OS Limited (NYSE: SOS) (the “Company” or “SOS” formerly China Rapid Finance), announced today its audited financial results for the full year ended December 31, 2020.
In 2020, the Company completed its transition out of the P2P business and into the insurance marketing and other business when it injected the business carried out by SOS Information Technology Co., Ltd. and disposed all the subsidiaries related to the P2P business.
Fiscal Year 2020 Financial Highlights Comparing to SOS Information Technology Co., Ltd.
- Total revenue was $50.3 million, representing a 333.6% increase over total revenue in the fiscal year ended 2019:
- Insurance marketing revenue was $49.2 million, representing a 325.2% increase over last year’s insurance marketing revenue.
- Revenues from three segments, Customer Hotline, Bank Card Call Center, and SaaS Services were $0.9 million, $0.08 million, and $0.06 million respectively.
- Gross profit increased by 513.5% to $13.0 million compared to the fiscal year ended 2019. Gross margin increased by 7.5% to 25.8% compared to the fiscal year ended 2019.
- Operating income was $10.1 million, representing an increase of 475.4% from the fiscal year ended 2019.
- Net profit in 2020 was $4.4 million, or $0.0135 basis per share, compared to a net income in 2019 of $1.5 million, or $0.025 basis per share
- As of December 31, 2020, Cash and cash equivalents were $3.7 million.
CWEB Analyst’s have initiated a BUY Rating for OS Limited (NYSE: SOS) and potential upside of $6 in 2021. The fundamentals of the company are to strong and even after the hard hit post pandemic recovery but numbers are really strong. We believe Q2 will beat expectations due to the solid cash base numbers coming in..
https://cweb.com/stock/sos
