Welcome to our dedicated page for Logiq news (Ticker: LGIQ), a resource for investors and traders seeking the latest updates and insights on Logiq stock.
Logiq, Inc. (LGIQ) generates news across two distinct but connected themes: its legacy role in digital consumer acquisition and its newer focus on health, biotech, medical devices, and animal health. Historically, the company has issued updates on its AI-powered programmatic advertising platform, including fraud detection capabilities, client wins, and corporate initiatives related to its DataLogiq (DLQ) business and proposed SPAC merger with Abri SPAC I, Inc.
More recent announcements emphasize Logiq's strategic shift toward the medical field. Investors and observers can find coverage of the definitive agreement to acquire MedLab Essentials, LLC, a company focused on cell and gene therapy and cell-based therapies for challenging cancers, age-related diseases, and longevity applications. News also includes details of the definitive agreement to acquire EVIMATE, a developer of AI-enabled vital sign monitoring and remote patient monitoring devices.
Another important area of Logiq news involves its veterinarian division, associated with Amino Medic Ltd., and the launch of AVR BIOVET™, a copper-based organic feed additive designed to support growth, immune function, and overall health in animals. Company communications discuss the product's composition, testing, and potential role in animal health and organic production.
On this page, readers can review press releases related to acquisitions, business model updates, capital markets plans, SPAC-related milestones, and product introductions in both digital advertising and health-focused lines of business. For those tracking LGIQ, the news flow provides insight into how the company describes its transition from e-commerce and ad tech toward cell and gene therapy, longevity medicine, medical devices, and animal health solutions.
Logiq (LGIQ) has received approval from the Indonesian Government to provide micro-lending services to over 50 million members of BPJSTK, focusing on financial inclusion. This comes after a delay due to COVID-19 but aims to leverage the growing demand for digital financial services, projected to grow at a 34% CAGR to reach $8.6 billion by 2025. Logiq will roll out services initially to 5 million drivers and 6,000 government employees, allowing loans up to 20% of annual salaries. The partnership with KMSB will develop a mobile fintech platform to support these services.
Logiq, Inc. (NEO: LGIQ) announced executive stock transactions on Sept. 10, 2021. CEO Tom Furukawa sold 13,488 shares to cover tax liabilities from restricted stock units, marking the initial use of a new program allowing share sales for tax withholding. The option will be discontinued for corporate officers. In contrast, President Brent Suen purchased 24,000 shares at an average price of $3.21 each. Suen clarified that the sale should not be seen as a sign of decreased confidence in the company's performance, as tax-related sales are common in larger firms.
Logiq, Inc. (NEO: LGIQ) has launched a new mobile payment option for driver license psychological testing in Indonesia, partnering with Mentalku, the government-licensed test provider. The service, integrated into the Mentalku app, aims to facilitate payments for millions seeking licenses. The pilot program utilizes Logiq's AtozPay™ technology, available at Mentalku testing centers across East Java. Following the pilot, expansion is planned for 2022, including features for mobile airtime top-ups and digital transactions. This collaboration enhances Mentalku's online services, aligning with its vision for growth.
Logiq, Inc. (NEO: LGIQ) has partnered with IRIS.TV to enhance transparency and performance in streaming video for e-commerce marketers. This collaboration introduces IRIS_ID, a unique identifier for individual videos, facilitating brand-safe targeting for connected TV (CTV) advertising. eMarketer anticipates programmatic CTV spending will reach $2.37 billion in 2021, highlighting the sector's growth. Logiq aims to optimize video campaign performance through this partnership, providing small-to-mid-sized brands with access to video-level data for effective advertising strategies.
Logiq, Inc. (NEO: LGIQ), a leading provider of e-commerce and fintech solutions, launched CreateApp 4.0, featuring a robust inventory management system and enhanced food ordering capabilities. A new proprietary data platform, Radix, consolidates data across mobile commerce, aiding in analytics for unbanked users in emerging markets. The company also initiated a $500,000 digital marketing campaign with Civet Digital to expand product awareness. These developments aim to enhance user experience and drive growth in the rapidly evolving m-commerce sector.
Logiq (NEO: LGIQ) (OTCQX: LGIQ) has been invited to present at the Emerging Growth Conference on September 1, 2021. CEO Tom Furukawa will present at 1:00 p.m. ET. The webcast will be available live and for replay. Logiq recently reported significant top-line growth with a record gross margin expansion to 29.5%. The presentation will also highlight Logiq's new Digital Marketing platform, enhancing market reach and advertising capabilities.
Logiq, Inc. (LGIQ) reported Q2 2021 results with a 3% sequential revenue increase to $8.3 million. Gross margin improved to 29.5%, a rise of 1.9 percentage points from Q1 2021 and 16.4 points year-over-year. DataLogiq revenues surged 49% to $5.5 million, while AppLogiq revenues fell 50% to $2.8 million. The company saw a net loss of $5.0 million, up from $1.7 million in Q2 2020. Cash reserves reached $5.8 million. Significant developments included the launch of a new audio marketing channel and partnerships enhancing their mobile payment solutions.
Logiq, Inc. (NEO: LGIQ) (OTCQX: LGIQ), a leading provider of e-commerce and fintech solutions, will host a conference call on August 16, 2021, at 4:30 p.m. ET to discuss its second quarter financial results for the period ending June 30, 2021. A press release detailing the financial results will precede the call. Logiq's platform, including services like CreateAPP™, AtozPay™, and AtozGo™, supports small and medium businesses in enhancing their online presence and streamlining operations.
Logiq, Inc. (NEO: LGIQ) (OTCQX: LGIQ) has partnered with GumGum to enhance its digital advertising capabilities for e-commerce marketers. The partnership integrates GumGum's contextual intelligence solution, Verity™, into Logiq Digital Marketing's platform. This solution uses AI to analyze various media types, providing better context for ad placements. The integration, expected in Q3 2021, aims to improve targeting efficiency while protecting brand integrity. Verity has shown a lower cost-per-click compared to behavioral advertising, highlighting its potential operational benefits.
Logiq announced the partial exercise of the over-allotment option related to its C$5,929,302 initial public offering that closed on June 21, 2021. An additional 201,700 Units were issued, raising total gross proceeds to approximately C$6,534,402. Each Unit comprises one share of common stock and one warrant, exercisable at C$3.50 for 36 months. The funds will support the development of data analytics tools, marketing, and working capital needs. The offering was led by Research Capital Corporation.