Hello Pal Announces Third Consecutive Monthly Revenue over $2,000,000

Rhea-AI Summary

Hello Pal International Inc. reported a revenue of $2,309,889 CAD for February 2021, marking its third consecutive month surpassing $2,000,000. This month's revenue is the second highest achieved and exceeded expectations despite the traditionally low Lunar New Year revenue period. The company noted a 15% gross margin and an increase in non-China revenue, which now constitutes 16% of total revenue, up from 10% in the previous month. Additionally, daily livestreamers from outside China now outnumber those within.

Positive

• Achieved over $2,309,889 CAD in revenue for February 2021, third consecutive month above $2 million.
• Monthly revenue is the second highest to date.
• Non-China revenue increased to 16% of total revenue from 10% the previous month.
• Number of non-China livestreamers exceeded China livestreamers.

Negative

• None.

VANCOUVER, B.C., March 19, 2021 /PRNewswire/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE:HP Frankfurt:27H OTC:HLLPF), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it achieved over $2,309,889 CAD (11,711,138 CNY) in revenue for the month of February 2021, making it the third consecutive month the Company has achieved monthly revenue of over $2,000,000.

Operating under a CAD/CNY exchange rate of 5.07 as of March 1, 2021, the monthly revenue of $2,309,889 CAD was the second highest it had achieved to date and was much higher than had been anticipated given the shortened month, as well as traditionally weak revenue from China over the Lunar New Year season when many hosts stop livestreaming for as long as a month.  Gross margin for the period was 15%.

"What was supposed to have been a very weak month for us revenue-wise has proven to be a nice surprise," said KL Wong, Founder and Chairman of the Company.

The Company's non-China revenue continues to grow, and now accounts for 16% of its total revenue, having increased from 10% the previous month.  Significantly, the number of non-China livestreamers broadcasting daily has now exceeded China livestreamers.

"As we start to diversify away from the China livestreaming market, we're very pleased to see our results in the overseas livestreaming market continue to grow, particularly in the broadening base of livestreamers broadcasting on Hello Pal," added Mr. Wong.

To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: investors@hellopal.com.

About the Hello Pal Platform

The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.

Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable.  Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.

THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Hello Pal International
www.hellopal.com
p 604-683-0911

 

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SOURCE Hello Pal International Inc.

FAQ

What was Hello Pal's revenue for February 2021?

Hello Pal International Inc. reported a revenue of $2,309,889 CAD for February 2021.

How many consecutive months has Hello Pal achieved revenue over $2 million?

Hello Pal has achieved revenue over $2 million for three consecutive months.

What percentage of Hello Pal's revenue comes from non-China sources?

As of February 2021, non-China revenue accounts for 16% of Hello Pal's total revenue.

What was Hello Pal's gross margin in February 2021?

The gross margin for Hello Pal in February 2021 was 15%.

How did the Lunar New Year impact Hello Pal's revenue?

Despite traditionally low revenues during the Lunar New Year, Hello Pal's revenue for February was higher than anticipated.