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Aug 31, 2020
Fingermotion Q2 2021 Earnings Report
Reported increased revenues for the second quarter ended August 31, 2020.
Key Takeaways
FingerMotion reported a 77.5% increase in revenues compared to the same quarter in 2019. The company expects this revenue growth to continue throughout the fiscal year, targeting an annual revenue of over $16 million for fiscal year 2021.
Revenues increased by 77.5% compared to the same quarter in 2019.
Revenues for the six-month period ended August 31, 2020, increased by 114% compared to the same period in 2019.
SMS business has become a top revenue generator.
Company is investing in developing and marketing e-commerce platforms, expecting a return on investments by January 2021.
Fingermotion
Fingermotion
Forward Guidance
FingerMotion anticipates continued revenue growth throughout the fiscal year, aiming for over $16 million in annual revenue for fiscal year 2021.
Positive Outlook
- Expected continued revenue growth throughout the fiscal year.
- Targeting an annual revenue of over $16 million for fiscal year 2021.
- SMS business has become a top revenue generator.
- Investments in e-commerce platforms expected to yield returns by January 2021.
- Company anticipates further increasing growth quarter over quarter.
Challenges Ahead
- Forward-looking statements are subject to risks and uncertainties.
- Actual future results may differ materially from expectations.
- International, national, and local economic and market conditions could impact results.
- Competition and changes in the Chinese telecommunications market pose risks.
- Business disruptions, such as technological failures and cybersecurity breaches, could affect results.