NEW YORK, NY -- December 2, 2021 -- InvestorsHub NewsWire
-- Logiq,
Inc. (OTCQX:
LGIQ, NEO:
LGIQ), a global provider of award-winning consumer acquisition
solutions, expects revenues for its fourth quarter ending December
31, 2021 to exceed $10 million, up more than 28% sequentially and
up more than 52% over the same year-ago quarter.
"Our strengthening performance reflects the continued
transformation of our business that has been refocused over this
past year on higher quality, more profitable revenue streams,"
stated Brent Suen, president of Logiq. "In fact, we have seen
strong gross margin improvement every quarter of this year.
"This has also been driven by product and service level
improvements, as well as more effective marketing that has
attracted new customers to our platform, with this also resulting
in a record revenue month in November."
Fourth quarter 2021 gross margin is expected to continue to
expand to record levels, exceeding at least 33.0%, compared to
29.5% in the previous quarter and 21.1% in the same year-ago
quarter. The same year-ago quarter was the first quarter to
demonstrate the benefits of the company's refocus on higher margin,
higher quality revenue streams, and the elimination of lower margin
revenue, such as from white label partnerships that were impacted
by the global pandemic.
"We believe the progress we have made is keeping us on the path
to profitability for both of our business segments and further
unlocking shareholder value," continued Suen. "This includes our
plans to separate AppLogiq and DataLogiq into two publicly traded
companies by the end of the year, which continues to advance
smoothly and on schedule. Our teams are also on fire, morale is
super high, and strategic partners and customers are coming to us
for deals."
The business separation is expected to enable each company to
better capitalize on the abundant growth and M&A opportunities
in their respective e-commerce and fintech markets. Management has
already established an extensive pipeline of potential acquisitions
for AppLogiq and DataLogiq, and is currently in discussions with
several targets that would be complementary and accretive to
earnings if completed. The company believes it already has the
funding and advisors in place to facilitate such potential
transactions, although there can be no assurances that it will
complete any of the potential transactions with companies in its
M&A pipeline.
"As we've stated earlier, our analysis of recent comparable
public market valuations and private equity funding for fintech
companies in emerging markets sets a standalone valuation for just
AppLogiq to be $100 million or more—and that is today, before any
potential M&As," added Suen. "However, we do not see the
markets attributing much, if any, valuation of this business
segment to Logiq's overall valuation, and we see things similarly
for DataLogiq. This is why we are anticipating a tremendous
unlocking of shareholder value following the separation that is
soon to be complete."
The company plans to provide another financial update in January
2022.
About Logiq
Logiq Inc. is a U.S.-based leading global provider of e-commerce
and fintech business enablement solutions. Its DataLogiq business
provides a data-driven, end-to-end marketing and consumer
acquisition solution. Its AI-powered LogiqX™ data engine delivers
valuable consumer insights that enhance the ROI of online marketing
spend and personalization. The company's Fixel technology offers
simplified online marketing with critical privacy features.
Its AppLogiq business, Logiq's platform-as-a-service, branded as
CreateApp™, enables small and medium-sized businesses worldwide to
easily create and deploy a native mobile app for their business
without technical knowledge or background. CreateApp™ empowers
businesses to reach more customers, increase sales, manage
logistics, and promote their products and services in an easy,
affordable, and highly efficient way.
CreateApp™ is offered in 14 languages across 10 countries and
three continents, including some of the fastest-growing emerging
markets in Southeast Asia. The company's PayLogiq, branded as
AtozPay™ in Indonesia, offers mobile payments, and GoLogiq, branded
as AtozGo™ in Indonesia, offers hyper-local food delivery services.
Connect with Logiq: Website | LinkedIn | Twitter| Facebook.
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 and Section 21E of the Securities Exchange
Act of 1934 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 proposed
separation of Logiq's AppLogiq and DataLogiq business into two
public companies, including, without limitation, our ability to
successfully locate and consummate the contemplated strategic
transactions, the structure of any such transaction, timing of such
transaction, and the valuation of the businesses after completion
of any such transaction, if any, and other risks described in the
Company's prior press releases and in its filings with the
Securities and Exchange Commission (SEC) including its Annual
Report on Form 10-K and any subsequent public filings, and filings
made pursuant to Canadian securities legislation that are available
on www.sedar.com, including under the heading "Risk Factors" in the
Company's Canadian Prospectus.
Logiq undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by law. New
factors emerge from time to time, and it is not possible for Logiq
to predict all of them, or assess the impact of each such factor or
the extent to which any factor, or combination of factors, may
cause results to differ materially from those contained in any
forward-looking statement. Any forward-looking statements contained
in this press release are expressly qualified in their entirety by
this cautionary statement.
Company Contact
Brent Suen, President
Logiq, Inc.
Email
contact
Media & Investor Contact
Ronald Both or Justin Lumley
CMA Investor & Media Relations
Tel (949) 432-7566
Email
contact
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