FingerMotion Provides Supplemental Quarterly Guidance; Says 'Given Its Sporadic Nature, Quarterly Revenue Recognition On A Go-forward Basis Will Be Variable Making It Difficult To Issue Revenue And Earnings Guidance'; 9-Months Ended Nov 30, Revenue $27.6M
Portfolio Pulse from Benzinga Newsdesk
FingerMotion, Inc. (NASDAQ:FNGR) provided supplemental quarterly guidance, indicating variability in quarterly revenue recognition due to the sporadic nature of its business segments. For the nine months ended November 30, 2023, revenue was $27.6 million, a 30% increase year-over-year, with gross profit rising 90% to $3.1 million. The company's CEO, Martin Shen, emphasized the importance of focusing on long-term trends rather than short-term fluctuations, highlighting the company's diverse portfolio and adaptive strategies for future growth.
January 22, 2024 | 2:13 pm
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FingerMotion's supplemental guidance indicates variability in revenue recognition, with a 30% increase in 9-month revenue and a 90% increase in gross profit. The company's focus on long-term trends and diverse portfolio may reassure investors despite short-term fluctuations.
The positive revenue and gross profit growth figures are likely to be well-received by investors, signaling the company's strong performance and potential for future growth. The CEO's emphasis on long-term trends over short-term fluctuations may also instill confidence in the company's strategic direction. However, the acknowledgment of variability in revenue recognition could introduce some caution among investors.
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