(Alliance News) - Inteliqo Ltd on Friday announced its move to "tangible financial success" in its first quarter, and expects increased revenue going forward once it launches the Langaroo app.
The stock was up 1.6% at 16.38 pence in London on Friday.
The Guernsey-based company, which provides marketing, product development and other services for consumer technology brands, said it generated over USD250,000 in pretax profit for the first quarter ended June 30 with income of USD400,000.
Inteliqo, which was incorporated in May 2022, said this "signifies a pivotal point in our journey, as we transition from vision to tangible financial success."
Meanwhile, preparations are ongoing to fully launch the Langaroo mobile application. Inteliqo announced on August 8 that it had acquired exclusive global sales and marketing rights to the app for the next 20 years.
Langaroo, the trading name of Ipedia Technologies Commercial Brokers LLC, promises a "comprehensive [messaging] suite" through its Langaroo Chat feature with real-time translation in over 130 languages. Inteliqo said Langaroo Chat will be a "gateway to effortless global communication," enabling social and business conversations across language barriers.
"The horizon appears promising as we prepare to launch the Langaroo app on the Google Play and Apple App store later this month," Inteliqo said.
Langaroo's website langaroo.co gives the launch date as August 11. A version of the app is available to download on the app store with text, audio, image scan and multimedia translations, but without messaging features.
On the acquisition, Inteliqo said: "This strategic move positions us for wider market exposure and user adoption, auguring well for increased revenues in the upcoming quarters."
By Emma Curzon, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
