NEW YORK, Jan. 06, 2022 (The Globe Newswire) – Logic, Inc. (OTCQX: LGIQ, NEO: LGIQ), the global provider of consumer acquisition solutions, announced preliminary unaudited results for the fourth quarter and year ended December 31, 2021.
Total revenue for the fourth quarter is expected to be $12.3 million, an increase of 87% from $6.6 million in the same quarter last year.
Gross margin for the quarter is also expected to expand to record levels above 34.0%. This compares with 29.5% in the previous quarter and 21.1% in the same quarter last year.
These results exceed the company’s previous revenue guidance for the fourth quarter by $2.3 million, reflecting an exceptionally strong end to the year. It also puts full-year revenue on track to reach nearly $36.5 million. Gross margin for the fourth quarter of 2021 is expected to exceed previous guidance by one hundred basis points.
“Improving revenue performance during 2021 demonstrates our team’s commitment to driving the transformation of our overall business and providing a vision for future profitability,” said Brent Swain, President of Logic. “As we refocus our efforts on higher quality, more profitable revenue streams and adapt to changing market dynamics, we have also delivered a solid improvement in gross margin each quarter of 2021. In fact, our gross margin in the fourth quarter of 2021 more than doubled. Compared to the fourth quarter of 2021. 2020.”
“We believe this strong progress across the board keeps us on a profitable path for both our business segments,” Swain continued. “It also reinforces our plans to separate our DataLogiq and AppLogiq businesses into two independent publicly traded companies as another way to increase shareholder value.”
The company recently stated that it has finalized its agreement with Lovarra, a publicly traded full-reporting company, to transfer Logiq’s AppLogiq’s assets to Lovarra. The transfer is now almost finished.
“Our strong performance and planned separation of our businesses have further strengthened our position through several merger and acquisition targets,” added Swain. “We have a number of acquisition candidates, and we believe such targets will increase overall EBITDA.”
The company believes it already has the financing and advisors to facilitate such potential transactions, although there are no assurances that any of them will complete as planned.
Swain added, “Looking ahead into 2022, we expect our momentum to continue to build, driven by the growing demand for fintech/e-commerce solutions in emerging markets worldwide and high-growth e-commerce market segments in the US. Consumers are becoming increasingly important For our customers, this is where we believe Logiq outperforms anyone else in the industry. We believe we are still in the early stages of growth, so we expect 2022 to be our biggest year yet.”
Based on its potential pipeline of deals, which includes mergers and acquisitions, potential partnerships or customer relationships, the company has set a target of between $50 million and $75 million in annual revenue by the end of 2022 for both business and profitability segments by early 2023.
The company plans to report its full annual results and host a conference call with investors in March.
Logiq, Inc. is a leading provider of consumer acquisition solutions for brands and agencies. The company’s Consumer Market provides data-driven lead generation services across more than 14 market segments, from home repair and insurance to mortgage lending and refinancing.
The company’s digital marketing business includes a comprehensive and self-service advertising technology platform. Proprietary, data-driven solutions powered by artificial intelligence enable brands and agencies to advertise across thousands of the world’s leading digital and connected TV publishers.
Connect with Logic: website | LinkedIn | Twitter| Facebook social networking site.
Important notices 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 Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to security. The port created by those divisions. This press release also contains forward-looking statements and forward-looking information within the meaning of Canada’s securities legislation that relates to Logiq’s current expectations and opinions about future events. Any statements that express or include discussions about expectations, beliefs, plans, goals, assumptions, events, or future performance (often, but not always, through the use of words or phrases such as “likely to produce,” “expected to,” “expected” “will continue”, “expected”, “expects”, “believes”, “estimates”, “intends”, “plans”, “expects”, “expects”, “strategy”, “objectivity” and “expects”) are not Historical facts and may be forward-looking statements and may include estimates, assumptions and uncertainties that could cause actual results or results to differ materially from those expressed in such forward-looking statements. No guarantee can be given that such expectations will prove correct and such forward-looking statements included in this press release should not be relied upon inappropriately.
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 disclosed or implied by such forward-looking statements. In particular and without limitation, this press release contains forward-looking statements regarding our products and services, continued use and/or demand for our products and services, projections regarding our revenue and revenue generation potential for our products and services, our strategic partnerships and alliances, and the impact of global pandemics (including COVID- 19) on demand for our products and services, industry trends, aggregate market growth rates, our growth strategies, continued growth of addressable markets for our products and solutions, business plans and strategies, closing of the Lovarra stock distribution and complete separation of Logiq’s AppLogiq and DataLogiq businesses into two public companies, taxable nature for such a transaction and the ability to obtain FINRA’s approval of such dividends, our ability to successfully locate and complete the contemplated strategic transactions, the structure of any such transaction, the timing of such transaction, and the business valuation after the completion of any such transaction, if any, and other risks described in the company’s previous press releases and in its files with the Securities and Exchange Commission (SEC) including its annual report on Form 10-K and any subsequent public filings, filings made in accordance with Canadian securities legislation 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 appear from time to time, and Logic cannot predict all of them, or assess the effect of each such factor or the extent to which any factor, or combination of factors, might cause results to differ materially from those factors. contained in any forward-looking statement. Any forward-looking statements contained in this press release expressly qualify in their entirety under this cautionary statement.
Brent Swain, President
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