Benzinga | Jan 18, 2022 09:24AM EST

FingerMotion Q3 Sales $5.9M, Up 21% YoY

FingerMotion, Inc. (NASDAQ:FNGR) (the "Company" or "FingerMotion"), a mobile services and data company, is pleased to report its financial results for the third quarter ended November 30, 2021. To review the full financial results, please view the Company's recent 10-q filing at www.sec.gov/edgar/search, which should be read in connection with this news release.

Q3 2022 Financial Summary (results expressed in US$ unless otherwise indicated):

* Reported quarterly revenue of $5.9 million which was an increase of $1.02 million or 21% compared to Q3 2020 (includes SMS & MMS, Telecommunications Products & Services businesses, and Big Data);

* Reported Year over Year quarterly growth in Telecommunications Products & Services business revenue of $2.8 million or 580% compared to Q3 2020;

* Reported quarterly loss in SMS & MMS business revenue of $1.78 million or 40% compared to Q3 2020;

* Reported no revenues in Big Data;

* Reported gross profits of $967,075 which was an increase of $346,532 or 56% compared to Q3 2020;

* Reported quarterly cost of revenue of $4.93 million which was an increase of $0.67 million or 16% compared to Q3 2020;

* Reported quarterly net loss of $1,037,172 which was an increase of $0.33 million or 47% compared to Q3 2022;

* Basic and Diluted loss per share of $0.02;

* On November 30, 2021, FingerMotion had $1,116,448 in cash, a working capital surplus of $5,489,655 and a positive shareholders equity of $5,667,780;

* Total Assets were $9.95 million, Total Current Liabilities were $4.28 million and Total Liabilities were $4.28 million; and