ACCESS Newswire

FingerMotion

Share
FingerMotion Reports Q1 2022 Financial Results

NEW YORK, NY / ACCESSWIRE / July 15, 2021 / FingerMotion, Inc. (OTCQX:FNGR) (the "Company" or "FingerMotion"), a mobile data and services company, is pleased to report its financial results for the first quarter ended May 31, 2021. To review the full financial results, please view the Company's recent Form 10-Q filing at www.sec.gov/edgar/search, which should be read in connection with this news release.

Q1 2022 Financial Summary (results expressed in US$ unless otherwise indicated):

  • Reported record quarterly revenue of $6.00 million (includes SMS & MMS, Telecommunications Products & Services and Big Data businesses);
  • Reported quarterly growth in SMS & MMS business revenue of $1.81 million or 77% compared to Q1 2021;
  • Reported quarterly growth in Telecommunications Products & Services business revenue of $1.34 million or 341% compared to Q1 2021;
  • Reported revenues of $98,715 or 198% in Quarter over Quarter (Q4 2021 over Q1 2022) growth in Big Data;
  • Reported quarterly cost of revenue of $5.38 million which was an increase of $2.93 million or 120% compared to Q1 2021;
  • Reported quarterly loss of $909,506 which was an increase of $0.33 million or 57% compared to Q1 2021;
  • Basic and Diluted loss per share of $0.02;
  • At May 31, 2021, FingerMotion had $789,752 in cash, a working capital surplus of $2,352,502 and a positive shareholders equity of $1,455,643;
  • Total Assets were $8.61 million, Total Current Liabilities were $6.05 million and Total Liabilities were $7.16 million; and
  • 38,995,160 common shares were issued and outstanding as of May 31, 2021.

Strong growth continued in both the Telecommunications Products & Services (mobile recharge platform) and the SMS & MMS texting service.

"The first quarter generated $6.00 million in revenue and represented the fourth consecutive quarter of record revenue. If the current trajectory continues, revenue may exceed US$24 million for FYE 2022," stated Martin Shen, CEO of FingerMotion. "Growth continues to be fueled by an expansion of subscribers in new regions along with larger purchases of SMS from our corporate clientele. This is the second consecutive quarter of Big Data revenues and we expect it to continue and eventually outpace our existing revenue streams."

General and administrative expenses increased by $437,708 or 59% during the quarter which was primarily attributable to increased consulting and staff salaries that are a consequence of building out our 3 lines of business simultaneously. Research and development expenses increase to $135,429 during the quarter which was up 31% due to high data access and usage fees charged by the telecom companies.

"We are pleased to announce that the Company completed the 1st stage of prototyping of its insurtech model and expects completion by the end of this calendar year," stated Martin Shen.

About FingerMotion, Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. As the user base of its primary business continues to grow, the Company is developing additional value-added technologies to market to its users. The vision of the Company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the Company to onboard larger customer bases. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.

For further information:
info@fingermotion.com
718-269-3366

Safe Harbor Statement
This release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements give our current expectations of forecasts of future events. All statements other than statements of current or historical fact contained in this release, including statements regarding our future financial position, business strategy, new products, budgets, liquidity, cash flows, projected costs, regulatory approvals or the impact of any laws or regulations applicable to us, and plans and objectives of management for future operations, are forward-looking statements. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'should,' 'estimate,' 'expect,' 'hope,' 'intend,' 'may,' 'plan,' 'project,' 'will,' and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations about future events. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Our actual future results may differ materially from those discussed or implied in our forward-looking statements for various reasons. Factors that could contribute to such differences include, but are not limited to: international, national and local general economic and market conditions; demographic changes; the ability of the Company to sustain, manage or forecast its growth; the ability of the Company to manage its VIE contracts; the ability of the Company to maintain its relationships and licenses in China; adverse publicity; competition and changes in the Chinese telecommunications market; fluctuations and difficulty in forecasting operating results; business disruptions, such as technological failures and/or cybersecurity breaches; and the other factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.

SOURCE: FingerMotion, Inc.



View source version on accesswire.com:
https://www.accesswire.com/655723/FingerMotion-Reports-Q1-2022-Financial-Results

To view this piece of content from www.accesswire.com, please give your consent at the top of this page.

About ACCESS Newswire

DK

Subscribe to releases from ACCESS Newswire

Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from ACCESS Newswire

Pet-Food Revolution: Two New Global Surveys Reveal Growing Guardian Openness to Sustainable Diets for Dogs and Cats14.11.2025 15:05:00 CET | Press release

LONDON, UK / ACCESS Newswire / November 14, 2025 / Two pioneering studies published in the journal Animals have explored in depth how dog and cat guardians perceive more sustainable pet food options. Led by Jenny L. Mace, Alexander Bauer, Andrew Knight and Billy Nicholles, the research sheds new light on the potential for alternative proteins and plant-based diets in the companion animal sector. Study 1 - Dogs: ‘Consumer Acceptance of Sustainable Dog Diets: A Survey of 2,639 Dog Guardians' In the first study, the team surveyed 2,639 dog guardians worldwide. Around 84% of respondents were currently feeding their dogs either conventional or raw meat-based diets. However, a substantial 43% of this group reported they would nevertheless consider at least one type of more sustainable dog food (such as vegan, vegetarian or cultivated-meat formulations). Among the alternative options, the most acceptable was cultivated meat-based dog food (chosen by 24% of these respondents), compared to vege

Kraft Heinz and OMP Showcase Smarter, More Sustainable Value Chain at Gartner Supply Chain Planning Summit13.11.2025 15:00:00 CET | Press release

ATLANTA, GEORGIA / ACCESS Newswire / November 13, 2025 / OMP, a leader in supply chain planning solutions, is showcasing how Kraft Heinz is transforming its global food supply chain at the Gartner Supply Chain Planning Summit 2025 in Denver. The leading food and beverage company will share how it is driving efficiency from farm to table with OMP's Unison Planning™. By leveraging autonomous planning, decision intelligence, and AI optimization, Kraft Heinz enhances collaboration, manages complexity, and reduces waste. Kraft Heinz's journey to a smarter, more sustainable value chain Thiago Serra, Head of Integrated Business Planning at Kraft Heinz, will discuss how smart, data-driven planning is helping the company build a more agile and sustainable value chain. Gain insights into how Kraft Heinz combines digital intelligence and end-to-end visibility to create real business impact across operations. Explore human-AI synergy at the OMP booth The Gartner Supply Chain Planning Summit, takin

Preservica Integrates Active Digital Preservation with Microsoft 365 Archive12.11.2025 15:00:00 CET | Press release

BOSTON, MA AND OXFORD, UK / ACCESS Newswire / November 12, 2025 / Preservica is expanding its ongoing collaboration with Microsoft with a new integration to bring embedded Active Digital Preservation™ to Microsoft 365 Archive. The latest Preserve365® integration offers Microsoft customers additional flexibility and control over the management of long-term SharePoint content. With Preservica's embedded Active Digital Preservation software, IT and Information Governance (IG) teams can now seamlessly archive and actively preserve high-value SharePoint sites - such as completed projects containing long-term regulatory, legal, or operational data. This protects critical data from obsolescence, ensuring long-term records are always immediately accessible in trusted, readable formats to enable business teams to respond quickly and confidently to audits, legal proceedings, maintenance continuity and AI-driven initiatives. Better together: Optimizing cost and compliance for long-term content. M

Karbon-X and Hockey Canada Partner to Make Sustainability Part of Canada's Game12.11.2025 15:00:00 CET | Press release

The Canadian-based climate-solutions company joins forces with Hockey Canada to deliver measurable sustainability impact across national tournaments and community programs. CALGARY, AB / ACCESS Newswire / November 12, 2025 / Following Hockey Canada's announcement earlier this week, Karbon-X Corp. (OTCQX:KARX) ("Karbon-X" or the "Company") is proud to confirm its new partnership with Hockey Canada, becoming the organization's Official Sustainability Partner and advancing verified sustainability initiatives across one of the nation's most celebrated sports. The multi-year partnership integrates verified, measurable sustainability programs into Hockey Canada's national tournaments and grassroots registration, empowering players, fans, and communities across the country to take part in meaningful environmental initiatives. Together, the two organizations are uniting national pride with environmental purpose, showing that every game can leave a positive impact. Through the partnership, sele

Loar Holdings Inc. Reports Q3 2025 Record Results and Upward Revisions to 2025 Outlook and Full Year 2026 Outlook12.11.2025 14:30:00 CET | Press release

WHITE PLAINS, NY / ACCESS Newswire / November 12, 2025 / Loar Holdings Inc. (NYSE:LOAR) (the "Company," "Loar," "we," "us" and "our"), reports record results for the third quarter of 2025, upward revisions to 2025 outlook, and full year 2026 outlook. "The strong tailwinds of secular growth in commercial passenger traffic, immense backlogs at the airframe manufacturers, and global demand for defense products once again led us to a record quarter," stated Dirkson Charles, Loar CEO and Executive Co-Chairman of the Board of Directors. Third Quarter 2025 Net sales of $126.8 million, up 22.4% compared to the prior year's quarter. Net income of $27.6 million, up 218.9% compared to the prior year's quarter. Diluted earnings per share of $0.29, up 222.2% compared to the prior year's quarter. Adjusted EBITDA of $49.1 million, up 28.9% compared to the prior year's quarter. Net income margin for the quarter improved to 21.8% compared to the prior year's quarter of 8.4%. Adjusted EBITDA Margin for

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye