GINSMS Announces Financial Results for the Three and Nine Months Ended September 30, 2021

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CALGARY, Alberta, Nov. 11, 2021 (GLOBE NEWSWIRE) -- GINSMS Inc. (TSXV: GOK) (the “Corporation”) has announced its financial results for the third quarter ended September 30, 2021.

The complete financial results for GINSMS are available at www.sedar.com. Highlights include:

Revenue of $739,706 for the three-month period ended September 30, 2021 as compared of $766,793 for the three-month period ended September 30, 2020.
Gross Profit of $256,391 for the three-month period ended September 30, 2021 as compared to gross profit of $281,967 for the three-month period ended September 30, 2020.
Operating expenses and finance costs decreased from $239,817 for the three-month period ended September 30, 2020 to $233,775 for the three-month period ended September 30, 2021.
Net profit of $23,499 for three-month period ended September 30, 2021 as compared to a net profit of $43,479 for three-month period ended September 30, 2020.

Selected Profit and Loss Information

Financial Highlights	Three-month period ended September 30,2021(Unaudited)$		Three-month period ended September 30,2020(Unaudited)$		Nine-month period ended September 30,2021(Unaudited)$		Nine-month period ended September 30,2020(Unaudited)$

Revenue ($)
A2P Messaging Service	419,237		405,925		990,814		1,144,812
Software Products & Services	320,469		360,868		1,045,567		994,263
	739,706		766,793		2,036,381		2,139,075

Cost of sales ($)
A2P Messaging Service	316,110		304,449		787,379		882,416
Software Products & Services	167,205		180,377		514,550		506,848
	483,315		484,826		1,301,929		1,389,264
Gross profit ($)
A2P Messaging Service	103,127		101,476		203,435		262,396
Software Products & Services	153,264		180,491		531,017		487,415
	256,391		281,967		734,452		749,811
Gross margin
A2P Messaging Service	24.6	%	25.0	%	20.5	%	22.9	%
Software Products & Services	47.8	%	50.0	%	50.8	%	49.0	%
	34.7	%	36.8	%	36.1	%	35.1	%

Adjusted EBITDA(1) ($)Adjusted EBITDA margin	45,6456.2	%	48,9746.4	%	221,13610.9	%	(67,891(3.2	))%
Net profit / (loss) ($)Net profit / (loss) margin	23,4993.2	%	43,4795.7	%	149,5117.3	%	(88,602(4.1	))%
Profit / (loss) per share ($)
Basic (In Canadian cents)	0.015		0.029		0.099		(0.059	)
Diluted	0.015		0.029		0.099		N/A

(1)

Adjusted EBITDA is a non-IFRS measure which does not have any standardized meaning under IFRS. Adjusted EBITDA is related to cash earnings and is defined for these purposes as earnings before income taxes, depreciation and amortization (in both cost of sales and general and administration expenses), interest expenses, and also excludes certain non-recurring or non-cash expenditure and income. This non-IFRS measure is not recognized under IFRS and accordingly, shareholders are cautioned that this measure should not be construed as an alternative to net income determined in accordance with IFRS. The non-IFRS measure presented is unlikely to be comparable to similar measure presented by other issuers. The Corporation believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations that the Corporation can use to fund working capital requirements, service interest and principal debt repayment and fund future growth initiatives.

About GINSMSGINSMS is a mobile technology and services company focusing on two areas namely its A2P Messaging Service and its Software Products and Services. GINSMS operates a cloud-based A2P messaging service that allows the termination of SMS to mobile subscribers of more than 200 mobile operators globally. GINSMS also develops and distribute innovative software products and services for mobile operators and enterprises and has successfully deployed more than 100 solutions worldwide. GINSMS has offices in China, Singapore, Hong Kong, Malaysia and Indonesia.

For further information, please contact:

GINSMS Inc.Joel Chin, CEOTel: +65-6441-1029Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.