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Aug 31, 2023

Fingermotion Q2 2024 Earnings Report

Experienced improved margins despite managing a more diversified product line.

Key Takeaways

FingerMotion reported its Q2 2024 financial results, demonstrating progress towards profitability. The company is actively managing its resources, with a highlight being the progress towards break-even.

The Company experienced improved margins in the quarter.

The Company is making excellent progress toward their goal of profitability.

The Company is making progress towards break even.

Research and development expenses dropped due to savings from data access fees charged by the telecom companies.

Total Revenue
$9.28M
Previous year: $4.98M
+86.2%
EPS
-$0.00257
Previous year: -$0.04
-93.6%
Gen & Admin Expense Increase
358,487%
Gross Profit
$1.84M
Previous year: $418K
+340.8%
Cash and Equivalents
$4.04M
Previous year: $1.98M
+103.7%
Free Cash Flow
-$2.3M
Previous year: -$3.37M
-31.8%
Total Assets
$20.3M
Previous year: $10.5M
+94.1%

Fingermotion

Fingermotion

Forward Guidance

The company is making excellent progress toward their goal of profitability and trajectory towards positive earnings results.