Today the cost of Engine Gaming and Media is soaring by over 52% to $4.8400 from its previous close of $3.1800. Why has the stock market today soared rapidly? Earlier this morning, the Company has posted its fourth-quarter also its fiscal year 2021 Financial earnings. Nowadays, its market cap is almost 48 million dollars while its trading volume of 2,814,735. The Company demonstrated outstanding results in the fiscal year 2021, which ended on August 31, 2021. The Company reported revenues of $37.2 million, which exceeded the corresponding target by 253%. By the way, last year its revenue was $10.5 million as you can notice it is significantly improved.
Hence, through agreements with media organizations, the Company focuses on live electronic sports and interactive gaming experiences. And this year, the net loss is considerably increased to $3.4 million, which came to $13.5 million. Also, as of August 31, the Company’s cash represented $15.3 and $8.6 million in receivables. The highlight of its earnings is that the revenues were affected by an increase in SaaS, Advertising, and Games development: $6,4 million by 147 %, $26,7 million by 37%, and $4.7 million, a 72% growth. At the time of writing, the prices are continuously gaining momentum.