Lingo Media Corporation (TSX-V:LM) has reported positive 4Q 2021 and 2021 financial results as the company builds its portfolio of innovative digital learning technologies.
In a statement, Lingo CEO Gali Bar-Ziv said the company continued to focus on growth and profitability, while investing in its product portfolio and growing its sales and marketing teams.
“We intend to pursue more partnerships and expanding our reach to gain greater growth opportunities for the upcoming years,” Bar-Ziv added.
The EdTech company reported a profit for 4Q 2021 of C$773,304 or $0.02 per share, compared to $609,576 or $0.02 per share for the same period in 2020. The company posted revenue of $1,296,759 for 4Q 2021, compared to $958,766 for the same period in 2020.
READ: Lingo Media sees third quarter revenue jump as it expands sales
For the financial year ending December 31, 2021, revenue came in at $2,639,850, up from $2,102,054 in 2020. Lingo reported a profit of $779,093 or $0.02 per share compared to a profit of $1,110,379 or $0.03 per share for the 2020 financial year.
The company highlighted operational successes for the 2021 financial year, including the launch of the Speak2Me for desktop learning, the launch of the Ola App which allows students to practice speaking and pronunciation from their smartphones, and the redesign of its English, Spanish, French, Mandarin, and business programs.
Lingo Media is a EdTech company developing and marketing products for language learners of all stages from classroom to boardroom.
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