GOK Ginsms Inc

GINSMS Inc. (TSXV: GOK) (the “Corporation”) has announced its financial results for the third quarter ended September 30, 2022.

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

• Revenue of $789,371 for the three-month period ended September 30, 2022 as compared of $739,706 for the three-month period ended September 30, 2021.
• Gross Profit of $309,309 for the three-month period ended September 30, 2022 as compared to gross profit of $256,391 for the three-month period ended September 30, 2021.
• Operating expenses and finance costs of $359,944 for the three-month period ended September 30, 2022 increased from $233,775 for the three-month period ended September 30, 2021.
• Net loss of $72,257 for three-month period ended September 30, 2022 as compared to a net profit of $23,499 for three-month period ended September 30, 2021.

Selected Profit and Loss Information

Financial Highlights	Three-month period ended September 30,2022(Unaudited)$	Three-month period ended September 30,2021(Unaudited)$	Nine-month period ended September 30,2022(Unaudited)$	Nine-month period ended September 30,2021(Unaudited)$
Revenue ($)
A2P Messaging Service	376,476	419,237	1,057,361	990,814
Software Products & Services	412,895	320,469	1,088,426	1,045,567
	789,371	739,706	2,145,787	2,036,381
Cost of sales ($)
A2P Messaging Service	235,335	316,110	722,670	787,379
Software Products & Services	244,727	167,205	619,261	514,550
	480,062	483,315	1,341,931	1,301,929
Gross profit ($)
A2P Messaging Service	141,141	103,127	334,691	203,435
Software Products & Services	168,168	153,264	469,165	531,017
	309,309	256,391	803,856	734,452
Gross margin
A2P Messaging Service	37.5%	24.6%	31.7%	20.5%
Software Products & Services	40.7%	47.8%	43.1%	50.8%
	39.2%	34.7%	37.5%	36.1%
Adjusted EBITDA(1) ($)Adjusted EBITDA margin	(25,852)(3.3)%	45,6456.2%	93,1074.3%	221,13610.9%
Net (loss)/profit ($)Net (loss)/profit margin	(72,257)(9.2)%	23,4993.2%	(11,777)(0.5)%	149,5117.3%
(Loss)/profit per share ($)
Basic (In Canadian cents)	(0.049)	0.015	(0.009)	0.099
Diluted	N/A	0.015	N/A	0.099

(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: investor.relations@ginsms.com

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