Business
Logiq Expects Q4 2021 Revenue to Exceed $10 Million, up more than 52%, with Continued Gross Margin Expansion
Logiq Expects Q4 2021 Revenue to Exceed $10 Million, up more than 52%, with Continued Gross Margin Expansion.
About this update from Logiq Inc.
[{"type":"text","content":"\n NEW YORK, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ, NEO: LGIQ), a global provider of award-winning consumer acquisition solutions, expects revenues for its fourth quarter ending December 31, 2021 to exceed $10 million, up more than 28% sequentially and up more than 52% over the same year-ago quarter. “Our strengthening performance reflects the continued transformation of our business that has been refocused over this past year on higher quality, more profitable revenue streams,” stated Brent Suen, president of Logiq. “In fact, we have seen strong gross margin improvement every quarter of this year. “This has also been driven by product and service level improvements, as well as more effective marketing that has attracted new customers to our platform, with this also resulting in a record revenue month in November.” Fourth quarter 2021 gross margin is expected to continue to expand to record levels, exceeding at least 33.0%, compared to 29.5% in the previous quarter and 21.1% in the same year-ago quarter. The same year-ago quarter was the first quarter to demonstrate the benefits of the company’s refocus on higher margin, higher quality revenue streams, and the elimination of lower margin revenue, such as from white label partnerships that were impacted by the global pandemic. “We believe the progress we have made is keeping us on the path to profitability for both of our business segments and further unlocking shareholder value,” continued Suen. “This includes our plans to separate AppLogiq and DataLogiq into two publicly traded companies by the end of the year, which continues to advance smoothly and on schedule. Our teams are also on fire, morale is super high, and strategic partners and customers are coming to us for deals.” The business separation is expected to enable each company to better capitalize on the abundant growth and M&A opportunities in their respective e-commerce and fintech markets. Management has already established an extensive pipeline of potential acquisitions for AppLogiq and DataLogiq, and is currently in discussions with several targets that would be complementary and accretive to earnings if completed. The company believes it already has the funding and advisors in place to facilitate such potential transactions, altho...