Logiq Enters the Roofing Market, Further Expands its Presence in the Home Improvement Vertical

Rhea-AI Summary

Logiq, a provider of digital consumer acquisition solutions, announced its expansion into the roofing market, aiming to enhance its presence in the home improvement sector. CEO Brent Suen expressed enthusiasm for the growth potential, highlighting that the roofing vertical is currently valued at $102 billion in the Americas, with projections to reach $156 billion by 2030. The U.S. roofing market includes over 100,000 companies, presenting significant opportunities for Logiq. Additionally, the search term 'roof repair' peaked last year, suggesting increased consumer interest in home improvement.

Positive

• Expansion into the roofing market enhances Logiq's home improvement offerings.
• Roofing market in the Americas valued at $102 billion, projected to grow to $156 billion by 2030.
• Over 100,000 roofing companies in the U.S. indicate significant market opportunities.
• Peak interest in 'roof repair' search term reflecting heightened consumer demand.

Negative

• None.

NEW YORK, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ), a provider of digital consumer acquisition solutions, today announced its entry into the roofing market to expand its presence in the home improvement market.

“I am thrilled about our roofing industry expansion, as our team has worked hard to develop and add this vertical to our home improvement offering,” said Brent Suen, Chief Executive Officer. “We’re excited about the growth potential in this market and are always looking at new opportunities to serve our clients that will also be beneficial to our revenue and margin growth thereby building shareholder value.”

The following highlights are indicative of the future market growth opportunities in the home improvement vertical:

• Per IBIS World, roofing is the 16th largest vertical in the construction industry; at $102 billion in the Americas and is forecast to grow to $156 billion by 2030 (per Morrissey Construction).
  
  
• There are presently over one hundred thousand roofing companies in the US which represents a sizeable market opportunity for Logiq.
  
  
• The search term “roof repair” reached its highest volume ever last year, reaching more than 200% the fifteen-year average that preceded 2021.
  

About Logiq
Logiq Inc. is a U.S.-based provider of e-commerce and digital customer acquisition solutions by simplifying digital advertising. It provides data-driven, end-to-end marketing through its results solution or providing software to access data by activating campaigns across multiple channels.

Connect with Logiq: Website | LinkedIn | Twitter | Facebook The Company’s Digital Marketing business includes a holistic, self-serve ad tech platform. Its proprietary data-driven, AI-powered solutions allows brands and agencies to advertise across thousands of the world’s leading digital and connected TV publishers.

Important Cautions Regarding Forward Looking Statements
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the Safe Harbor created by those sections. This press release also contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation that relate to Logiq’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon.

These statements speak only as of the date of this press release. Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Logiq’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. In particular and without limitation, this press release contains forward‐looking statements regarding our products and services, the use and/or ongoing demand for our products and services, expectations regarding our revenue and the revenue generation potential of our products and services, our partnerships and strategic alliances, potential strategic transactions, the impact of global pandemics (including COVID-19) on the demand for our products and services, industry trends, overall market growth rates, our growth strategies, the continued growth of the addressable markets for our products and solutions, our business plans and strategies, and the valuation and success of the businesses after completion of the transaction, if any, and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC) including its Annual Report on Form 10-K and any subsequent public filings, and filings made pursuant to Canadian securities legislation that are available on www.sedar.com, including under the heading “Risk Factors” in the Company’s Canadian Prospectus.

Logiq undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

Media & Investor Contact
ir@logiq.com

 

FAQ

What is Logiq's recent move in the stock market?

Logiq announced its entry into the roofing market to expand its home improvement services.

What is the market size of the roofing industry according to Logiq?

The roofing industry is valued at $102 billion in the Americas and is expected to grow to $156 billion by 2030.

How many roofing companies are there in the U.S.?

There are over 100,000 roofing companies operating in the U.S.

What trend was observed in 'roof repair' searches?

The search term 'roof repair' reached its highest volume ever, exceeding 200% of the fifteen-year average in 2021.

What is the stock symbol for Logiq?

Logiq is traded under the stock symbol LGIQ.