InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – Infobird Co. Ltd. (NASDAQ: IFBD) Files FY 2020 Annual Report
May 17, 2021

InvestorNewsBreaks – Infobird Co. Ltd. (NASDAQ: IFBD) Files FY 2020 Annual Report

Infobird (NASDAQ: IFBD), a software-as-a-service (“SaaS”) provider of AI-powered customer engagement solutions in China, has released its annual report for the fiscal year ended Dec. 31, 2020; the company announced that it has filed the report with the U.S. Securities and Exchange Commission (“SEC”). Key figures of the report includes total revenues for FY 2020 reaching an estimated $14.5 million, a decrease from 2019, which the company noted was primarily due to the negative impact of the COVID-19 pandemic and one of the company’s major customers adjusting its internal telemarketing strategy. However, the report also noted an increase in revenue from new customers in the finance, healthcare and IT sectors. Other noteworthy numbers include an increase in the company’s R&D and net profit margin remaining at approximately 28%. “The customer engagement industry in China is developing rapidly as the SaaS industry continued to grow at a fast rate of 43.5% from 2019 to 2020,” said Infobird CEO and board chair Yimin Wu in the press release. “We believe we are one of the leading and long-standing Chinese SaaS providers in the booming customer engagement industry, with over 10 years of experience. . . . We believe the 2020 fiscal year marked an important turning point for Infobird as we began to shift the focus of our business from customized cloud-based services to standard cloud-based services. We are in the early stages of executing this growth strategy but have begun to see tangible results from these efforts, as our average monthly paid user accounts for standard cloud-based services increased by approximately 30.5% compared with the same period in 2019. We have also invested significant resources in research and development to develop and launch a series of new standard SaaS products embedded with our AI capabilities.”

To view the full press release, visit https://ibn.fm/jjN0C

About Infobird Co. Ltd.

Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China. For more information about the company, visit www.Infobird.com.

NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).