- Logiq (LGIQ) has reported financial results for Q3 2021
- Revenue increased 11 per cent to C$7.8 million
- Gross margins for DataLogiq and AppLogiq both improved substantially
- Consolidated gross margin was 29.5 per cent, up 13.7 per cent from Q3 2020
- The company’s President, Brent Suen, spoke to our Caroline Egan to shed light on the results
- Logiq is a U.S.-based global provider of e-commerce and fintech business enablement solutions
- Logiq (LGIQ) is up by 1.28 per cent and is currently trading at $3.17 per share
Logiq (LGIQ) has reported financial results for Q3 2021.
Financial highlights
- Revenue increased 11 per cent to C$7.8 million
- Overall gross profit increased 108 per cent to $2.3 million
- Consolidated gross margin was 29.5 per cent, up 13.7 per cent from Q3 2020
- Gross margin for DataLogiq, the company’s end-to-end e-commerce marketing solution, improved from 18.9 to 28.2 per cent
- Gross margin for AppLogiq, its mobile commerce platform-as-a-service, improved from 12.1 to 31.7 per cent
- Net loss was $5.8 million or $(0.25) per basic and fully diluted share for the quarter, compared to a net loss of $2.9 million in Q3 2020
- Cash, cash equivalents and restricted cash totaled $5.3 million as of September 30, 2021, compared to $5.8 million as of June 30, 2021
AppLogiq operational highlights
- Received Indonesian Government approval of an annual lending rate to offer micro-lending services to more than 50 million Indonesians
- Launched an exclusive mobile payment option for driver’s license psychological testing in Indonesia following a partnership with Mentalku, the exclusive government-licensed provider of such tests
- Announced the launch of a super app in Indonesia that combines AppLogiq’s mobile e-commerce and fintech solutions
- Entered into a preliminary agreement with Novaji Introserve to provide home delivery and mobile financial services to millions of unbanked and underbanked people in Nigeria
DataLogiq operational highlights
- Added auto, life and health insurance verticals to Logiq Consumer Marketplace
- Integrated SMS, email and call center support into the Logiq Digital Marketing (LDM) platform
- Joined forces with Peer39 to provide small and medium-sized brands with the industry’s largest and most scaled pre-bid keyword, contextual and brand safety solutions for modern markets
- Launched geofencing-based targeting on the LDM platform, enabling marketers to customize messaging based upon consumer location context
- Partnered with IRIS.TV to provide greater transparency and performance in streaming video for e-commerce marketers
- Teamed up with GumGum to add contextual intelligence to multi-channel marketing campaigns
- Added direct media buying to the LDM platform for access to web, mobile and connected TV and audio media providers across the Asia Pacific region
Other operational highlights
- Engaged The Benchmark Company to assist in restructuring DataLogiq and AppLogiq into independent publicly traded companies
Logiq’s President, Brent Suen, stated,
“As we look ahead to the final weeks of 2021, we see positive trends continuing to emerge across our business lines, keeping us on course for continued revenue growth and gross margin expansion in the final quarter, and setting the stage for our best year to come.”
He joined Caroline Egan to dig into the results.
The company will hold a conference call today at 5:00 pm ET to discuss the results with its shareholders.
Logiq is a U.S.-based global provider of e-commerce and fintech business enablement solutions.
Logiq (LGIQ) is up by 1.28 per cent and is currently trading at $3.17 per share as of 1:43 pm ET.