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SOS Limited Reports 2022 Interim Financial Results

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PR Newswire

Cryptocurrency mining and hosting services being rolled out in the  U.S.

Revenue declines due to global economy slow down

Cash balance increased  from $185.5 million to $247.4 million

NEW YORK, Sept. 28, 2022 /PRNewswire/ -- SOS Limited ("SOS" or the "Company") (NYSE: SOS) today repot 2022 Interim financial results from operation

Interim financial results from operation

Six months ended June 30, 2022 compared to June 30, 2021

Revenue


ARIVA.DE Börsen-Geflüster

Kurse

1,19 $
-7,03%
SOS Ltd. ADR Chart

Net revenue was $132.7 million, down 28.1% period-on-period. The decrease in revenues was negatively impacted by the continuing lock-down during the period; within China, the central government's control measures severely restricted business activities causing a material slowdown in revenues and growth especially in our data mining.  Our commodity business was also negatively affected  by the global slowdown.

Unaudited Condensed Consolidated Statements of Comprehensive Loss


(US$ thousands, except share data and per share data, or otherwise notes)






Six months ended




30-Jun-21



30-Jun-22




$"000"



$"000"


Revenue



184,489




132,710


Business taxes and surcharges



(11)




(45)


Net revenue



184,478




132,665


Operating costs



(167,238)




(120,294)


Gross profit



17,240




12,371


Gross profit ratio



9.3

%



9.3

%

As of June 30, 2022, SOS focuses on four product and service lines, including data marketing, cryptocurrency mining, hosting service and commodity trading. Data marketing represents 36.1% of the total revenue, 0.2% from cryptocurrency mining, 0.1% from hosting service and 63.6% from commodity trading respectively.

Revenue and service by products

Revenue by products and service


Six months ended
June 30, 2022



Six months ended
June 30, 2021


Product and service


$ "000"



Percentage



$ "000"



Percentage


Commodity trading



84,348




63.6

%



155,170




84.1

%

Cryptocurrency mining



305




0.2

%



15,126




8.2

%

Hosting serice



102




0.1

%



-




-


Data marketing



47,910




36.1

%



14,193




7.7

%

Total



132,665




100

%



184,489




100

%


















Data Marketing Includes the following four sub-category
Revenue streams:

















Insurance marketing



47,830




36.0

%



13,338




7.2

%

Telecom call center



76




0.1

%



324




0.2

%

Bank call center



4




0.0

%

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