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FingerMotion, Inc. Reports FY 2025 Financial Results
Newsfileยท 2025-05-30 12:00
Financial Performance - FingerMotion reported annual revenue of $35.61 million, a decrease of $0.18 million or 0.5% compared to FY 2024 [4] - The company experienced a year-over-year decline in Telecommunications Products & Services revenue of $5.59 million or 17% compared to FY 2024 [4] - SMS & MMS business revenue grew by $5.52 million or 206% year-over-year compared to FY 2024 [4] - Big Data revenue declined by $0.39 million or 118% year-over-year compared to FY 2024 [4] - Revenue from the DaGe Platform was $0.08 million in FY 2025, while revenue from the Command & Communication (C2 Platform) was $0.19 million [4] Expense Management - General and administrative expenses decreased by $137,710 or 2% during the year [3] - Marketing costs increased by $136,206 or 97% due to the promotion of the newly launched DaGe App platform [3] - Research and development expenses decreased by $66,792 or 10% due to savings from data access and usage fees [3] Profitability and Loss - Gross profits were reported at $2.76 million, a decrease of $1.10 million or 28% compared to FY 2024 [4] - Annual cost of revenue increased by $0.91 million or 3% compared to FY 2024, totaling $32.84 million [4] - Operating expenses rose by $1.03 million or 13% compared to FY 2024, totaling $8.71 million [4] - The company reported an annual net loss of $5.11 million, an increase of $1.30 million or 34% compared to FY 2024 [4] Financial Position - As of February 28, 2025, FingerMotion had $1.13 million in cash, a working capital surplus of $6.90 million, and positive shareholders' equity of $13.66 million [4] - Total assets were reported at $48.82 million, with total current liabilities of $35.13 million and total liabilities of $35.16 million [4] - The company had 57,141,186 common shares issued and outstanding as of February 28, 2025 [4] Strategic Outlook - The CEO expressed confidence in the performance of the SMS & MMS business and the potential growth from the DaGe and C2 platforms [3] - The company aims to expand its customer base and diversify offerings to enhance market penetration [3] - FingerMotion envisions serving over 1 billion users in the China market and expanding to other regional markets [5]