MICT Informs Superb Business Performance In Q3

MICT is engaged in the creation of computing devices and software, and the sale of copyright goods and insurance products. It also helps people invest and control their assets. The condition of the stock is not the best at the moment, as it’s trading at the lowest price in the last year. Half a year ago, MICT cost $ 2.49, which is $ 0.2 less than the maximum price. The worth has been dipping since June, apart from temporary and insignificant increases. The last price the stock was bought and sold at was $ 1.32.
The company reported Q3 2021 Results of $ 18.5M in revenue, up to $ 6.2 million from Q2. Its gross profit blasted off more than 300% in one quarter to $ 2.7 million. Unlike profits, costs are much lower, with general administrative and sales and marketing costs combined to $ 8.1 million ($ 6.6 million and $ 1.5 million, respectively). Moreover, during this period, MICT received many local licenses, which allowed the insurance business to start operating in many regions of China. Of the types of service provision, B2B is growing at a good pace, it soared 50% and influenced the growth of income. Therefore, at the end of the quarter, the amount of cash was $ 105 million.