Lingo Media Corporation (TSX-V:LM) has announced its results for the second quarter of 2022, which saw the company boost its engagement with customers and expand its sales pipeline.
In a statement, Lingo Media president and CEO Gali Bar-Ziv said the educational technology (EdTech) company continued to enhance and improve its solutions and offering while adding resources in marketing and sales.
“We are committed to expanding our product offerings which will provide Lingo Media with a distinct competitive advantage in the marketplace and better position the company for sales growth,” Bar-Ziv said.
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The company highlighted a number of operational wins from the quarter, including added security features and tools for its assessment and testing platform; enhanced speed by optimizing download time; and the design of gamification tools to improve engagement for its primary school product.
It also launched email campaigns to teachers, subscribers, distributors, and direct customers which resulted in increased engagement, sales inquiries, and expansion of its sales pipeline.
The Toronto-based company said for the quarter ended June 30, 2022, it achieved revenue of $980,664, compared to revenue of $1,030,518 in the corresponding year-ago quarter.
Lingo Media posted a net profit for the quarter of $552,278 or $0.02 per share, compared to a profit of $707,561 or $0.02 per share for 2Q 2021.
Income before amortization, share-based payments, depreciation, finance charges, and taxes was $545,830, compared to $626,560 for the same period in 2021.
Lingo Media is an EdTech company that is ‘Building a Multilingual World’ by developing and marketing products for learners of new languages through various life stages, from classroom to boardroom.
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