Welcome to our dedicated page for FingerMotion news (Ticker: FNGR), a resource for investors and traders seeking the latest updates and insights on FingerMotion stock.
FingerMotion, Inc. (NASDAQ: FNGR) is a mobile services and data company based in China, specializing in mobile payment and recharge services. The company offers Telecommunications Products and Services, Value Added Products and Services, Short Message Services (SMS), Multimedia Messaging Services (MMS), a Rich Communication Services (RCS) platform, Big Data Insights, and a Video Games Division (inactive). FingerMotion generates revenue by providing mobile payment and recharge services to customers of telecommunications companies in China.
FingerMotion (NASDAQ:FNGR) reported a record quarterly revenue of $4.98 million for Q2 2023, a 2.5% increase from the previous quarter. The Telecommunications Products & Services revenue rose by 64% to $1.10 million. However, SMS & MMS revenue fell by 42% to $1.53 million. The company incurred a loss of $1.54 million, a 6% increase compared to Q2 2022. As of August 31, 2022, cash was $1.98 million with positive shareholders' equity of $2.17 million. The company anticipates further growth in its mobile recharge and big data divisions as operations stabilize post-lockdown.
FingerMotion, Inc. (NASDAQ: FNGR) announced its participation in the Emerging Growth Conference scheduled for October 12, 2022, at 2:30 p.m. ET. CEO Mr. Shen will present a corporate overview and respond to questions during the 30-minute session. The presentation aims to engage both individuals and institutions interested in FingerMotion's growth in mobile services and data. An archived version of the session will be available for those unable to attend live. The conference is designed to showcase innovative companies and their advancements in various growth sectors.
FingerMotion (NASDAQ:FNGR) has achieved significant milestones for its subsidiary, Sapientus, in big data analytics. The company has strengthened its partnership with Pacific Life Re, upgraded its analytic engine for better insurance risk rating, and rolled out an API for real-time feedback to insurance companies. Additionally, seven patents have been granted by the National Copyright Administration of China, validating the innovative capabilities of Sapientus in the fintech sector. CEO Martin Shen emphasizes the potential for further commercialization.
FingerMotion, Inc. (Nasdaq:FNGR) reported its Q1 2023 financial results, posting a record revenue of $4.86 million. Despite this, the company experienced significant declines in key revenue segments: a 20% drop in SMS & MMS and a 13% decrease in Telecommunications Products. The quarterly loss increased to $1.44 million from $0.91 million year-over-year. General expenses rose by 5%, while R&D costs surged 56%. However, the mobile recharge business showed potential growth, aided by the transition to 5G. As of May 31, 2022, assets totaled $9.21 million.
FingerMotion, Inc. (Nasdaq: FNGR) has launched new mobile device protection products through its subsidiary, TengLian, beginning in Henan, China, which has a mobile subscriber base of 90 million. This initiative targets the broader Chinese market of 1.2 billion subscribers, capitalizing on a projected $10.6 billion market for mobile protection products. The offerings include enhanced protection for device components and trade-in programs. The partnership with a Fortune 500 insurance company positions FingerMotion to meet customer needs effectively, and CEO Martin Shen anticipates significant revenue growth from this venture.
FingerMotion, Inc. (NASDAQ: FNGR) announced its participation as a Gold Sponsor at the 12th Annual LD Micro Invitational Conference in California. The company's main presentation is set for June 8, 2022, at 2:30 p.m. PT, hosted by CEO Martin Shen. Live access will be available online. FingerMotion specializes in mobile payment and recharge platform solutions in China and aims to significantly grow its user base and ecosystem, eventually targeting over 1 billion users in the China market.
FingerMotion (NASDAQ:FNGR) reported its FY 2022 financials, showing a 37% revenue increase to $22.93 million. Significant growth was noted in Telecommunications Products & Services revenue, up 170% to $5.45 million. Gross profits increased by 71% to $2.81 million, while the net loss rose 13% to $4.94 million, translating to a loss per share of $0.12. The company maintained a working capital surplus of $4.93 million and positive shareholder equity of $5.09 million. Future initiatives include enhancing gross margins.
FingerMotion, Inc. (NASDAQ:FNGR) announced its presentation at the Planet MicroCap Showcase 2022 on May 4, 2022, at 8:00 AM PT (11:00 AM ET) in Las Vegas. CEO Martin Shen will lead the presentation, which attendees can access via a webcast link. The company focuses on mobile payment and recharge solutions in China, aiming to grow its user base organically and create a high-engagement ecosystem. FingerMotion seeks to serve over 1 billion users and expand to other regional markets in the future.
Argus Research has initiated coverage on Fingermotion, Inc. (NasdaqCM: FNGR), highlighting its advantageous position in telecommunications services in China. The firm projects substantial growth driven by the company's mobile payment solutions and partnerships with telecom giants like China Mobile and China Unicom. For fiscal 2022, FNGR reported revenue exceeding $17.3 million, a 50% year-over-year increase. Argus estimates a fair value of $9.00 per share, suggesting significant upside potential from current trading levels around $3.00.
Argus Research has initiated coverage on Fingermotion, Inc. (NasdaqCM: FNGR), highlighting the company's innovative strategies in mobile payment and recharge solutions, targeting China's major telecom providers. The report notes a projected revenue increase over 50% year-over-year, reaching approximately $17.3 million in the first nine months of fiscal 2022. The analysis suggests a fair value estimate of $9.00 per share, significantly above the current trading price of $3.00. Fingermotion aims to capitalize on its telecom ties and new technology markets, especially in InsurTech.
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