Business
Logiq Reports Fiscal Year and Record Q4 2021 Financial Results
Logiq Reports Fiscal Year and Record Q4 2021 Financial Results.
About this update from Logiq Inc.
[{"type":"text","content":"\n FY21 gross profit increased 73.8% YOY hitting $11.1 million on $37.3 million in revenueFY21 gross margin percentage increased significantly to 29.6% versus 16.8% a year ago Record 4Q-21 revenue exceeds Company’s Jan. 6, projection by $800,000, doubling YOY to $13.1 million Reorganized business focus demonstrated higher quality revenue streams and wider margins M&A pipeline of EBITDA accretive acquisitions seen as key catalyst of 2022 growthCompany projects 2022 revenue up 30% YOY to $50-$75 million, profitability in early 2023Closed Battle Bridge Deal – projected as synergistic and accretive to 2022 earnings NEW YORK, April 01, 2022 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ, NEO: LGIQ), a global provider of award-winning digital consumer acquisition solutions, today announced its results for the fourth quarter and full year ended December 31, 2021. Recent Highlights Completed the transfer of AppLogiq assets (rebranded as GoLogiq) into its majority owned public entity Lovarra (OTC: LOVA) to unlock the value of this dynamic, southeast Asia focused fintech; those shares’ spin-off to shareholders is slated to close in mid-2022Restructured senior management teams to facilitate both Logiq and GoLogiq execution, strategic initiatives and M&AClosed acquisition of Battle Bridge Labs companies, including Section 2383, LLC (collectively, “Battle Bridge”) assets, seen as synergistic and accretive to 2022 earnings Financial Highlights Revenues for the full year 2021 were $37.3 million, as the Company pivoted its new business development to higher margin customers.FY 2021 gross profit increased 73.8% to $11.1 million for a 29.6% gross margin.Dec. 31, 2021, cash, cash equivalents and restricted cash totaled $1.6 million.Excluding AppLogiq, Logiq FY21 revenues rose 51.8% to $23 million. Q4 2021 Operational Highlights Acquired 78.5% control position of Lovarra (OTC: LOVA), a fully reporting U.S. public company to enable LGIQ shareholders’ direct participation in AppLogiq’s growthThe Logiq Consumer Marketplace (LCM) advanced scoring system for customer acquisitions drove new customer program offering ramp-up. LCM serves several high-value customers and brands across a diverse range of industries Closed Battle Bridge Acquisition Yesterday, the Company announced it has completed the acqui...