Revenue for the fourth quarter is expected to total a record
Gross margin for the quarter is also expected to expand to record levels, exceeding 34.0%. This compares to 29.5% in the previous quarter and 21.1% in the same year-ago quarter.
These results exceed the company’s earlier revenue guidance for the fourth quarter by
“Our improving revenue performance throughout 2021 demonstrates our team’s commitment to driving a transformation of our business overall and providing visibility on future profitability,” stated
“We believe this strong progress across the board is keeping us on the path to profitability for both of our business segments,” continued Suen. “It also advances our plans to separate our DataLogiq and AppLogiq businesses into two independent publicly traded companies as another way to further unlock shareholder value.”
The company recently reported it had finalized its agreement with Lovarra, a fully-reporting public company, to transfer Logiq’s AppLogiq assets into Lovarra. The transfer is now nearly complete.
“Our strong performance and planned separation of our businesses has also strengthened our position with several M&A targets we have been pursuing,” added Suen. “We have a number of acquisition candidates, and believe that such targets would be accretive to EBITDA overall.”
The company believes it already has the funding and advisors in place to facilitate such potential transactions, although there can be no assurances that any will be completed as planned.
Suen added: “Looking ahead in 2022, we anticipate our momentum to continue to build, driven by the increasing demand for fintech/m-commerce solutions in emerging markets worldwide and high-growth e-commerce market segments in the
Based upon its potential deal pipeline, which includes M&A and potential partnerships or client relationships, the company has set a goal of
The company plans to report its full year results and host an investor conference call in March.
About
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.
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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, 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, the closing of the distribution of Lovarra stock and complete separation of Logiq’s AppLogiq and DataLogiq business into two public companies, the taxable nature of such transaction and the ability to obtain
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