ChineseNewsBreaks – FingerMotion Inc. (FNGR) Releases Financial Report for Q1 2021
Jul 16, 2021
FingerMotion (OTCQX: FNGR), a mobile services and data company, has reported its financial results for the first quarter 2021, ended May 31, 2021, and filed the full report with the U.S. Securities and Exchange Commission. Key highlights of the report include record quarterly revenue totaling $6 million, including the company’s SMS & MMS texting service, telecommunications products and services, and big data business; 77% quarterly growth in the SMS & MMS business revenue, which reached $1.81 million; and growth of more than 300% in the company’s telecommunications products and services business, which totaled $1.34 million. The company’s big data business also grew, increasing nearly 200% with reported revenues of $98,715. “The first quarter generated $6 million in revenue and represented the fourth consecutive quarter of record revenue,” said FingerMotion CEO Martin Shen in the press release. “If the current trajectory continues, revenue may exceed $24 million for FYE 2022. 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. . . . We are pleased to announce that the company completed the first stage of prototyping of its insurtech model and expects completion by the end of this calendar year.”
To view the full press release, visit https://ibn.fm/79hTp
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 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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