Business
Logiq Reports Q3 2021 Revenue Up 11% to $7.8 Million, with Gross Profit up 108% to $2.3 million
Logiq Reports Q3 2021 Revenue Up 11% to $7.8 Million, with Gross Profit up 108% to $2.3 million.
About this update from Logiq Inc.
[{"type":"text","content":"\n NEW YORK, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ, NEO: LGIQ), a global provider of award-winning consumer acquisition solutions, reported results for the third quarter ended September 30, 2021. All comparisons are to the same year-ago period unless otherwise noted. The company will hold a conference call at 5:00 p.m. Eastern time today to discuss the results (see dial-in information below). Q3 2021 Financial Highlights Revenue increased 11% to $7.8 million.Overall gross profit increased 108% to $2.3 million.Consolidated gross margin was 29.5%, up 13.7 percentage points.Gross margin for DataLogiq, the company’s data-driven, end-to-end e-commerce marketing solution, improved from 18.9% to 28.2%.Gross margin for AppLogiq, the company’s mobile commerce platform-as-a-service (PaaS), improved from 12.1% to 31.7%.Cash and cash equivalents and restricted cash totaled $5.3 million as of September 30, 2021. AppLogiq Operational Highlights Received Indonesian government approval of an annual lending rate for offering micro-lending services to more than 50 million Indonesians.Launched exclusive mobile payment option for driver license psychological testing in Indonesia following recently announced partnership with Mentalku, the exclusive government-licensed provider of driver license psychological testing in Indonesia.Announced planned launch of first-ever super app in Indonesia that combines all of AppLogiq’s mobile e-commerce and fintech solutions into one mobile app for easier access and interoperability.Entered into preliminary agreement with Novaji Introserve, a value-added IT and financial services company based in Lagos, to provide home delivery and mobile financial services to millions of unbanked and underbanked people in Nigeria. DataLogiq Operational Highlights Added auto, life and health insurance verticals to Logiq Consumer Marketplace (LCM).Integrated SMS, email and call center support into Logiq Digital Marketing™ (LDM) platform.Joined forces with Peer39 to provide small and medium sized brands (SMBs) with the industry’s largest and most scaled pre-bid keyword, contextual and brand safety solutions for modern markets.Launched geofencing-based targeting on the LDM platform, enabling marketers to customize messaging based upon context of consumer location.Partnered with IRIS....