On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

FingerMotion Inc. (NASDAQ: FNGR) Marks a 21% Year-Over-Year Growth in Revenue for Q3 2022; Anticipates Significant Growth in the Next Fiscal year

  • FingerMotion attributed its strong finish for Q3 2022 to strategic investments and collaborations with key players in the industry
  • It hopes to carry on this performance trend into the next fiscal year, tapping into the investments and collaborations made so far 
  • The company also plans to capitalize on the insurtech sector while also forming new brands designed to offer mobile device protection for the Chinese market

FingerMotion (NASDAQ: FNGR), recently released its financial results for the third quarter of the 2022 financial year (“Q3 2021”), posting a 21% growth in revenue from the same period in 2020. Martin Shen, the Chief Executive officer (“CEO”) of the company, termed this a “strong finish” while also expressing his optimism for even better performance in the next fiscal year (https://nnw.fm/rALlr). 

This growth for Q3 2022 was attributed to the company’s strategic investments and collaborations with key players in the industry, most notably China Mobile in the Fujian province. 

“The third quarter finished strong with $5.9 million in revenue and an acceleration of our top-up business,” Mr. Shen noted. “During the quarter, we were aggressive in rolling out our collaboration with China Mobile in Fujian province,” he added.

Gross profit for Q3 2022 stood at $967,075, representing a 56% year-over-year growth from the same period the previous year. In addition, its Telecommunications Products and Services business posted total revenue of $2.8 million, a 580% year-over-year quarterly growth from the same period in 2020.

FingerMotion closed the 2021 calendar year with significant investment into its insurtech sector. Its services agreement with Pacific Life Re, through its big data analytic division, Sapientus, coupled with its collaboration with Xuanlian Tianxia Technology and Happy Life Insurance, make it a formidable force in the Insurtech space. Mr. Shen is confident that in the new year, revenue should ramp up as the insurtech business starts to unfold, all while tapping into the big data in the insurance market that is projected to be valued at $12 billion by 2023 (https://nnw.fm/qhcss).

The company has also formed new brands designed to offer mobile device protection in China, with Beta testing already underway. Mr. Shen is optimistic that this investment will represent a significant revenue stream in the next fiscal year, even as it works on other aspects of its operations, including creating new insurance products.

“Our teams are uniquely qualified to create new insurance products that push the envelope of what is possible. Our goal is to enable the creation and distribution of insurance solutions that match consumer profiles, offer more flexibility and ultimately cost savings to the consumer while at the same time creating underwriting efficiencies that will eventually drop down to the bottom line, making our collaboration particularly rewarding in the long run,” noted Mr. Shen.

In January 2022, FingerMotion became the latest technology company listed on the Nasdaq Capital Market in a move that offered it great exposure within the investment community. Mr. Shen believes that this, coupled with the investments made over the 2021 calendar year, will continue to strengthen the company’s balance sheet and profitability, carrying on the trend posted in Q3 2022.

For more information, visit the company’s website at www.FingerMotion.com.

NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://nnw.fm/FNGR

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is part of the InvestorBrandNetwork.

Archives

Select A Month

NetworkNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.418.1217