscal year ended February 28, 2021 (FY 2021), representing a year-over-year increase of 42% (from $390,288 in FY 2020). Similarly, the company’s R&D spending increased to $135,429 in the three months ended May 31, 2021 (Q1 2022), up from $103,610 expended in Q1 2021 (https://nnw.fm/69AiN).
According to the financial statements, FNGR’s youngest operational division, Sapientus, launched mid last year, accounted for most of the expenditure.
Through Sapientus, FingerMotion delivers big data-enabled insurance solutions (behavioral insights) that augment existing service offerings and increase insurers’ ability to calculate risks and develop more innovative products.
The division generated $33,077 in revenue in Q4 2021 and $98,715 in Q1 2022. This quarter-over-quarter increase marked significant progress in Sapientus’ success, which has been several years in the making.
“In the past few years, we’ve had our inhouse team of actuaries and data scientists, who really know the ins and outs of the insurance industry, and what they’ve been doing is they’ve been deciphering information from all these different sources and putting them in the risk metrics that could provide those fresh insights and intelligence for the insurance field,” explains FingerMotion CEO Martin Shen in the company’s August corporate update (https://nnw.fm/3u53X).
FingerMotion believes that by integrating its Sapientus data blocks with external data sources such as industry reports and compiled data published by researchers, its R&D departments can develop innovative insurtech and fintech products for its customers. The company is also looking to leverage key partnerships.
“One of our exciting moves is that we are looking to establish a collaborative lab with our partners. This lab will run as a joint research and analytics hub to further develop the advanced behavioral modeling algorithms that we already have, improve the insights that we are developing, and support some of those innovative products for insurance customers and then help them assess that overall risk,” Shen continued.
FNGR’s focus on R&D as an instrument for innovation is not just constrained to its Big Data insights operations. Its form 10-K for the most recent financial year, for instance, noted that in March 2020, the company’s management allocated resources toward the R&D of a Rich Communications Services (“RCS”) platform (https://nnw.fm/hJr6B).
An emerging and formidable technology, RCS is revolutionizing text-based messaging by eliminating the constraints associated with short text messaging. It offers expanded capabilities such as file sharing, group chat, video calling, and more from the native messaging service without using a third-party app. The burgeoning RCS market is projected to grow at a 17.6% CAGR from 2020 to 2025, topping out at a value of $11.7 billion (https://nnw.fm/Gf0Og). FingerMotion is looking to tap into this growth through the expected launch of the RCS division, having already commenced R&D efforts.
For more information, visit the company’s website at www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://nnw.fm/FNGR
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- FingerMotion’s R&D expenditure has been gradually increasing quarter over quarter and year on year, representing its focus on the development of innovative mobile payment and communication products for over 1/2 million users in China
- The company’s Big Data Insights division, Sapientus, which has accounted for most of the R&D expenditure so far, has been several years in the making
- FingerMotion is looking to establish a collaborative lab with partners to run as a joint research and analytics hub
- In March 2020, FNGR set aside resources dedicated to the R&D of an RCS platform
A look at several of the recent forms 10-K (annual report) and 10-Q (quarterly report) that evolving technology company FingerMotion (OTCQX: FNGR) has filed with the SEC shows interesting trends. These trends, which point to an ever-increasing focus on research and development (“R&D”), further bolster the company’s commitment to developing “must-have” applications for both consumers and businesses.
In the three months ended November 30, 2020 (Q3 2021), the company’s R&D expenditure was up 29% to $124,723 from $96,627 reported in Q3 2020 (https://nnw.fm/YCcsQ). The increase contributed to a year-end R&D expenditure of $552,343 for the fiscal year ended February 28, 2021 (FY 2021), representing a year-over-year increase of 42% (from $390,288 in FY 2020). Similarly, the company’s R&D spending increased to $135,429 in the three months ended May 31, 2021 (Q1 2022), up from $103,610 expended in Q1 2021 (https://nnw.fm/69AiN).
According to the financial statements, FNGR’s youngest operational division, Sapientus, launched mid last year, accounted for most of the expenditure.
Through Sapientus, FingerMotion delivers big data-enabled insurance solutions (behavioral insights) that augment existing service offerings and increase insurers’ ability to calculate risks and develop more innovative products.
The division generated $33,077 in revenue in Q4 2021 and $98,715 in Q1 2022. This quarter-over-quarter increase marked significant progress in Sapientus’ success, which has been several years in the making.
“In the past few years, we’ve had our inhouse team of actuaries and data scientists, who really know the ins and outs of the insurance industry, and what they’ve been doing is they’ve been deciphering information from all these different sources and putting them in the risk metrics that could provide those fresh insights and intelligence for the insurance field,” explains FingerMotion CEO Martin Shen in the company’s August corporate update (https://nnw.fm/3u53X).
FingerMotion believes that by integrating its Sapientus data blocks with external data sources such as industry reports and compiled data published by researchers, its R&D departments can develop innovative insurtech and fintech products for its customers. The company is also looking to leverage key partnerships.
“One of our exciting moves is that we are looking to establish a collaborative lab with our partners. This lab will run as a joint research and analytics hub to further develop the advanced behavioral modeling algorithms that we already have, improve the insights that we are developing, and support some of those innovative products for insurance customers and then help them assess that overall risk,” Shen continued.
FNGR’s focus on R&D as an instrument for innovation is not just constrained to its Big Data insights operations. Its form 10-K for the most recent financial year, for instance, noted that in March 2020, the company’s management allocated resources toward the R&D of a Rich Communications Services (“RCS”) platform (https://nnw.fm/hJr6B).
An emerging and formidable technology, RCS is revolutionizing text-based messaging by eliminating the constraints associated with short text messaging. It offers expanded capabilities such as file sharing, group chat, video calling, and more from the native messaging service without using a third-party app. The burgeoning RCS market is projected to grow at a 17.6% CAGR from 2020 to 2025, topping out at a value of $11.7 billion (https://nnw.fm/Gf0Og). FingerMotion is looking to tap into this growth through the expected launch of the RCS division, having already commenced R&D efforts.
For more information, visit the company’s website at www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://nnw.fm/FNGR
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
