- Upco International (UPCO) focused on growing its wholesale telecom business in the third quarter, resulting in higher revenue
- Revenue grew by 205 per cent this quarter compared to the previous quarter
- Total revenue for Q3 2021 was $149,001 compared to $41,916 in Q2
- Upco is in the process of consolidating its wholesale business by reorganizing its operations into its subsidiary Okatacom
- As of September 30, 2021, the company had positive working capital of over $1.2 million
- Upco International is a cloud-based mobile service company
- Shares in Upco International Inc. (UPCO) are steady, trading at $0.065 per share
Upco International (UPCO) focused on growing its wholesale telecom business in the third quarter, resulting in higher revenue.
Revenue grew by 205 per cent this quarter, with the company bringing in $197,820 for the year to date by the end of Q3 compared to $48,819 by the end of Q2.
Total revenue for Q3 2021 was $149,001 compared to $41,916 in Q2 and $6,903 in Q1.
Gross profit was also up 262 per cent, representing the second consecutive quarter-over-quarter increase.
Upco is in the process of consolidating its wholesale business by reorganizing its operations into its subsidiary Okatacom Inc.
At the same time, the company has started offering attractive rate and flexible calling plans with hopes of developing its own customer base through the Upco Mobile Messenger application.
The company expects that this synergy between business-to-business and business-to-customer verticals will allow Upco to offer international long-distance calls through an internet connection using its existing VoIP network with more than 250 active Tier 1, 2, and global carriers that connect subscribers in 170 countries.
To facilitate this growth, the company spent $970,191 in cash for operating activities this quarter, an increase from the $350,292 spent in Q3 2020.
As of September 30, 2021, the company had positive working capital of over $1.2 million.
Upco International is a cloud-based mobile service company. The company provides high-quality voice termination to a market-driven by the growing activity in online communications and commerce.
Shares in Upco International Inc. (UPCO) are steady, trading at $0.065 per share as of 9:31 am EST.
