TMNA - InvestorNewsBreaks - Tingo Inc. (TMNA) Announces Q1 2022 Financial Results
Tingo (OTC: TMNA), the leading agri-fintech company operating in Africa, has filed its quarterly report on Form 10-Q, wherein the company reported its financial results for the three months ended March 31, 2022. Among the highlights, Tingo reported $257.1 million and $65.5 million in consolidated revenue and operating income, respectively, during the first quarter of 2022. In addition, the company announced a 19.2% quarter-on-quarter growth in gross profit to $153.2 million, up from $128.5 million for Q4 2021. “We are very pleased to report strong operating performance for the first quarter of 2022 and the continued growth of our agri-fintech business,” said Tingo CEO Dozy Mmobuosi. “With the imminent launch of our ‘SuperApp,’ and the continue d development and expansion of our agri-fintech services, we aim to generate more commercial opportunities for our existing customers, as well as incentivize more rural farmers and communities to become subscribers and utilize our marketplace and financial technology platforms. We also look forward to accelerating our expansion throughout Africa, and now into Asia.”
To view the full press release, visit https://ibn.fm/csaYP
About Tingo Inc.
Tingo is the leading agri-fintech company operating in Africa, with a marketplace platform that empowers social upliftment through mobile, technology and financial access for rural farming communities. Tingo’s novel “device-as-a-service” model allows the company to add market leading applications to enable customers to trade, buy top ups, pay bills, access insurance and lending services. With 9.3 million existing customers, Tingo is seeking to expand its operations across select markets in Africa. Tingo’s strategic plan is to become the eminent pan-African agri-fintech business, delivering social upliftment and financial inclusion to millions of SME farmers and women-led businesses. For more information, visit the company’s website at www.TingoInc.com
NOTE TO INVESTORS: The latest news and updates relating to TMNA are available in the company’s newsroom at http://ibn.fm/TMNA
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