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

Datavault AI Announces it has Developed Patented AI Rating Technology Launching Globally with Fintech.TV in Pilot Season14.1.2026 15:15:00 CET | Press release

Introducing AI Content Detection, Real-Time Bias Meter and Breakthrough Interactive Polling Powered by ADIO® PHILADELPHIA, PENNSYLVANIA / ACCESS Newswire / January 14, 2026 / Datavault AI Inc. (Nasdaq:DVLT), a leader in AI-driven data valuation, monetization, credentialing, and digital engagement technologies, today announced a transformative integration of its patented content detection, identification, and rating system (US Patent Publication 2019/0082224 A1) with Fintech.TV, the premier on-demand platform for fintech and AI news. This collaboration leverages Datavault AI's proprietary innovations to enhance viewer engagement and promote fair, balanced media through a revolutionary high performance computation and real-time bias meter and interactive polling utility that is activated via Datavault AI's patented Inaudible Tone® technology known as ADIO. Vince Molinari, CEO of Fintech.tv stated, "Fintech TV is known for exploring cutting-edge technology at the intersection of finance,

Skymantics Announces Strategic Investment and Technology Partnership with Geo Orchestration AI to Advance Generative Risk Analytics14.1.2026 13:30:00 CET | Press release

ZARAGOZA, ES / ACCESS Newswire / January 14, 2026 / Skymantics, a leading provider of AI-driven data analytics solutions, is announcing a strategic partnership with Geo Orchestration AI, a generative AI orchestration engine provider for the healthcare analytics sector. The partnership includes an equity investment by Skymantics' leadership and the appointment of Antonio Correas, Skymantics Co-founder and Chief Growth Officer, to Geo Orchestration AI's Board of Directors. This collaboration marks a significant convergence of technologies, combining Skymantics' DataGenesis synthetic data platform with Geo Orchestration AI's generative orchestration engine, Anna. Building a Developer Ecosystem The partnership was showcased at the American Geophysical Union (AGU) Annual Meeting 2025 in New Orleans. During the event, Skymantics demonstrated local- and national-scale heat and air quality risk analytics solutions built directly upon the Anna platform. This demonstration validates Anna's capab

GA-ASI and USN Test Expanded Sonobuoy Dispensing System For MQ-9B SeaGuardian(R)13.1.2026 19:00:00 CET | Press release

SAN DIEGO, CALIFORNIA / ACCESS Newswire / January 13, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI) and the U.S. Navy continue to expand the Anti-Submarine Warfare (ASW) capability of the MQ-9B SeaGuardian® Unmanned Aircraft System (UAS). Flight test was performed on December 17 and featured Sonobuoy Dispensing System (SDS) pods, more than previously tested, doubling the number of sonobuoys available. "Expanding sonobuoy capacity, including Multi-static Active Coherent (MAC) technology for SeaGuardian, has been an integral part of our advanced ASW strategy to broaden and enhance search areas," said GA-ASI President David R. Alexander. "The wider maritime coverage our MQ-9B's ASW capability provides is extremely valuable to our customers." Sonobuoys are naval sensors that drop from an aircraft into the ocean and help detect submarines. The SeaGuardian deployed AN/SSQ-36 Bathythermal, AN/SSQ-53G Directional Frequency Analysis and Recording (DIFAR) (passive), and AN/SSQ-62F D

Hirth Engines and ePropelled Announce Strategic Collaboration to Advance High-Efficiency Propulsion Systems13.1.2026 15:00:00 CET | Press release

Unifying Strengths to Address a Growing Market COVENTRY, UK / ACCESS Newswire / January 13, 2026 / Hirth Engines, a globally recognized leader in two-stroke engine technology, and ePropelled, an innovator in high-efficiency intelligent electric propulsion and power generation systems , today announced a strategic collaboration aimed at delivering the next generation of hybrid propulsion solutions for the UAV, aerospace, defense, and specialized mobility markets. Driven by increasing demand for reliable, lightweight, and energy-efficient propulsion systems, the partnership brings together Hirth's decades-long expertise in advanced combustion engines with ePropelled's pioneering electric propulsion and power management technologies. Together, the companies will develop integrated hybrid systems designed to offer unmatched performance, extended mission endurance, and greater operational flexibility. Unifying Strengths to Address a Growing Market Under this collaboration, Hirth Engines wil

Polaris Renewable Energy Announces Q4 and Annual 2025 Investor Call Details13.1.2026 15:00:00 CET | Press release

TORONTO, ONTARIO / ACCESS Newswire / January 13, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company") is pleased to announce it will be holding its Earnings Conference Call and Webcast to report its Q4 and annual 2025 Earnings Results on Thursday, February 19th, 2026, at 10:00 am EST. To listen to the call, please dial Toll Free 1 888-506-0062 or International Toll-Free Number 973-528-0011 entry code 743835. or URL: https://www.webcaster4.com/Webcast/Page/2773/51835 A digital recording of the earnings call will be available for replay two hours after the call's completion. Replay Call Information: Toronto: 1 877-481-4010, Passcode: 51835 International (toll-free): 1 919-882-2331, Passcode: 51835 Encore Replay Expiration Date: March 05, 2026 About Polaris Renewable Energy Inc. Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America and the Caribbean. We

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