TMX Group Minimal (TSE:X – Get Ranking) – Equities researchers at Countrywide Bank Money upped their FY2023 EPS estimates for shares of TMX Team in a analysis observe issued on Tuesday, May 2nd. Countrywide Financial institution Money analyst J. Gloyn now forecasts that the company will write-up earnings of $7.54 per share for the calendar year, up from their preceding forecast of $7.51. The consensus estimate for TMX Group’s current total-calendar year earnings is $7.61 for each share.
A quantity of other research companies also not long ago issued studies on X. BMO Money Marketplaces lifted their selling price target on shares of TMX Team from C$155.00 to C$158.00 in a investigate report on Wednesday. Countrywide Bankshares increased their target value on TMX Group from C$148.00 to C$152.00 and gave the corporation a “sector conduct” rating in a report on Tuesday. Deutsche Lender Aktiengesellschaft slash their cost goal on TMX Team from C$145.00 to C$143.00 in a report on Wednesday, February 8th. TD Securities greater their price aim on TMX Team from C$145.00 to C$150.00 and gave the organization a “maintain” score in a exploration be aware on Wednesday. Finally, Scotiabank boosted their target price tag on shares of TMX Team from C$159.00 to C$161.00 in a investigation take note on Thursday.
TMX Group Inventory General performance
Shares of X opened at C$139.70 on Friday. TMX Group has a 1 12 months very low of C$123.03 and a 1 12 months large of C$142.92. The inventory has a marketplace capitalization of C$7.78 billion, a P/E ratio of 14.21, a P/E/G ratio of 12.65 and a beta of .55. The enterprise has a debt-to-equity ratio of 26.38, a brief ratio of .01 and a recent ratio of 1.00. The firm’s fifty working day relocating ordinary is C$135.96 and its two-hundred working day moving common is C$135.29.
TMX Group (TSE:X – Get Ranking) previous issued its earnings results on Monday, February 6th. The enterprise reported C$1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.73 by C$.01. The company experienced profits of C$274.10 million in the course of the quarter, as opposed to analyst estimates of C$280.68 million.
TMX Team Dividend Announcement
The organization also not long ago introduced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of report on Friday, June 2nd will be compensated a dividend of $.87 for each share. The ex-dividend date is Thursday, May perhaps 18th. This signifies a $3.48 annualized dividend and a dividend produce of 2.49{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. TMX Group’s dividend payout ratio is presently 35.40{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
TMX Team Minimal operates exchanges, markets, and clearinghouses mainly for funds marketplaces in Canada and internationally. The company operates by way of 4 segments: Worldwide Remedies, Insights & Analytics Capital Development Derivatives Investing and Clearing and Equities and Set Cash flow Trading & Clearing.
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Just before you look at TMX Group, you will want to hear this.
MarketBeat retains monitor of Wall Street’s major-rated and ideal performing investigation analysts and the shares they propose to their shoppers on a day-to-day basis. MarketBeat has discovered the five shares that prime analysts are quietly whispering to their customers to purchase now ahead of the broader market catches on… and TMX Team was not on the list.
While TMX Group presently has a “Maintain” score among analysts, top-rated analysts consider these 5 stocks are much better purchases.
Agnico Eagle Mines Confined (NYSE:AEM – Get Ranking) (TSE:AEM) – Investment analysts at National Bank Money slash their FY2023 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a investigation notice issued on Monday, October 31st. Countrywide Lender Economical analyst M. Parkin now anticipates that the mining corporation will put up earnings of $1.78 for each share for the 12 months, down from their preceding estimate of $1.79. The consensus estimate for Agnico Eagle Mines’ latest total-yr earnings is $2.17 per share.
Agnico Eagle Mines (NYSE:AEM – Get Score) (TSE:AEM) past issued its quarterly earnings data on Thursday, October 27th. The mining organization described $.52 earnings for every share (EPS) for the quarter, beating the consensus estimate of $.43 by $.09. Agnico Eagle Mines had a return on fairness of 6.80{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a internet margin of 10.68{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The business enterprise experienced profits of $1.45 billion through the quarter, as opposed to analyst estimates of $1.43 billion. Throughout the identical period of time in the preceding year, the business earned $.60 EPS. Agnico Eagle Mines’s quarterly income was up 47.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in comparison to the exact same quarter final calendar year.
Various other equities analysts have also issued reports on AEM. StockNews.com initiated coverage on Agnico Eagle Mines in a research report on Wednesday, October 12th. They issued a “keep” score for the company. Barclays boosted their selling price goal on Agnico Eagle Mines from $62.00 to $63.00 and gave the firm an “obese” rating in a investigation report on Monday, October 17th. Stifel Nicolaus diminished their selling price focus on on Agnico Eagle Mines from C$100.00 to C$89.00 in a study report on Wednesday, July 20th. The Goldman Sachs Team started coverage on Agnico Eagle Mines in a study report on Monday, September 12th. They established a “get” ranking and a $55.00 rate focus on for the firm. Eventually, TheStreet downgraded Agnico Eagle Mines from a “b-” rating to a “c” ranking in a analysis report on Tuesday, July 12th. 1 exploration analyst has rated the stock with a hold score and 7 have offered a invest in rating to the company’s inventory. According to MarketBeat.com, the organization presently has a consensus score of “Moderate Obtain” and a consensus goal rate of $71.67.
Agnico Eagle Mines Price tag General performance
Shares of AEM opened at $45.76 on Wednesday. The organization has a credit card debt-to-equity ratio of .08, a rapid ratio of 1.04 and a present-day ratio of 2.17. The stock has a 50 day uncomplicated shifting common of $42.38 and a 200 day basic relocating typical of $47.27. Agnico Eagle Mines has a 52-7 days reduced of $36.69 and a 52-week significant of $67.14. The business has a marketplace capitalization of $20.85 billion, a PE ratio of 31.34, a P/E/G ratio of 20.82 and a beta of .76.
Institutional Investors Weigh In On Agnico Eagle Mines
A variety of institutional traders and hedge money have a short while ago manufactured modifications to their positions in the stock. Koshinski Asset Administration Inc. acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at $178,000. CWM LLC lifted its stake in Agnico Eagle Mines by 314.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 1st quarter. CWM LLC now owns 4,595 shares of the mining company’s inventory valued at $281,000 after buying an more 3,487 shares for the duration of the time period. Virginia Retirement Units ET AL purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at $2,473,000. Zurcher Kantonalbank Zurich Cantonalbank elevated its stake in Agnico Eagle Mines by 79.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 154,451 shares of the mining company’s inventory valued at $9,460,000 soon after getting an supplemental 68,485 shares for the duration of the interval. Finally, Strs Ohio acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at $11,367,000. Institutional traders very own 57.62{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the firm’s inventory.
Agnico Eagle Mines Dividend Announcement
The business enterprise also a short while ago disclosed a quarterly dividend, which will be compensated on Thursday, December 15th. Stockholders of document on Thursday, December 1st will be paid a dividend of $.40 per share. This signifies a $1.60 dividend on an annualized basis and a dividend yield of 3.50{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The ex-dividend day is Wednesday, November 30th. Agnico Eagle Mines’s dividend payout ratio is now 109.59{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
Agnico Eagle Mines Limited engages in the exploration, improvement, and generation of mineral properties in Canada, Mexico, and Finland. It operates as a result of Northern Enterprise and Southern Enterprise segments. The corporation largely creates and sells gold deposits, as nicely as explores for silver, zinc, and copper deposits.
Even more Looking through
This instant news warn was produced by narrative science know-how and monetary knowledge from MarketBeat in order to deliver visitors with the fastest and most correct reporting. This tale was reviewed by MarketBeat’s editorial workforce prior to publication. Remember to send any questions or feedback about this tale to make contact with@marketbeat.com.
Prior to you take into account Agnico Eagle Mines, you can expect to want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and finest performing study analysts and the stocks they endorse to their purchasers on a everyday foundation. MarketBeat has recognized the 5 stocks that leading analysts are quietly whispering to their purchasers to get now right before the broader market catches on… and Agnico Eagle Mines was not on the record.
Whilst Agnico Eagle Mines now has a “Invest in” rating between analysts, prime-rated analysts feel these five stocks are superior purchases.
Taseko Mines Limited (TSE:TKO – Get Score) (NYSE:TGB) – Investment analysts at Nationwide Financial institution Fiscal reduced their FY2022 EPS estimates for Taseko Mines in a report issued on Monday, July 18th. Countrywide Financial institution Economical analyst S. Nagle now expects that the organization will earn $.14 for each share for the yr, down from their prior forecast of $.17. The consensus estimate for Taseko Mines’ latest full-year earnings is $.16 per share.
Taseko Mines (TSE:TKO – Get Ranking) (NYSE:TGB) very last posted its quarterly earnings information on Wednesday, Might 4th. The enterprise described C$.02 EPS for the quarter, missing analysts’ consensus estimates of C$.03 by C($.01). The organization experienced profits of C$118.33 million in the course of the quarter.
A number of other investigate analysts also recently weighed in on the firm. BMO Capital Markets reduce their price concentrate on on Taseko Mines from C$3.50 to C$3.25 in a investigation be aware on Friday, May possibly 6th. TD Securities decreased their price goal on Taseko Mines from C$3.75 to C$3.25 and set a “get” rating on the inventory in a investigate report on Friday, Might 6th. Stifel Nicolaus reduced their price tag target on Taseko Mines from C$3.40 to C$2.50 in a investigation report on Tuesday. Scotiabank decreased their rate goal on Taseko Mines from C$3.00 to C$2.00 in a report on Thursday, July 7th. Last but not least, Countrywide Bankshares diminished their price objective on Taseko Mines from C$1.85 to C$1.70 and set a “sector conduct” rating on the stock in a report on Tuesday. 1 analyst has rated the inventory with a sell rating, two have assigned a maintain ranking and a few have assigned a acquire ranking to the enterprise. According to knowledge from MarketBeat, the firm has a consensus rating of “Maintain” and a consensus value goal of C$2.73.
Taseko Mines Price tag Efficiency
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Shares of TKO opened at C$1.25 on Wednesday. The inventory has a sector cap of C$357.86 million and a P/E ratio of 6.58. The business’s fifty working day moving ordinary is C$1.69 and its 200 day moving normal is C$2.26. Taseko Mines has a 12-thirty day period low of C$1.15 and a 12-month significant of C$3.00. The firm has a quick ratio of 2.33, a present ratio of 3.06 and a financial debt-to-fairness ratio of 143.79.
Taseko Mines Confined, a mining corporation, acquires, develops, and operates mineral attributes. The organization explores for copper, molybdenum, gold, niobium, and silver deposits. It retains 75{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} fascination in the Gibraltar mine positioned in British Columbia. It also retains 100{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} desire in Yellowhead copper project, the Aley niobium undertaking, and the New Prosperity gold and copper job situated in British Columbia and the Florence copper project found in Arizona.
Advisable Tales
This quick news warn was produced by narrative science technological know-how and economic details from MarketBeat in order to present visitors with the speediest and most exact reporting. This tale was reviewed by MarketBeat’s editorial crew prior to publication. Remember to send out any issues or reviews about this tale to get hold of@marketbeat.com.
Should you spend $1,000 in Taseko Mines suitable now?
In advance of you contemplate Taseko Mines, you can expect to want to listen to this.
MarketBeat keeps monitor of Wall Street’s major-rated and greatest doing exploration analysts and the stocks they advise to their clients on a daily foundation. MarketBeat has discovered the five stocks that prime analysts are quietly whispering to their consumers to buy now before the broader sector catches on… and Taseko Mines was not on the listing.
When Taseko Mines now has a “Hold” rating amid analysts, top rated-rated analysts think these 5 shares are greater purchases.
NOVA LIMA, Brazil–(BUSINESS WIRE)–Afya Limited, or Afya (Nasdaq: AFYA), today announced that it will report Second-Quarter and First Half 2022 Financial Results for the period ended June 30, 2022, following the close of the market on Monday, August 22nd, 2022 and will host a corresponding conference call and webcast at 05:00 pm ET.
A live and archived webcast of the call will be available on the Investor Relations section of the Company’s website at https://ir.afya.com.br/.
To participate in Afya’s Second-Quarter and First Half 2022 conference call, please follow the instructions below:
Afya also announces today the publication of its 2Q22 sell-side analysts’ consensus figures. The consensus figures are based on the forecasts of analysts who follow Afya results on a regular basis. This information was collected between July 15, 2022 and July 21, 2022, directly from the sell-side analysts.
These firms follow Afya on their own initiative and Afya is not responsible for their views. Afya is neither involved in the collection of the information nor in the compilation of the estimates.
The consensus estimate is based on estimates, forecasts and predictions made by third party financial analysts. It is not prepared based on information provided or checked by Afya and can only be seen as a consensus view on Afya’s results from an outside perspective. Afya has not provided input on these forecasts, except by referring to past publicly disclosed information. Afya does not accept any responsibility for the quality or accuracy of any individual forecast or estimate. This press release may contain forward-looking statements based on current assumptions and forecasts made by Afya or third parties. Various known and unknown risks, uncertainties and other factors could lead to material differences between Afya’s actual future results, financial situation, development or performance, and the estimates given here. Further information on these and other factors that could affect our financial results is included in filings we make with the Securities and Exchange Commission from time to time, including the section titled “Risk Factors” in our most recent Rule 424(b) prospectus. These documents are available on the SEC Filings section of the investor relations section of our website at: https://ir.afya.com.br/.
About Afya:
Afya is a leading medical education group in Brazil based on the number of medical school seats, delivering an end-to-end physician-centric ecosystem that serves and empowers students and physicians to transform their ambitions into rewarding lifelong experiences from the moment they join us as medical students through their medical residency preparation, graduation program, continuing medical education activities and offering digital products to help doctors enhance their healthcare services through their whole career.
Infosys Limited (NYSE:INFY – Get Rating) – Inventory analysts at Jefferies Monetary Team slash their FY2023 earnings for every share estimates for Infosys in a report unveiled on Sunday, June 5th. Jefferies Economic Group analyst A. Agarwal now forecasts that the technological innovation organization will earn $.75 for each share for the 12 months, down from their former estimate of $.77. Jefferies Money Team also issued estimates for Infosys’ FY2024 earnings at $.86 EPS and FY2025 earnings at $.97 EPS. Infosys (NYSE:INFY – Get Score) last issued its quarterly earnings information on Wednesday, April 13th. The engineering corporation claimed $.18 earnings for every share for the quarter, missing analysts’ consensus estimates of $.19 by ($.01). The firm had profits of $4.28 billion for the quarter, when compared to analysts’ anticipations of $4.30 billion. Infosys experienced a net margin of 18.17{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on fairness of 30.72{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. During the similar quarter in the preceding yr, the business enterprise gained $.16 EPS.
Several other analysts also just lately issued experiences on INFY. HSBC elevated shares of Infosys from a “hold” score to a “obtain” rating in a exploration take note on Tuesday, Might 31st. Macquarie started protection on shares of Infosys in a analysis observe on Monday, April 11th. They issued an “outperform” ranking for the corporation. StockNews.com raised shares of Infosys from a “maintain” ranking to a “obtain” score in a study be aware on Tuesday, April 26th. Bank of The us downgraded shares of Infosys from a “buy” score to a “neutral” rating and established a $24.50 value objective for the firm. in a analysis notice on Wednesday, February 23rd. Ultimately, Stifel Nicolaus lowered their price tag goal on shares of Infosys to $23.00 in a exploration observe on Wednesday, April 13th. Two expense analysts have rated the stock with a maintain score and 5 have assigned a get ranking to the company’s stock. According to MarketBeat, the corporation presently has a consensus ranking of “Buy” and a consensus target cost of $26.75.
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Shares of NYSE:INFY opened at $19.43 on Tuesday. Infosys has a 12 thirty day period small of $17.90 and a 12 thirty day period higher of $26.39. The business has a 50-day transferring regular rate of $20.67 and a 200 day going ordinary price of $22.60. The organization has a sector cap of $81.43 billion, a selling price-to-earnings ratio of 27.76, a PEG ratio of 2.51 and a beta of 1.03.
A quantity of hedge resources and other institutional investors have lately additional to or lowered their stakes in the business. Hussman Strategic Advisors Inc. grew its holdings in shares of Infosys by .6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} for the duration of the fourth quarter. Hussman Strategic Advisors Inc. now owns 78,000 shares of the technologies company’s inventory valued at $1,974,000 right after shopping for an extra 500 shares in the course of the very last quarter. Buckingham Cash Administration Inc. grew its holdings in shares of Infosys by 1.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the course of the initial quarter. Buckingham Capital Management Inc. now owns 40,768 shares of the technology company’s inventory valued at $1,015,000 soon after acquiring an supplemental 596 shares for the duration of the past quarter. Stokes Family Place of work LLC lifted its position in Infosys by 2.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the course of the third quarter. Stokes Relatives Business LLC now owns 23,934 shares of the technological know-how company’s inventory valued at $533,000 after obtaining an extra 599 shares during the time period. Experienced Fiscal Advisors LLC lifted its place in Infosys by 160.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} all through the very first quarter. Expert Economical Advisors LLC now owns 1,056 shares of the know-how company’s inventory valued at $26,000 right after purchasing an extra 650 shares through the time period. Lastly, Raymond James Monetary Products and services Advisors Inc. lifted its placement in Infosys by 4.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the initial quarter. Raymond James Economical Products and services Advisors Inc. now owns 16,735 shares of the engineering company’s inventory valued at $417,000 soon after buying an further 652 shares in the course of the period of time. 15.42{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the inventory is currently owned by institutional investors and hedge funds.
The firm also just lately declared a dividend, which was paid on Wednesday, June 1st. Shareholders of history on Wednesday, June 1st have been issued a $.177 dividend. This is a favourable adjust from Infosys’s previous dividend of $.10. The ex-dividend date was Tuesday, Might 31st. Infosys’s payout ratio is at this time 50.00{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
Infosys Confined, together with its subsidiaries, presents consulting, technological know-how, outsourcing, and future-generation electronic services in North The usa, Europe, India, and internationally. It gives application advancement and administration, impartial validation, product engineering and management, infrastructure management, company application management, help and integration, and enterprise course of action administration services.
See Also
This immediate news warn was produced by narrative science engineering and financial knowledge from MarketBeat in buy to provide readers with the speediest and most exact reporting. This story was reviewed by MarketBeat’s editorial crew prior to publication. Make sure you mail any inquiries or comments about this tale to [email protected]
Must you make investments $1,000 in Infosys proper now?
Before you look at Infosys, you can expect to want to hear this.
MarketBeat keeps track of Wall Street’s leading-rated and ideal executing study analysts and the shares they suggest to their shoppers on a every day basis. MarketBeat has discovered the five shares that top analysts are quietly whispering to their purchasers to purchase now in advance of the broader market place catches on… and Infosys was not on the checklist.
When Infosys at this time has a “Get” score amid analysts, top-rated analysts believe these 5 shares are improved purchases.
Revenue Jumps 612{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $357.8 million
Gross Profit Improves 62.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $21.1 million
Mining Operations Begin Transitioning to the U.S.
QINGDAO,China, May 2, 2022 /PRNewswire/ — SOS Limited (“SOS” or the “Company”) (NYSE: SOS) today reported its full year financial results for the twelve-months ended December 31, 2021.
Revenue was $357.8 million, 612{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} over the twelve-months ended December 31, 2020. Gross Profit increased to $21.1 million from $13.0 million, over the same period.
Results from Operations
Revenue
Net revenue was $357.8 million, up 612{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} over the prior period. The robust growth of revenue demonstrated the strong and effective execution of the Company’s strategy, mainly due to rapid market expansion and the addition of crypto-mining and commodity trading operations. Growth was driven by taking advantage of our block-chain expertise.
Audited condensed consolidated Statements of comprehensive of loss
(US$ thousands, except share data and per share data, or otherwise noted)
As of December 31, 2021, SOS focused on six product lines including insurance marketing, telecom call centers, bank call center, SaaS services, cryptocurrency mining and commodity trading.
Our traditional business of insurance marketing increased 34{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $65.9 million year over year, as a result of rapid market expansion from regional to national customer base in China. We added commodity trading to our product mix during the year. We buy and sell commodity products such as sesame, sulfur, asphalt and circuit modular units. Our trading business recorded revenue of $275.4 million, which represents 77.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of total sales. We booked revenue of $15.4 million from our cryptocurrency mining business from a partial year of operation. We started generating revenue from our mining pools in February 2021 and mined 174.28 units of BTC and 2,770.09 units of ETH by the end of the second quarter. In July 2021, due to the Chinese government’s ban on certain types of cryptocurrency mining activities, we shut down our mining operations in China and began transitioning our crypto mining operations to the U.S. The Company launched its U.S. mining operations in Wisconsin this April.
Operating Costs
Operating costs increased to $336.8 million for the period ended December 31, 2021, compared to operating costs of $37.3 million for the period ended December 31, 2020. The increase in operating costs and expenses was driven primarily from the growth in our commodity trading inventory and data acquisition costs for our insurance marketing businesses and a share-based compensation plan. We also saw an increase from depreciation on cryptocurrency mining equipment, consulting and legal fees.
General and Administrative Expenses
General and administrative expenses were $62.4 million for the period ended December 31, 2021, representing an increase of approximately 21.5 times compared to general and administrative expenses of $2.9 million for the period ended December 31, 2020. The increase in general and administrative expenses was mainly associated with employee and management’s share-based compensation expenses of $33.5 million, professional and consultancy fee of $17.1 million, wages & salary expenses of $5.3 million, $1.2 million of bad debt expense and significant increases in legal expenses related to class action lawsuit against the Company and its management.
GAAP Operating Loss and EPS
Our net loss for the period ended December 31, 2021 was $43.9 million according to GAAP, compared to profit of $4.9 million for the period ended December 31, 2020. The loss resulted from increased expenses related to increased operating expenses, legal and consulting fees and share-based compensation expenses. Gross margin dropped to 6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in FY 2021 from 26{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the prior year driven by the significant growth in the lower margin commodity trading business, increased operating expenses and the interruption of crypto-mining operations.
GAAP EPS Basic was $(0.020) per share for the period ended December 31, 2021, as compared to $0.0135 per share for the period ended December 31, 2020.
GAAP EPS Diluted was $(0.018) per share for the period ended December 31, 2021, as compared to $0.0090 per share for the period ended December 31, 2020.
Income Tax
The company incurred $0.74 million in corporate income tax for the current period.
Balance Sheet and Cash Flow
As of December 31, 2021, the Company had cash and cash equivalents of $338.0 million, compared to $3.7 million for the period ended December 31, 2020. The net increase in cash flow was mainly due to its financing activity through registered direct offerings. The Company believes that its cash resources are adequate to fund its current operations and short-term growth initiatives. The Company, through its subsidiary, SOS International Trading Co., Ltd. purchased commodity for trading inventory of $96.1 million.
Cash Flow Used For Investment Activities
The Company, through its subsidiaries, SOS Information Technology New York Inc. and China SOS Ltd., acquired BTC and ETH mining equipment for an aggregate cost of approximately $31 0 million
Financing Activities
The Company received aggregate net proceeds of US$585.8 million from registered direct offerings during the year.
Audited condensed consolidated statement of cash flow
(US$ thousands, except share data and per share data, or otherwise noted)
31-Dec-20
31-Dec-21
Cash flows from operating activities:
US$”000″
US$”000″
Net (loss)
4,404
(49,251)
Adjustments:
Depreciation and amortization
2
5,203
Share-based compensation
506
33,537
Depreciation of ROU
843
Accretion of finance leases
152
Allowance for doubtful accounts-accounts receivable
1
963
Allowance for doubtful accounts-Other receivable
158
269
Impairment of cryptocurrencies
925
Loss on acquisition
5,679
–
Income from disposal of discountined operations
(63)
Inventory
–
(96,071)
Changes in operating assets and liabilities:
Accounts receivables
(2,065)
(15,894)
Ohter receivables
(36,019)
(125,861)
Amount due from related parties
(2,871)
(4,146)
crptocurrencies
–
(14,502)
Accrued liabilities
–
19,815
Accounts payable
(11,940)
28,409
Tax payable
292
(8,371)
Other payables
1,484
5,003
Amount due to related parties
(3,666)
868
Contract liability
546
(454)
Lease liabilities
Net cash （used in）in generating from operating activities:
(43,552)
(218,563)
Cash flows from investing activities:
Purchase of property, equipment and software
(501)
(33,034)
Investment in equity
–
0
Disposition of assets
3,500
–
Net cash (used in)generated from investing activities
2,999
(33,034)
Cash flows from financing activities:
Repayment of principle portion of lease liabilities
(1,764.00)
Proceeds from share issuance, net of issuance costs
3,578
585,839
Proceeds from private equity placement,net of issuance costs
39,973
–
Net cash generated from(used in) financing activities
43,551
584,075
Effect of exchange rates on cash
683
1,825
Net increase/(decrease), effect of exchange rate changes on cash and cash equivalent
3,680
334,303
Cash and cash equivalent at beginning of the period
42
3,722
Cash and cash equivalent at end of the period
3,722
338,026
Yandai Wang, the CEO comments that “In the past year, we have provided technical services through artificial intelligence and blockchain technologies by leveraging data-driven marketing, digital based commodity trading, digital supercomputer and emergency rescue technology. Through this we were able to realize revenue of $357.8 million as of December 31,2021, which represents 661{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} growth. over 2020.
In our data marketing business, we rely on artificial intelligence technology & comprehensive intelligent screening to acquire customers more effectively; we also utilize blockchain technology to solve the information security problems to provide customers with one-stop benchmark customer acquisition services; In our digital-based commodity trading segmentt, we make full use of the accurate traceability of blockchain technology, product quality assurance, smart contracts, Intelligent trading matching technology to provides a one-stop trust trading platform for customer trading; in emergency rescue, we team up with some industry experts to invest and design emergency rescue watches, Emergency rescue amphibious rescue boat.
We believe we are well-positioned to grow our business in all segments. Within China we are focused on data-driven insurance marketing, and commodity trading. In U.S. we have launched our supercomputing hosting center in Wisconsin.
Mainland China, as one of the world’s largest markets, demands huge amount of raw material products and food commodities to sustain its long -term growth. In 2020 we established our commodity trading business to bridge supply and demand by providing seamless trading exchange through our block-chain technology and plat-form. We started from green field and are proud to report that our commodity trading business generated revenue of $275million during the twelve -month period ended December 31,2021.
Our aspiration is to expand beyond China especially in North America. We are in the process of building a leading supercomputer center in North America which will provide customers with cryptocurrency mining capacity & hosting service.
One of the tools we used to accelerate this goal is the innovative mobile container data center. We believe it will improve user experience and be attractive to small to medium size customers. Our plans continue to proceed as we have secured a renewable energy supply of 25 MW at its facility in Price County Wisconsin, which is expected to be increased to 37MW.
We look forward to continued growth and expansion in both China and U.S.
About SOS Limited
SOS is an emerging blockchain-based and big data-driven marketing solution provider，SOS is also engaged in blockchain and cryptocurrency operations, which currently include cryptocurrency mining and maybe expand into cryptocurrency security and insurance in the future Since April 2021, we launched commodity trading via our subsidiary SOS International Trading Co. Ltd, The core infrastructure of SOS’ marketing data, technology and solutions to insurance and emergency rescue services is built on big data, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. SOS has created a cloud “software as a service (SaaS)” platform for emergency rescue services, with three major product categories: basic cloud, cooperative cloud, and information cloud. This system provides innovative marketing solutions to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry. For more information, please visit: http://www.sosyun.com/ .
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, our expectations for future financial performance, business strategies or expectations for our business. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. SOS cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Words such as “may,” “can,” “should,” “will,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target,” “look” or similar expressions may identify forward-looking statements. Specifically, forward-looking statements may include statements relating to the Company’s:
ability to execute its business plan;
changes in the market for SOS’ products and services; and
expansion plans and opportunities.
These forward-looking statements are based on information available as of the date of this press release and our management’s current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but not are limited to, the risk factors described by SOS in its filings with the Securities and Exchange Commission (“SEC”). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:
US government’s policies and regulatory oversight of crypto currency mining operation and our other operations;
SOS’s cryptocurrency mining, commodity trading and marketing solutions businesses are still under development, with many uncertainties in integration of these various business segments;
Failure to manage the newly launched commodities trading business effectively;
Loss of key customers in the commodity trading business;
failure to access a large quantity of power at reasonable costs could significantly increase SOS operating expenses and adversely affect our demand for SOS’s mining activities;
shortages in, or rises in the prices of mining machines may adversely affect the Company’s business;
any significant or prolonged failure in the data warehouse facilities and data mining facilities that SOS operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation;
security breaches or alleged security breaches of our data warehouses could disrupt SOS operations and have a material adverse effect on its business, financial condition and results of operation; and
other risks and uncertainties indicated in SOS’s SEC reports or documents filed or to be filed with the SEC by SOS.
Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
