Logiq Inc announced its preliminary 3Q revenue has topped $7.7 million, which is up nearly 10% from the same quarter a year ago.
The global provider of consumer acquisitions solutions attributed the increase to higher gross margins, which Logiq said had nearly doubled to 29% from the 15.8% it posted in the comparable quarter last year.
Logiq is set to release its full 3Q 2021 results on November 15.
READ: Logiq explains benefits of its Logiq Consumer Marketplace, which helps companies win new customers
“Our strong year-over-year performance reflects the continued transformation of our business that is now focused on higher margin, higher quality revenue streams,” Brent Suen, president of Logiq said in a statement.
“Over the past year we have also established a stronger foundation for addressing the abundant e-commerce opportunities worldwide.”
Suen added: “We believe the progress we have made, particularly with the expansion of gross margin, puts us squarely on the path to profitability and unlocking greater shareholder value.”
New York-based Logiq is an international e-commerce and fintech solutions provider. Its DataLogiq business provides a data-driven, end-to-end e-commerce marketing solution. Its AI-powered LogiqX data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s Fixel technology offers simplified online marketing with critical privacy features.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas