InvestorNewsBreaks – FingerMotion Inc. (FNGR) Releases Fiscal Year 2022 Report
Jun 1, 2022
FingerMotion (OTCQX: FNGR), a mobile data and services company, has announced its financial numbers for its fiscal year, which ended on Feb. 28, 2022. Highlights of the report include annual revenue of $22.93 million, a 37% increase over last year’s revenue from the same period; the revenue came from the company’s SMS and MMS, telecommunications products and services businesses, as well as big data. Year over year annual growth in telecommunications products and services business revenue totaled $5.45 million with year over year annual growth in SMS and MMS business revenue of $.70 million; year over year growth in big data reached $.10 million, and the company reported gross profits of $2.81 million, an increase of $1.17 million compared to the same period last year. FingerMotion also reported $461,933 in cash and cash equivalents on Feb. 28, 2022, with a working capital surplus of $4.93 million and a positive shareholders’ equity of $5.09 million; total assets for the company reached $10.37 million, total current liabilities were $5.28 million and total liabilities were $5.28 million, with 42,627,260 common shares issued and outstanding. “The company achieved a NASDAQ uplisting in December 2021, which was a major milestone for the company,” said FingerMotion CEO Martin Shen in the press release. “During the year, we also achieved another milestone of over $5 million in shareholders equity. We aggressively opened up new markets in our top up business in collaboration with our telecom partners, and we are very pleased with our Chinese subsidiaries ability to maintain profitability throughout the year. We continue to invest in the growth of the insurtech business.”
To view the full press release, visit https://ibn.fm/cNIDl
About FingerMotion Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. It is one of only a few companies in China with access to wholesale rechargeable minutes from China’s largest mobile phone providers that can be resold to consumers. 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 more than 1 billion users in the China market and eventually expand the model to other regional markets. For more information about the company, please visit www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR
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