NetworkNewsBreaks – FingerMotion Inc. (FNGR) Rel
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Posted On: 10/15/2021 4:14:17 PM
NetworkNewsBreaks – FingerMotion Inc. (FNGR) Releases Financial Report for Q2 2022
FingerMotion (OTCQX: FNGR), a mobile data and services company, has reported its financial numbers for quarter two, the period ending Aug. 31, 2021. Company officials noted that the quarter was a transition to greater profitability as more of its initiatives began contributing to the gross margin; in addition, FNGR hit a milestone of more than $5 million in shareholders’ equity. Other highlights of the report included quarterly revenue of $5.39 million stemming from the company’s SMS & MMS, Telecommunications Products & Services businesses, and Big Data. SMS & MMS business revenue for the quarter grew 25%, or $0.73 million, compared to Q2 2021, with quarterly growth of $1 million, or 142% in Telecommunications Products & Services business compared to Q2 2021. Big Data reported revenues of $32,702 with quarterly cost of revenue reaching $4.69 million, or an increase of $1.33 million compared to Q2 2021. “The second quarter generated solid revenue of $5.39 million and saw continued growth in year over year revenues,” said FingerMotion CEO Martin Shen in the press release. “Growth continues unabated with the SMS texting due to our optimized prepayments of bulk inventory purchases. Contributing to the growth and margin expansion was from the subscription plan and the mobile phone sales. These optimized purchase programs and hardware sales and service improved gross profit from 7% to 13%. The company is seeing strong demand in SMS from our corporate clientele. This is the third consecutive quarter of Big Data revenues, and we expect it to continue and eventually outpace our existing revenue streams.”
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 (OTCQX: FNGR), a mobile data and services company, has reported its financial numbers for quarter two, the period ending Aug. 31, 2021. Company officials noted that the quarter was a transition to greater profitability as more of its initiatives began contributing to the gross margin; in addition, FNGR hit a milestone of more than $5 million in shareholders’ equity. Other highlights of the report included quarterly revenue of $5.39 million stemming from the company’s SMS & MMS, Telecommunications Products & Services businesses, and Big Data. SMS & MMS business revenue for the quarter grew 25%, or $0.73 million, compared to Q2 2021, with quarterly growth of $1 million, or 142% in Telecommunications Products & Services business compared to Q2 2021. Big Data reported revenues of $32,702 with quarterly cost of revenue reaching $4.69 million, or an increase of $1.33 million compared to Q2 2021. “The second quarter generated solid revenue of $5.39 million and saw continued growth in year over year revenues,” said FingerMotion CEO Martin Shen in the press release. “Growth continues unabated with the SMS texting due to our optimized prepayments of bulk inventory purchases. Contributing to the growth and margin expansion was from the subscription plan and the mobile phone sales. These optimized purchase programs and hardware sales and service improved gross profit from 7% to 13%. The company is seeing strong demand in SMS from our corporate clientele. This is the third consecutive quarter of Big Data revenues, and we expect it to continue and eventually outpace our existing revenue streams.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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