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
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
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.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100