Tingo, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 03:34 pm EST
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Tingo, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 291.7 million compared to USD 176.99 million a year ago. Net income was USD 90.71 million compared to net loss of USD 44.68 million a year ago.
For the nine months, sales was USD 817.44 million compared to USD 317.54 million a year ago. Net income was USD 195.91 million compared to USD 4.65 million a year ago. Basic earnings per share from continuing operations was USD 0.16.
Agri-Fintech Holdings, Inc., formerly Tingo, Inc., is an agri-fintech company. It offers a platform service through the use of smartphones-device as a service (using GSM technology) to empower a marketplace to enable subscribers/farmers within and outside of the agricultural sector to manage their commercial activities of growing and selling their production to market participants both domestically and internationally. The ecosystem provides a one-stop shop solution to enable such subscribers to manage everything from airtime top-ups, bill pay services for utilities and other service providers, and access to insurance services and microfinance to support their value chain from seed to sale.