Logiq reports Q2 revenue $4.86M, up 47% year-over-year

Logiq reported revenues of approximately $4.86 million for the second quarter ended June 30, 2023, increasing 37% sequentially and up 47% compared to results from continuing operations in the same year-ago quarter. A new major consumer product client signed in November 2022 has transitioned to Logiq’s programmatic advertising platform which should generate high-margin revenues. The associated credit facility to enable the ramp up of this business is dependent upon a listing on a senior stock exchange. The company believes the pending SPAC transaction with Abri SPAC I will provide such a listing, with this supporting its continued outlook for the annualized revenue run rate generated by its DataLogiq business to exceed $70 million by year-end.